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BSE: 532391 | NSE: OPTOCIRCUI | ISIN: INE808B01016 Market Cap: [Rs.Cr.] 3,142 | Face Value: [Rs.] 10 Industry: Electronics - ComponentsOpto Circuits (India) Limited, a three star export-trading house was established in June of the year 1992 as a private limited company. Opto maintaining the strict quality control by benchmarking the facilities and the products to the international standards. Accordingly the company has been accredited with ISO 9001 certification since 1995 by RVA, Netherlands, through STQC Directorate, Govt. of India. It operates in the medical electronics space and manufactures optical sensors, security systems and optoelectronic equipment. The company also undertakes design of optoelectronic devices. It also manufactures a range of healthcare equipment like pulse oximeter, multi parameter monitors, pulse oximeter sensors, digital thermometers, cholesterol monitors and fluid warmers. Opto is a recognized export house and has CE and FDA approvals for many of its products. The Company's clients include Philips Medizine Systems, General Electric Medical Systems, Life Stream Technologies etc., and hospitals like Apollo, Escorts, Breach Candy, Lilavati and Wockhardt. Opto's status was refreshed as a public limited company in April of the year 2000.
In the year 2001, the company had acquired controlling stake in Advanced Micronic Devices Limited, a company engaged in the business of Health care. During the year 2002, Opto Circuits had entered into an agreement with Hindustan Lever to buy the business line of Digital Thermometers. During the period of 2002-03, it had acquired the Patient Monitoring Division of Palco Laboratories Inc a leading US based company and also in the year 2003, the company had set up its 100% subsidiary under the name of Mediaid Inc in US. During the year 2004, Opto had acquired the 100% stake in Altron. The year 2005 was a quantum leap in the company's saga, Opto Had diversified from non-invasive segment to invasive segment of the healthcare domain. In the same year 2005, the company had acquired a Eurocor Gmbh, German. The Company's Eurocor had signed distribution agreement with Fumedica, AG in the year 2006 and also in same year, Mediaid received FDA approval for SpO2 sensor range. .
The Company had inked purchase agreements in April of the year 2007 to acquire medical equipment companies in India, namely, Devon Innovations and Ormed Medical Technology. In September of the year 2007, Opto Circuits had entered into technology transfer agreement with Elpro Srl - Italy, to develop, manufacture and market different variants of electro cardio graph machines (ECG machines). From the November 2007, the company's status upgraded from two star export trading house to three star export trading house in accordance with the provisions of EXIM policy, from ministry of commerce and industry, government of India. As at April 2008, Opto Circuits had completed acquisition of Criticare Systems, a leading US-based healthcare company. Subsequently Criticare Systems became a wholly owned subsidiary of the company with effective from 10th April 2008. The Company had received approval from the US Food and Drug Administration (US FDA) in May of the year 2008 to market two of its products in the country. The model 900 and model 960 vital sign monitors are the first Opto bedside monitors to receive the approval from the US FDA.
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