Criticare Systems Inc. to be purchased by leading Indian medical equipment company

Criticare Systems Inc., the US-based manufacturer of medical equipment, has signed a definitive agreement to be purchased by leading Indian medical equipment manufacturer Opto Circuits for $70 million in an all-cash deal.

Criticare manufactures vital signs monitors, anesthesia gas monitors, and pulse oximeters for the global market.

OCL is a manufacturer of medical electronics, including optical sensors, security systems and optoelectronic equipment. The company also designs optoelectronic devices.

“The acquisition will expand our presence in patient monitoring since Criticare is known for high-quality innovative products and services. The transaction will open global markets for Criticare’s products and enhance our product offering in the US,” Opto Circuits managing director Vinod Ramnani told IANS here.

Post-merger, Criticare will become a wholly owned subsidiary of Opto Circuits, which intends to fund the acquisition through a third party.