Quinton Cardiology Systems inked a four-year strategic alliance with cardiovascular information management provider, Camtronics Medical Systems, a subsidiary of Analogic Corp. of Peabody, Mass.
Camtronics will acquire Quinton's hemodynamic monitoring product line and assume responsibility for all U.S. sales. For six months, Quinton will continue to provide service to its existing hemodynamic monitoring customers and work closely with Camtronics to eventually transfer the service responsibility.
Quinton also will continue to sell its hemodynamic monitoring product outside the United States for six months, after which Quinton plans to distribute Camtronics' system through its international dealer network.
Quinton will receive $1.75 million in the first fiscal year, with further contingent payments of up to $1.5 million, based on sales of Camtronics' products to previous Quinton customers over a four-year period.