NORTH KINGSTOWN, R.I. (July 27, 2010) – Opto Circuits India Ltd. today completed the acquisition of 100 percent of the capital stock of Unetixs Vascular, Inc., based at the Quonset Business Park in North Kingstown, R.I. The announcement was made jointly by Vinod Ramnani, chairman and managing director of OCI, and Peter A. Moscovita, president and ceo of Unetixs Vascular, Inc.
Unetixs designs, develops and markets a full line of world class vascular diagnostic systems and accessories to detect peripheral arterial disease (PAD), a condition that is affecting a growing portion of the world’s population. The products range from high-end systems used by hospitals and vascular specialists to a fully self-contained low cost diagnostic station aimed at physician offices. Early detection of PAD greatly enhances the successful treatment and management of the disease.
“We are delighted to become a member of the Opto Circuits group of companies,” stated Moscovita. “Unetixs has grown from humble beginnings in 1988 to become a recognized leader in vascular diagnostic systems both nationally and internationally. We feel it’s a perfect fit and will allow Unetixs to expand on a global basis,” he added.
Ramnani said, “Having access to state-of-the-art detection technology for PAD through the acquisition of Unetixs Vascular is a key milestone for Opto Circuits and will allow us to now offer both diagnostic products from Unetixs and treatment products offered by our Eurocor subsidiary. We are excited to welcome the Unetixs team to the Opto group of companies and are confident that they will play a significant role in the growth of our business.”
Moscovita plans to remain with Unetixs Vascular for the foreseeable future, concentrating on product development, engineering and marketing of the Multi- Lab® and Revo® lines of vascular diagnostic systems, the VascuLink® networking capability, and the PAD Partner Program.
Moscovita added, “There are no immediate changes expected at the North Kingstown headquarters of Unetixs.”
Opto Circuits India Limited of Bengaluru, Karnataka, India, is India’s leading manufacturer of medical diagnostics and interventional products, including sensors, probes, pulse oxymeters, patient monitoring systems and digital thermometers. Other activities in the United States include the purchase of the patient monitoring division of Palco Labs, the development of the MediAid Inc. distribution network headquartered in Cerritos, Calif., and the 2008 acquisition of Criticare Systems, Inc. of Waukesha, Wis.
Unetixs Vascular, Inc. designs and manufactures the most technologically advanced and innovative vascular diagnostic systems at its modern facility at the Quonset Business Park in North Kingstown, R.I.
Opto Circuits Ltd.: www.optoindia.com
Peter A. Moscovita
President/CEO Unetixs Vascular, Inc.
David S. Chaffee
CEO Chaffee Communications