Bangalore/ Milwaukee, April 10th,
2008
Opto Circuits (India) Limited, India’s leading manufacturer of medical diagnostics and interventional products, today announced that it has successfully completed acquisition of Criticare Systems, Inc, a leading US-based healthcare company. Criticare Systems, Inc, is now a wholly-owned subsidiary of Opto Circuits effective April 10, 2008.
Commenting on the deal Mr. Vinod Ramnani, Chairman and Managing Director of Opto Circuits, said; “We are pleased to complete this acquisition of Criticare and will go down well with its enhanced product portfolio.”
About Opto Circuits (India) Ltd.
Opto Circuits (India) Ltd. (OCIL) (BSE Code: 532391; NSE Symbol: OPTOCIRCUI) is a leading manufacturer of healthcare equipments in India. OCIL’s product profile includes sensors, probes, pulse oxymeters, patient monitoring systems and digital thermometers. In 2001, OCIL acquired 60% stake in Advanced Micronic Devices to market its equipments in India. OEMs contribute 80% of sales while MediAid (100% US-based subsidiary) contributes the balance. MediAid came into existence with the acquisition of the patient monitoring division of Palco Labs, US, in end-2003, and now markets OCIL’s products in the US markets directly. OCIL acquired EuroCOR GmbH (manufacturer of Cardiac and Peripheral Stents of various types, including Drug Eluting Coronary Stents used in Critical Cardiac Care) of Bonn, Germany in January 2006. Visit us at www.optoindia.com
About Criticare Systems Inc.
Criticare Systems Inc. (AMEX:CMD – News) (www.csiusa.com) designs, manufactures, and markets cost-effective patient monitoring systems and noninvasive sensors for a wide range of hospitals and alternate health care environments throughout the world.
Opto Circuits (India) Limited, India’s leading manufacturer of medical diagnostics and interventional products, today announced that it has successfully completed acquisition of Criticare Systems, Inc, a leading US-based healthcare company. Criticare Systems, Inc, is now a wholly-owned subsidiary of Opto Circuits effective April 10, 2008.
Commenting on the deal Mr. Vinod Ramnani, Chairman and Managing Director of Opto Circuits, said; “We are pleased to complete this acquisition of Criticare and will go down well with its enhanced product portfolio.”
“This transaction will also open many new markets
for Criticare's products. We are confident that our global
infrastructure and marketing presence will enhance Criticare's
position as an innovator and supplier of world class healthcare
solutions." Mr. Ramnani added
About Opto Circuits (India) Ltd.
Opto Circuits (India) Ltd. (OCIL) (BSE Code: 532391; NSE Symbol: OPTOCIRCUI) is a leading manufacturer of healthcare equipments in India. OCIL’s product profile includes sensors, probes, pulse oxymeters, patient monitoring systems and digital thermometers. In 2001, OCIL acquired 60% stake in Advanced Micronic Devices to market its equipments in India. OEMs contribute 80% of sales while MediAid (100% US-based subsidiary) contributes the balance. MediAid came into existence with the acquisition of the patient monitoring division of Palco Labs, US, in end-2003, and now markets OCIL’s products in the US markets directly. OCIL acquired EuroCOR GmbH (manufacturer of Cardiac and Peripheral Stents of various types, including Drug Eluting Coronary Stents used in Critical Cardiac Care) of Bonn, Germany in January 2006. Visit us at www.optoindia.com
About Criticare Systems Inc.
Criticare Systems Inc. (AMEX:CMD – News) (www.csiusa.com) designs, manufactures, and markets cost-effective patient monitoring systems and noninvasive sensors for a wide range of hospitals and alternate health care environments throughout the world.