| EuroCOR is into designing and manufacturing of stents. Vinod Ramnani, chairman and managing director of OCIL, said the acquisition of EuroCOR gave the company a strong foothold in the global stents market. |
| The total global market for stents was valued at $6 billion (Rs 27,750 crore) in 2004. It is expected to rise to $10 billion(Rs 46,250 crore) by 2008. |
| "We expect that the strong R&D base of EuroCOR will lead us to greater market share and also better margin business. This acquisition is another milestone for Opto Circuits, and will help improve shareholder value," Ramnani added. |
| According to Michael Orlowski, director and CEO of EuroCOR, it has presence in more than 26 countries. The company has the Europen quality approval for its products and is in the process of applying for Food and Drug Administration (FDA). |
| EuroCOR's current order book is to the tune of euro1.7 million (Rs. 9.26 crore) and it is expected to report a topline of approximately euro 4 million (Rs. 21.78 crore) in the current financial year. EuroCOR is projecting a topline of Euro 10 million (Rs. 54.46 crore) for its next year. |
| Opto Circuits' product profile includes digital thermometers, sensors, probes, pulse oxymeters, patient monitoring systems and innovative products in the pipeline. In 2001, OCIL acquired 60 per cent stake in advanced micronic devices to market its equipments in India. |
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