Business Daily from THE HINDU group of publications
Wednesday, Aug 20, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Wednesday, Aug 20, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate
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Mergers & Acquisitions Opto Circuits scouting for more acquisitions Our Bureau Mumbai, Aug. 19 After having acquired the US-based Criticare Systems earlier this year, healthcare equipment maker Opto Ciruits is scouting for more. The company is in talks with a medical devices company in Europe, Opto’s Managing Director, Mr Vinod Ramnani, said. The size of the target company would be more than $100 million, he said, adding that it was difficult to give a timeframe. Opto had picked up majority equity in Criticare, earlier this year, for $70 million. The integration of Criticare Systems into the company has been completed, said Opto’s management. In fact, the manufacturing is being shifted to India, said Mr Bodapati Bhaskar, Opto’s Chief Financial Officer. Criticare earlier did its manufacturing out of Taiwan, and this is now being brought to India, he said. Revenues from Criticare are expected to grow from $35 million this year, to $50 million, he added. Explaining why the company was looking at more acquisitions, he said, Opto would look to plug gaps in its product portfolio through this route. Opto shares were down over four per cent, at Rs 335.65 on the BSE. More Stories on : Mergers & Acquisitions | Medical & Surgical Equipments
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