News

September 2003

1. Artema Medical AB acquired by Private Investment Group

Artema Medical AB, which is focused on the development, supply and marketing of gas analysers and related disposables for the anaesthesia market, has been acquired by a private investment group.

The company was bought from Cardiac Science Inc. (DFIB), a publicly quoted US medical devices company who specialise in monitoring and defibrillation technology. Cardiac Science sold Artema Medical AB because it was outside their stated core business.

The new investors will bring fresh capital as well as management expertise in the areas of operations, finance and sales / marketing. Mike Ryan, who headed up the investment group during the acquisition, will be the new C.E.O. of Artema Medical AB. Mike has been involved in OEM sales for over 15 years and has been Managing Director (and founder) of TecScan Ireland Ltd. since 1990, http://tecscan.ie.

Mike Ryan states, "we are very impressed with the capability of the management team in Artema and with the technical competence in the area of medical device development. In particular the AION gas analyser is a world leading product both in terms of capability and size".

"Artema Medical AB has developed a blue-chip customer base in US, Japan, China and Europe. We plan to build on this solid base by extending the product range and customer base."