Opto Circuits (India) Limited, India’s leading developer and manufacturer of medical equipment and interventional products for world markets, acquired Kolkata-based N S Remedies Ltd.

N S Remedies has an advanced facility for stent manufacturing and research and development. The company has the required capabilities to produce stainless steel and cobalt chromium stents. The company also has necessary CE approvals on its stents.

N S Remedies was acquired for about US$ 1.50 million, through an all cash deal. The entire proceeds were met out of internal accruals.

Commenting on the deal Vinod Ramnani, chairman and managing director, Opto Circuits India, said, “We are pleased to conclude this acquisition that will extend our capabilities from designing cardiac stents to now manufacturing them, filling in related processes along the value chain. This backward integration was essential to enhance the value of the products offered by us in the interventional cardiac space. The acquisition, besides enhancing our manufacturing capacity, will significantly reduce the cost of manufacturing bare metal stents and will also reduce our dependency on external agencies. This will, in turn, help us access additional markets.”