Opto Circuits acquires medical equipment companies

Mumbai, 26th April 2007: Opto Circuits (India) Ltd. (OCI), a leading medical equipment company, manufacturing medical diagnostics and cardiac products, today announced that it has signed share purchase agreements to acquire two Indian medical equipment manufacturing companies: Devon Innovations Private Limited (Bangalore) and Ormed Medical Technology Limited (Chennai).

The Companies manufacture products like Catheters, Stone graspers, Stone Baskets and Dilator Sets for different specialized applications, mainly in the areas of Urology, Gastroenterology and Gynaecology. Devon Innovations manufactures Catheters and allied products for various medical segments and Ormed deals in Orthopaedic Prosthesis & Surgical Disposables.

The acquisition of these Companies will help OCI to extend their penetration in India, as also in the international healthcare market. This acquisition will give a good synergy to the manufacturing and marketing of OCI's Cardiac Stents business. OCI will also enter new market segments like Urology, Gastroenterology, Gynaecology and Orthopedics in the domestic and International market.

Both companies are ISO 9001Certified Manufacturing Companies. Devon Products has acquired a CE Mark for its products.

About Opto Circuits (India) Ltd.

Opto Circuits (India) Ltd. (OCIL) (BSE Code: 532391; NSE Symbol: OPTOCIRCUI) is a leading manufacturer of healthcare equipments in India. The product profile includes digital thermometers, sensors, probes, pulse oximeters, patient monitoring systems, Stents and innovative products in the pipeline. In 2001, OCIL acquired 60per cent stake in Advanced Micronic Devices to market its equipments in India. OEMs contribute (80per cent) of sales while MediAid (100per cent US-based subsidiary) contributes the balance. MediAid came into existence with the acquisition of the patient monitoring division of Palco Labs, US, in end-2003 and now markets OCI's products in the US markets directly. OCI acquired EuroCor Gmbh during 2006. EuroCor manufactures Cardiac Stents of various types, including Drug Eluting Coronary stents used in critical cardiac care. Visit us at www.optoindia.com.