Opto Circuits India Limited (OCI), one of the leading Indian companies that develop, manufacture and market medical devices for global markets, was today awarded the prestigious ranking of being one of the 200 Best Under a Billion Asian companies by esteemed business magazine Forbes in its fifth such Annual Listing; OCI garnered the ranking for the second consecutive year. The distinction was received by Mr.Vinod Ramnani, Chairman and Managing Director, at an award function in Singapore.
Forbes' Asia's 'Best under a Billion' list for 2009 includes 200 promising Asia-Pacific companies that, according to Forbes, are ‘survival stories and lessons for entrepreneurs’. The companies had to meet the magazine’s criteria for profitability, growth, modest indebtedness and future prospects. OCI’s selection was made in a year wrought with global economic uncertainties but a time when OCI spearheaded its own business in the highly technology-intensive medical device industry through sustained product and marketing innovation. The company’s reliance on a critical care product portfolio further helped it to continue growing much faster than many of its peers.
Mr. Ramnani commented, “I wish to thank Forbes for honoring us with such a ranking. It is a matter of great pride that the magazine has chosen to recognize the company’s hard work, commitment and contribution yet again.”
About Opto Circuits (India) Ltd.
Opto Circuits (India) Ltd. (OCI) (BSE Code: 532391; NSE Symbol: OPTOCIRCUI) is a 100 percent EOU and a leading manufacturer of healthcare equipment in India. The product profile includes digital thermometers, sensors, pulse oximeters, patient monitoring systems, stents, catheters and other innovative products. In 2001, OCI acquired 60 per cent stake in Advanced Micronic Devices (AMDL) to market and distribute its products in India. Mediaid came into existence with the acquisition of the patient monitoring division of Palco Labs, US, in end-2003 and it now directly markets OCI’s products in the US. OCI acquired EuroCor GmbH in 2006. Eurocor manufactures Cardiac Stents of various types, including Drug Eluting Coronary stents. In April 2007, OCI ventured into new product segments - Urology, Gastroenterology, Gynecology and Orthopedics after acquiring Devon Innovations Private Limited (Bangalore) and Ormed Medical Technology Limited (Chennai). OCI completed the acquisition of US based Criticare Systems, Inc. in April 2008. Criticare designs, manufactures, and markets leading edge patient monitoring systems, vital signs monitors and gas benches for a wide range of hospitals and alternate health care environments throughout the world.
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