Opto Circuits inks distribution pact with Japanese firm

Opto Circuits’s arm, Cardiac Science Corporation, has entered into a distribution agreement with Omron Healthcare to distribute Automated External Defibrillator Powerheart G3 HDF-3000 in Japan

Healthcare equipment maker Opto Circuits (India) today said it has entered into an agreement with Japan’s Omron Healthcare to distribute equipment used for treatment of heart disease in the Japanese market.

The company’s arm, Cardiac Science Corporation, has entered into an exclusive distribution agreement with Omron Healthcare to distribute Omron Automated External Defibrillator (AED) Powerheart G3 HDF-3000 in Japan, Opto Circuits (India) said in a statement.

The agreement is for marketing of products which have been approved by Japan's Ministry of Health, Labour and Welfare (JMHLW).

External defibrillators are medical devices that diagnose life-threatening abnormal heart rhythms and deliver electrical energy to the heart to restore its normal rhythm.

“Omron, a leading healthcare company dedicated to the prevention of heart disease, will distribute the AEDs through its home-use and medical healthcare devices division and will optimally utilise sales channels of business partners,” the company said.

Commenting on the development Opto Circuits Chairman and Managing Director Vinod Ramnani said: “We are pleased to partner with a well known brand like Omron Healthcare to gain a strategic re-entry into the lucrative Japanese market with our emergency life saving product.”

Japan is the second largest AED market in the world with 65,000 AEDs sold annually. In 2004, the Japanese government passed a law permitting the common man to operate AEDs, prior to which, AEDs were operated only by designated healthcare professionals.

Last month Cardiac Science Corporation had received approval from JMHLW to market Powerheart G3 AED in Japan.

“Cardiac Science and Omron Healthcare are currently engaged in market launch preparations, with commercial release and first revenue sales expected in August, 2011,” it added.

On Friday, Opto Circuits ended 0.23% up at Rs287.55 on the Bombay Stock Exchange, while the benchmark Sensex ended 1.15% down at 18,858.04.

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NTPC signs loan agreement with SBI

The loan shall be utilised for financing NTPC’s ongoing and new projects

Surging ahead with its capacity expansion plans, NTPC Ltd, the largest power utility in the country, signed a loan agreement of Rs10,000 crore with State Bank of India in New Delhi. The rupee term loan has a door to door maturity of 12 years with a drawdown period of four years. The loan shall be utilised for financing the capital expenditure of its ongoing and new projects.

The loan agreement was signed in the presence of Arup Roy Choudhury, CMD, NTPC and his team and Pratip Chaudhuri, chairman, State Bank of India and senior officials of both the organisations.

This is the single largest loan extended by State Bank of India to any corporate entity in India and abroad. For NTPC also, this is the single largest loan extended by any commercial bank. NTPC has a total installed capacity of 34,584 MW and plans to be a 128 GW company by 2032.

On Friday, NTPC ended 0.05% down at Rs189.90 on the Bombay Stock Exchange, while the benchmark Sensex ended 1.15% down at 18,858.04.

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Kale Consultants reconstitutes board of directors

Appoints Philippe Lesueur as director & chairman and adds two new independent directors to the Board

Kale Consultants today announced that Philippe Lesueur will be the new chairman and director of the company. Philippe Lesueur replaces Narendra Kale who resigns from the board as the chairman and director. Vipul Jain will continue as the managing director of the company.

Kale Consultants also announced appointment of Sekhar Natarajan and Bahram Vakil as independent directors on the board of the company and resignations of PS Deodhar and Pravin Gandhi as directors of the company. Kewal Nohria will continue to remain on the board as an independent director.

On Friday, Kale Consultants ended 1.49% up at Rs85.30 on the Bombay Stock Exchange, while the benchmark Sensex ended 1.15% down at 18,858.04.

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