Bangalore-headquartered Opto Circuits (India) Ltd has informed that Criticare Systems Inc., its wholly owned subsidiary, has signed a long-term development agreement with an OEM customer.

The latest pact will provide a joint development programme focused on a new modular and MRI-compatible patient monitoring system.

According to a company official, the system will be based on Criticare's new eVision™ platform and the development programme will commence immediately.

The share of the company today closed the day at Rs 164 on BSE. It touched an intraday high and low of Rs 170 and Rs 160 respectively.