Financial Daily from THE HINDU group of publications
Wednesday, Apr 26, 2006
Financial Daily from THE HINDU group of publications Wednesday, Apr 26, 2006 |
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Corporate
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Alliances & Joint Ventures Marketing - Channels and Franchises Opto Circuits' arm signs pact with Fumedica Our Bureau
Bangalore , April 25 EuroCor GmbH, the wholly-owned subsidiary of Opto Circuits (India) Ltd(OCIL) and a leading manufacturer of healthcare equipment, has signed a distribution agreement with Fumedica AG, Europe's leading medical device sales organisation. "Fumedica will be marketing EuroCor's entire range of coronary stent systems and balloon dilatation catheters for the German and Swiss market. "This deal is expected to generate revenues of at least Rs 27 crore during the first year for us,'' said Mr Vinod Ramnani, Chairman & Managing Director, Opto Circuits.
First agreement
This is the first major agreement signed by EuroCor after it has been acquired by Opto Circuits in January at a cost of Rs 59.91 crore. EuroCor will give the company access to the existing as well as potential market for stents globally. The stent market is expected to rise to $10 billion by 2008 against $6 billion in 2004.
More Stories on : Alliances & Joint Ventures | Channels and Franchises | Medical & Surgical Equipments
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