US-based subsidiary of Opto Circuits files for bankruptcy

Medical devices firm Opto Circuits today said its step-down subsidiary in the US has filed for bankruptcy to facilitate debt restructuring.
Cardiac Science Corporation, USA, -- a step-down overseas subsidiary company of Opto Circuits -- has filed voluntary petition under Chapter 11 of the US Bankruptcy code to facilitate debt restructuring, Opto Circuits India said in a regulatory filing.
The Bengaluru-based firm manufactures various medical products including automated external defibrillators (AEDs), vascular diagnostic equipment and drug eluting stents.
Shares of Opto Circuits India today ended at Rs 16.35 apiece on the BSE, down 1.21 from previous close.