Cardiac Science Raises $9.7 Million Privately

Irvine medical products developer Cardiac Science Inc. said Thursday it has raised $9.7 million through a private placement of its common stock.

The company said it sold 2.15 million shares of stock at $4.50 a share to Swiss investors.

Cardiac Science said some of the proceeds will help fund efforts to market Powerheart, the company’s bedside heart defibrillator that monitors hospital patients at risk of sudden cardiac arrest.

The stock, which trades over-the-counter, was unchanged at $5.19.