Opto Circuits get nod for US entry

Opto Circuits (India) Ltd, a Bangalore-based manufacturer of medical diagnostics, is all set to enter the US market with a range of products.

The company has received the approval from the US Food and Drug Administration (USFDA) to launch its new generation pulse oximeters.

According to company officials, Opto Circuits will immediately launch its pulse oximeter model no. M30 and M34 in the US market. Pulse oximeter is a palm-sized handheld device used to measure a patient's oxygen saturation contents and blood pressure levels.

The company claims that its products can collect and store the data from the patient's body 24 hours, even during sleep. The data can be transferred to a computer using the USB port on the oximeter and also through an infra-red device, company officials told Business Standard.

With the launch of this, Opto Circuits aims to gain access to the large US market which has a sales potential of $1 billion annually for oximeters.

The company expects to sell its product for $300 per unit. In addition to the US, it plans to introduce the product in other markets including Asia and Europe, the officials said.

The company has already set up a big dealer network with 200 distributors in the US market for its products.

Meanwhile, the commere ministry has upgraded Opto's export status from two star export trading house to three star export trading house in accordance with the provisions of Exim policy.

Opto Circuits is looking at a 50 per cent growth in its sales during the current year compared to Rs 251 crore last year. It is also awaiting the USFDA nod for two more products, they added.