Opto Circuits (India), a Bangalore-based Rs 450-crore plus leading manufacturer of medical diagnostics and interventional product, is surging ahead with acquisition of Criticare Systems Inc, USA and now introducing new high-tech products. It has successfully completed integration of Criticare and strengthen its presence in pulse oximeters and other multi-parameter monitors. The company also expand its product portfolio further in the non-invasive segment to include anaesthesia monitors and central station systems.
While talking to press, Vinod Ramanani, chairman and managing director, Opto Circuits, said, "We are finalizing one more acquisition of a new diagnostic company in Europe for a consideration of around $100 million. Further, to strengthen our presence we are looking out for more acquisitions in near future. The company is moving forward with its enhanced product portfolio and consolidating its product range. The company's effort in introducing new products and entering into new geographies has translated well for the Group. Opto Circuits has built very strong reputation for high quality innovative products and services."
The company is shifting the manufacturing of few products of Criticare to its Bangalore facility to cut down the cost. After takeover of Criticare, Opto has strengthened its marketing division and received good response in the Global market. The total integration will be over by June 2009. It will start introducing new product from June 2010. With introduction of cost-effective products, the company is set to achieve top-line growth of 25 per cent and bottom-line growth of over 20 per cent in the current year.
The leading edge technology will allow Opto Circuits to enter new markets and compete more effectively with leading manufacturer of Vital Sign monitors and anaesthesia gas monitors. The company with an install base of about 1.50 lakh monitors also is working on releasing two new ranges of patient monitors during the next few months. Meanwhile, the company has strengthened its research and development and marketing team to assure technological leadership.
The company's US based subsidiary - Mediaid has received US FDA approval on two of its new generation range of pulse oximeters, enabling Opto to market its M30 and M34 models and multi parameter monitor Model 960.
Eurocore, a 100 per cent German-based subsidiary of Opto, had also introduced DIOR for optimized treatment of Side Branch treatment lesions. According to Michael Orlowski, founder and CEO of Eurocore, the company is a growing force in interventional cardiology and its five major new products are in pipeline. The company is now focusing more on global marketing. DIOR is a balloon catheter that provides a safe and clinically efficient side branch treatment. The product has proved that the cardiologist has an excellent new tool to reduce long-term restenosis, especially in side branch vessels. At present Eurocor have a market share of 9-10 per cent with Taxcor in the drug-eluting stents (DES) market, and growing in the Bare metal Stainless Steel Megaflex and Cobalt Chromium magic market. The company has already received approval from the DCGI to conduct the safety and efficacy trial of DIOR.
Opto Circuits has also expanded is medical technologies portfolio by acquiring domestic manufacturing companies Devon Innovations Pvt Ltd and Ormed Medical Technology Ltd.