Bangalore-based Opto Circuits India Limited is planning to acquire a medical devices company in Western Europe. The name of the company has not been disclosed. The deal, estimated to be around €16 mn, is likely to be an all-cash deal and would most likely be concluded early in the next financial year.
The European company manufactures a wide range of balloon catheters assemblies and related products for coronary and other applications. Opto Circuits has a presence in the non-invasive medical devices segment.
In January 2006, Opto Circuits acquired Germany’s EuroCor GmbH for Rs. 60 crores. EuroCor designs and manufactures stents.
Read more in the DNA Money article.
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