Navigation Links
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 domestic policies to develop the overall industry as well as the government's specific focus on preventing antibiotic overuse."

Cautionary Note Regarding Forward Looking Statements

This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including without limitation, the projections of the annual growth rate of the microbial diagnostic market in China and internationally, any expected benefits of this transaction to either of Mindray or TDR, expected complements of TDR's business lines to Mindray's businesses, expansion of Mindray's product portfolio in microbiology analysis and expectations regarding governmental policies or development in China of the microbiology analysis market, are forward-looking statements. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors. The financial information contained in this release should be read in conjunction with the consolidated financial statements and notes thereto included in our public filings with the Securities and Exchange Commission. For a discussion of other important factors that could adversely affect our business, financial condition, results of operations and prospects, see "Risk Factors" beginning on page 4 of our annual report on Form 20-F. Any projections in this release are based on limited information currently available to us, which is subject to change. Although such projections and the factors influencing them will likely change, we will not necessarily update the information. Such information speaks only as of the date of this release.

About Mindray

We are a leading developer, manufacturer and marketer of medical devices worldwide. We maintain our global headquarters in Shenzhen, China, U.S. headquarters in Mahwah, New Jersey and multiple sales offices in major international markets. From our main manufacturing and engineering base in China, we supply through our worldwide distribution network a broad range of products across three primary business segments, namely patient monitoring and life support, in-vitro diagnostic, and medical imaging systems. For more information, please visit http://ir.mindray.com.

For investor and media inquiries, please contact:

In the U.S.:

   Hoki Luk
   Western Bridge, LLC
   Tel:   +1-646-808-9150
   Email: hoki.luk@westernbridgegroup.com

   In China:

   Cathy Gao
   Mindray Medical International Limited
   Tel:   +86-755-8188-8023
   Email: cathy.gao@mindray.com


'/>"/>
SOURCE Mindray Medical International Limited
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Mindray Medical to Acquire a Controlling Stake in Zhejiang Greenlander Information Technology
2. Mindray to Launch New DC-T6 Ultrasound System at RSNA
3. Mindray Announces Partnership with Epiphany Cardiography Products, LLC
4. Mindray to Hold Annual General Meeting in Hong Kong on December 19, 2011
5. Mindray Announces Up to $100 Million Share Repurchase Program
6. Mindray Announces Third Quarter 2011 Financial Results
7. Mindray Medical to Exhibit at MEDICA 2011 in Dusseldorf, Germany from November 16-19, 2011
8. Mindray Medical to Exhibit New Products at 66th China International Medical Equipment Fair
9. Mindray to Report Third Quarter 2011 Financial Results on November 7, 2011
10. Mindray Introduces Enhancements for M Series Ultrasound Platforms at ASA
11. Mindray Announces Expansion of its A Series Anesthesia Portfolio
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... 2016 According to a new ... Pen Needles, Safety Pen Needles), Needle Length (4mm, 5mm, ... Mode of Purchase (Retail, Non-Retail) - Trends & Global ... the market for the forecast period of 2016 to ... Billion by 2021 from USD 1.65 Billion in 2016, ...
(Date:6/23/2016)... 2016 Research and Markets has announced ... Forecast to 2022" report to their offering. ... the patients with kidney failure, it replaces the function of ... patient,s blood and thus the treatment helps to keep the ... balance. Increasing number of ESRD patients & ...
(Date:6/23/2016)... , June 23, 2016 Research and ... Devices Medical Market Analysis 2016 - Forecast to 2022" ... The report contains up to date financial data derived ... Assessment of major trends with potential impact on the market ... of market segmentation which comprises of sub markets, regional and ...
Breaking Medicine Technology:
(Date:6/26/2016)... ... June 26, 2016 , ... Many women are ... with endometriosis. These women need a treatment plan to not only alleviate symptoms ... can help for preservation of fertility and ultimately achieving a pregnancy. The specialists ...
(Date:6/25/2016)... Aliso Viejo, California (PRWEB) , ... June 25, 2016 , ... ... preset to fit their specific project," said Christina Austin - CEO of Pixel Film ... all fully customizable and all within Final Cut Pro X . Simply select ...
(Date:6/25/2016)... ... June 25, 2016 , ... On Friday, June 10, Van Mitchell, Secretary of ... award to iHire in recognition of their exemplary accomplishments in worksite health promotion. , ... Workplace Health & Wellness Symposium at the BWI Marriott in Linthicum Heights. iHire was ...
(Date:6/24/2016)... ... June 24, 2016 , ... June 19, 2016 is ... associated with chronic pain and the benefits of holistic treatments, Serenity Recovery Center ... suffering with Sickle Cell Disease. , Sickle Cell Disease (SCD) is a disorder of ...
(Date:6/24/2016)... ... June 24, 2016 , ... Dr. Amanda ... orthodontic treatment. Dr. Cheng has extensive experience with all areas of orthodontics, including ... accelerated osteogenic orthodontics. , Micro-osteoperforation is a revolutionary adjunct to orthodontic treatment. ...
Breaking Medicine News(10 mins):