India’s Opto Buys U.S.-Based Criticare In Medical Device Merger
This article was originally published in PharmAsia News
Executive Summary
Opto Circuits of India says it has bought Criticare Systems of the U.S. for $70 million, acquiring the U.S. firm's non-invasive medical devices. Opto says it will transfer Criticare's production, which had been outsourced to Taiwan, to Opto's own plant in Bangalore by next June, for a 20 percent cost savings. In addition, the Indian device maker said it plans to reduce its design cycle from three years to just nine months. The purchase was the latest in a series of acquisitions by Opto in the past few years. It already has bought Mediaid of the United States and Eurocor of Germany. (Click here for more