Business OpportunitiesCriticare Systems enters into agreement with European firm
Opto Circuits today said its wholly owned subsidiary, Criticare Systems Inc (CSI), has entered into a long term agreement with a European firm for supplying patient monitoring systems and anesthetic gas delivery products.
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"The agreement involves the supply of private label patient monitoring systems by CSI to the partner as well as cooperation in sales and distribution of anesthetic gas delivery products in several key markets, both in Europe and the US," Opto Circuits India (OCI) said in a filing to the Bombay Stock Exchange without disclosing the name of the European company.
Both companies will abide by mutually agreed annual targets and they expect to make their first delivery by 2009 end, it added.
This agreement is significant in terms of driving revenue growth and market share for CSI and its technology. It would also drive market share gains for the group"s non invasive range in important world markets, OCI Chairman and Managing Director said.
Opto Circuits completed the acquisition of US-based Criticare Systems in April 2008. Criticare manufactures a wide range of medical equipments including patient monitoring systems, vital signs monitors and gas benches for hospitals.