Opto Circuits to acquire Medical Equipment Manufacturing Companies in India

Opto Circuits India Ltd has announced that the Company has signed purchase agreements to acquire Medical Equipment Companies in India namely Devon Innovations Pvt Ltd and Ormed Medical Technology Ltd.

The Companies manufacture products like Catheters, Stone graspers, Stone Baskets, Dilator Sets etc, for different specialized applications mainly in the areas of Urology, Gastroenterology and Gynaecology.

Devon Innovations manufacture Catheters and allied products for various medical segments and Ormed deals in Orthopaedic Prosthesis & Surgical Disposables. Both Companies are ISO 9001 Certified Manufacturing Companies. Devon Products have the CE Mark also.

The acquisition of these Companies will help the Company to extend their penetration in India also in the international Health Core market. The Company has already entered the Cardiology Speciality successfully. This acquisition will not only give a synergy in Manufacture and Marketing its Cardiac Stents but also give the Company presence with products in the specialities of Urology, Gastroenterology and Orthopaedics in the domestic and International market.

Source : Equity Bulls

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