Opto subsidiary in US signs OEM agreement with another US company

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Opto Circuits (I) Ltd. (OCI)’s wholly-owned US-based subsidiary, Criticare Systems Inc. (CSI), has forged a strategic multi-year OEM (Original Equipment Manufacturing) contract with another US company to privately label its anesthesia monitor for the signed partner. The agreement leverages CSI’s unique anesthesia gas monitoring technology in applications that involve the calibration and maintenance of anesthesia equipment in some of the leading hospitals in the United States. 

Vinod Ramnani, Chairman and Managing Director, OCI, commented, “This is further evidence of the technology leadership and market position of our monitoring platforms and expertise in gas monitoring originated by the acquisition of Criticare Systems last year”.

CSI is an international medical device company that develops, manufactures and markets patient monitoring and anesthetic gas analysis products.

About Opto Circuits (India) Ltd.
Opto Circuits (India) Ltd. (OCI) (BSE Code: 532391; NSE Symbol: OPTOCIRCUI) is a 100 percent EOU and a leading manufacturer of healthcare equipment in India. The product profile includes digital thermometers, sensors, pulse oximeters, patient monitoring systems, stents, catheters and other innovative products. In 2001, OCI acquired 60 per cent stake in Advanced Micronic Devices (AMDL) to market and distribute its products in India. Mediaid came into existence with the acquisition of the patient monitoring division of Palco Labs, US, in end-2003 and it now directly markets OCI’s products in the US. OCI acquired Eurocor GmbH in 2006. EuroCor manufactures Cardiac Stents of various types, including Drug Eluting Coronary stents. In April 2007, OCI ventured into new product segments - Urology, Gastroenterology, Gynecology and Orthopedics after acquiring Devon Innovations Private Limited (Bangalore) and Ormed Medical Technology Limited (Chennai). OCI completed the acquisition of US based Criticare Systems, Inc. in April 2008. Criticare designs, manufactures, and markets leading edge patient monitoring systems, vital signs monitors and gas benches for a wide range of hospitals and alternate health care environments throughout the world.

Visit us at www.optoindia.com; www.csiusa.com.