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Sunday, September 22, 2013

Cardiac Science signs contract to provide Powerheart AEDs to the state of New Jersey
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WAUKESHA, Wis., Sept. 16, 2013 /PRNewswire/ -- Cardiac Science Corporation, an Opto Circuits group company and a global leader in automated external defibrillators (AEDs), has signed a three-year contract with the state of New Jersey to provide AEDs and related services to state agencies.

The agreement makes Cardiac Science an authorized vendor for fully automatic and semi-automatic Powerheart® G3 AEDs as well as Rescue Ready® AED Management Services, which includes AED/CPR training, medical authorization, and a host of other services that help ensure the success of AED deployments. The contract includes volume pricing, which affords law enforcement and fire services an opportunity to expand upon their existing vehicle deployments of Powerheart AEDs.

Prior to selecting a partner, New Jersey insisted that the chosen AED manufacturer provide AEDs that are easy to use and at the same time technologically sophisticated. Powerheart AEDs are an ideal match: The small, lightweight devices can be easily used by laypersons, with both audio and visual instructions and prompts to guide the user through a rescue.

"Cardiac Science has a significant footprint in New Jersey through various AED deployments with state and municipal government agencies," said Al Ford, Cardiac Science General Manager and Senior Vice President of Sales / Marketing. "This new contract allows us to strengthen our foothold in the state while assuring we provide agencies with AEDs and support services to help New Jersey save lives."

New Jersey has some of the strongest AED protection laws in the U.S. "Janet's Law", signed in 2012, requires the state's public schools, recreation fields, and youth camps to have AEDs for youth athletic events. New Jersey's public school buildings are required to have AEDs, as are assisted living facilities, nursing homes, and health clubs.

In May 2012 New Jersey enacted a Good Samaritan law that protects from civil liability any individual who uses an AED in an emergency situation.

About Cardiac Science
Cardiac Science, a group company of Opto Circuits (India) Ltd., develops, manufactures, and markets automated external defibrillators (AED) and provides a portfolio of training, maintenance, and support services for AEDs. Cardiac Science is headquartered in Waukesha, Wisconsin. With customers in almost 100 countries worldwide, the company has operations in North America, Europe, and Asia. For information, please visit: http://www.cardiacscience.com.

About Opto Circuits (I) Ltd (Rs.22.40):
Based in Bengaluru, Opto Circuits India Ltd (OCI) is engaged in the development, manufacture, distribution and marketing of medical equipment and devices. OCI also provides ancillary and complementary services such as after-sales service for the patient monitoring devices. 

Opto Circuits (India) Ltd. (OCI) is a vertically integrated multinational medical technology Group that specializes in primary, acute and critical care products for the global markets. Group companies such as Cardiac Science, Criticare, Eurocor, Mediaid, AMDL and Unetixs Vascular are leaders in vital signs monitors, emergency cardiac care equipment, vascular treatments and sensing technologies. Its USFDA listed and CE marked products are marketed in more than 150 countries and sold through direct and indirect sales channels across many emerging and developing economies.

Its medical equipment business can be broadly classified into two segments viz:

  • Invasive (equipment that require the entry of a needle, or other instrument into a part of the body e.g. coronary stents) which contributes 25% of its revenues and
  • Non-invasive (equipments used to monitor health, but which do not enter body for e.g. Digital thermometer, sensors, etc.) which contributes 75% of revenues.


OCI’s range of products includes Pulse Oximeters, Pulse Oximeter Sensors, fluid warmers, Cholesterol monitors and Stents and is sold in more than 100 countries. 

The company has made several acquisitions over the years and currently has 14 subsidiaries based out of 3 continents. OCI has a strong R&D base and holds more than 40 patents. It derives majority of its revenue from exports (around 94%).  Hence any depreciation of the INR should be acting as positive for the company. 

Subsidiaries: 

  • Advanced Micronic Devices Ltd., 
  • Cardiac Science Corporation, 
  • Criticare Systems Inc., 
  • Devon Innovations Pvt Ltd., 
  • Eurocor Gmbh, 
  • Maxcor Lifescience Inc., 
  • Mediaid Inc., 
  • N.S. Remedies Pvt. Ltd., 
  • Opto Cardiac Care Ltd., 
  • Opto Circuits (Malaysia) SDN BHD, 
  • Opto Eurocor Healthcare Ltd., 
  • Opto Infrastructure Ltd., 
  • Ormed Medical Technology Ltd., Unetixs Vascular Inc.

Its clients include Philips Medizine Systems, General Electric Medical Systems, Life Stream Technologies etc. and hospitals like Apollo, Escorts, Breach Candy, Lilavati and Wockhardt. It was incorporated in 1992 and got listed in 2000. It was earlier ranked in Forbes’ Asia’s 200 Best under a Billion lists in 2008, 2009 and 2011. For more information, please visit: www.optoindia.com.

For media questions, contact Ric Kositzke at +1.262.953.7624.

For investor questions, contact Opto Circuits at ir@optoindia.com or +91.80.2852.8088

SOURCE: Cardiac Science Corporation, Wikipedia and Internet