Mr. Li noted that the combined company will enjoy leading market share in specific sub-segments of the US patient monitoring market, such as ambulatory surgery centers, the hospital anesthesia market and the vital signs monitoring market as well as significant strength in centralized monitoring systems.
Commenting on the transaction, Larry Saper, chairman and chief executive officer of Datascope said, "The addition of our Patient Monitoring business to Mindray's business will create a global patient monitoring company better positioned to serve the healthcare market and compete on a worldwide basis. We expect our customers to continue to benefit from the high level of innovation, quality and service long associated with the Datascope brand. We thank our patient monitoring employees for their many years of loyal and dedicated service to Datascope, and we look forward to a smooth transition as they become important members of the growing Mindray organization."
Upon closing, the combined business will offer over 50 products across Mindray's three product segments. Mindray will benefit from Datascope's patient monitoring product pipeline as well as its existing innovative, wireless monitoring solution, NetGuard, for detecting unexpected cardiac events in previously unmonitored patients which recently received FDA approval. The combined business will benefit from manufacturing synergies derived from Mindray's efficient China-based component sourcing.
Upon completion of the transaction, Mindray will have approximately 4,100 employees.
The acquisition consideration consists of $202 million in cash funded through Mindray's internal cash and planned third-party borrowings. Datascope will retain approximately $38 million of receivables generated by the Patient Monitoring business.
The transaction has been approved by the Datascope and Mindray boards
of directors and is expected to clos
|SOURCE Mindray Medical International Limited|
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