Opto Circuits plans more acquisitions overseas

Opto Circuits, a leading manufacturer of medical equipment, is planning more acquisitions overseas, the company said today.     

The Rs 500-crore-company has been growing both organically and through acquisitions over the last few years.     

Speaking to reporters, Chairman and Managing Director of the company, Vinod Ramnani, said he is looking for more acquisitions in the US and Europe costing about $100 million.     

But he refused to give any timeframe for the acquisitions and said that discussions are going on and both the companies were engaged in making medical devises.     

Opto Circuit had acquired Criticare Systems, a US-based healthcare firm for $70 million a few months ago and Ramnani said the company has completed integrating the latest acquisition.     

The annual report of the company said its experience with acquisitions has been satisfactory and it would pursue this strategy.    

 The company has also gone for developing sector specific Special Economic Zone to manufacture electronic hardware near Mysore over an area of about 200 acres.     

The annual report said Opto Electro Industry, in which the company operates, is expected to generate market and services of over $1 trillion over the next decade, offering huge growth opportunities to the company.     

The company uses combination of optics and electronics called 'opto electronics' to manufacture medical devices. Opto electronics has a significant advantage over normal electronics, the report said.