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Opto Circuits to buy U.S. healthcare firm
Tuesday, 26 February 2008, 02:59 IST
Bangalore: City-based Opto Circuits (OCL) announced Monday that it has agreed to acquire U.S. based Criticare Systems for $70 million (
2.8 billion).
In a filing with the Bombay Stock Exchange (BSE), the listed company said it had signed a definitive agreement with Criticare to buy the U.S. firm, which manufactures vital sign and anaesthesia monitors and Oximetres for global market.
OCL operates in the medical electronics space and manufactures optical sensors, security systems and optoelectronic equipment. The company also designs optoelectronic devices.
Vinod Ramnani, managing director of OCL, told IANS that the acquisition was a strategic move for the company in export and domestic markets.
"Criticare buyout will broaden our product portfolio and compliment our range of medical equipment," Ramnani said.
Source: IANS
2.8 billion).
In a filing with the Bombay Stock Exchange (BSE), the listed company said it had signed a definitive agreement with Criticare to buy the U.S. firm, which manufactures vital sign and anaesthesia monitors and Oximetres for global market.
OCL operates in the medical electronics space and manufactures optical sensors, security systems and optoelectronic equipment. The company also designs optoelectronic devices.
Vinod Ramnani, managing director of OCL, told IANS that the acquisition was a strategic move for the company in export and domestic markets.
"Criticare buyout will broaden our product portfolio and compliment our range of medical equipment," Ramnani said.
Source: IANS