  We analyze the data on cross sections and asymmetries for the $pd (dp) \to
\eta ^3{\rm He}$ reaction close to threshold and look for bound states of the
$\eta ^3 {\rm He}$ system. Rather than parameterizing the scattering matrix, as
is usually done, we develop a framework in which the $\eta ^3 {\rm He}$ optical
potential is the key ingredient, and its strength, together with some
production parameters, are fitted to the available experimental data. The
relationship of the scattering matrix to the optical potential is established
using the Bethe-Salpeter equation and the $\eta ^3 {\rm He}$ loop function
incorporates the range of the interaction given by the empirical $^3 {\rm He}$
density. We find a local Breit Wigner form of the $\eta^3$He amplitude $T$
below threshold with a clear peak in $|T|^2$, which corresponds to an $\eta^3
{\rm He}$ binding of about 0.3 MeV and a width of about 3 MeV. By fitting the
potential we can also evaluate the $\eta ^3 {\rm He}$ scattering length,
including its sign, thus resolving the ambiguity in the former analyses.
