Opto Circuits (India) Limited Completes Acquisition of Criticare Systems, Inc.
April 10 2008 - 6:48PM
Business Wire
Opto Circuits (India) Limited (�Opto Circuits�) today announced
that it has completed its acquisition of Criticare Systems, Inc.
(�Criticare�) (AMEX:CMD). Through a tender offer by its
wholly-owned subsidiary, Packer Acquisition Corporation (the
�Purchaser�), Opto Circuits had previously acquired approximately
92.8% of the outstanding shares of Criticare common stock for a
purchase price of $5.50 per share in cash and without interest. As
the final step of the acquisition, Opto Circuits caused the
Purchaser to merge with and into Criticare effective April 10,
2008. In the merger, each Criticare share not purchased in the
tender offer, other than shares for which statutory appraisal
rights are properly exercised, was converted into the right to
receive the same $5.50 per share in cash and without interest, as
received by Criticare stockholders in the tender offer. As a
result, Criticare is now a wholly-owned subsidiary of Opto
Circuits. About Opto Circuits Opto Circuits (www.optoindia.com) is
a leading Indian manufacturer and developer of medical devices
whose products include digital thermometers, sensors, probes, pulse
oximeters, patient monitoring systems, cardiac stents and
catheters. About Criticare Criticare (www.csiusa.com) designs,
manufactures, and markets cost-effective patient monitoring systems
and noninvasive sensors for a wide range of hospitals and alternate
health care environments throughout the world.
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