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Mindray Medical to Acquire a Controlling Stake in Hunan Changsha TDR Biotech
Date:12/20/2011

SHENZHEN, China, Dec. 20, 2011 /PRNewswire-Asia-FirstCall/ -- Mindray Medical International Limited (NYSE: MR), a leading developer, manufacturer and marketer of medical devices worldwide, announced today an agreement to acquire a controlling stake of Hunan Changsha Tiandiren Biotech Co., Ltd. ("TDR"). The terms of the agreement were not disclosed as the transaction is non-material to Mindray's financial statements.

Founded in 1997 and based in Hunan, China, TDR is a domestic manufacturer of microbiology analysis solutions that specialize in microbial identification and antibiotic susceptibility testing (ID/AST) and the blood culture system. Clinical laboratories use the ID/AST system to identify microbes and perform antibiotic susceptibility testing, while they use the blood culture system to recover pathological organisms. The rapid reporting of ID/AST test results and a continuous-monitoring blood culture system can result in better antibiotic management. Last year, the market for ID/AST and blood culture system was estimated at approximately $139 million in China. It is expected to grow 15-20% annually. Internationally, the market was estimated at $2.25 billion in 2010 and is expected to grow 5% annually.

Through this transaction, Mindray will be able to combine its strong platforms in sales, manufacturing, R&D, quality assurance and other resources with TDR's technology and expertise in the microbiology analysis business. TDR's strength in reagents is expected to complement Mindray's strength in analyzers.

"This transaction continues to show our commitment to expand the IVD product portfolio," said Mr. Minghe Cheng, Mindray's Chief Strategic Officer. "TDR's products will be a great addition to our existing IVD product line. Microbiology analysis is an important segment within IVD. It is an emerging yet promising category in China, based on favorable dom
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SOURCE Mindray Medical International Limited
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