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Mindray Medical to Acquire a Controlling Stake in Shenke Medical
Date:2/28/2011

SHENZHEN, China, Feb. 28, 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 Shenzhen Shenke Medical Instrument Technical Development Co. Ltd. The terms of the transaction were not disclosed as the transaction is non-material to Mindray's financial statements.

Founded in 2004 and based in Shenzhen, China, Shenke Medical is one of the leading infusion pump manufacturers in China. The company also manufactures syringes and infusion monitoring management systems. Infusion pumps are medical devices that deliver fluids, including nutrients and medications such as antibiotics, chemotherapy drugs, and pain relievers, into a patient's body in controlled amounts. It is widely used in ICUs, pediatric offices, emergency rooms and operating rooms. The syringe pump and infusion pump market in 2009 was estimated to be around $76 million in China with an annual growth rate of approximately 20%. The international market in 2009 was estimated to be around $1 billion with an annual growth rate of approximately 10%. About 100 employees from Shenke will be added to Mindray, and the combined company will have more than 6,900 employees in total. Shenke currently sells its products in China as well as international markets.

Mindray expects to achieve synergies in the transaction by combining its strong engineering, manufacturing, sales and management platforms with Shenke's brand name, technology and expertise in the infusion pump area. "We are excited about this transaction and believe that our collaboration will benefit both Mindray and Shenke," said Mr. Minghe Cheng, Mindray's Chief Strategic Officer. "We expect Shenke's infusion pump products to complement Mindray's patient monitoring and life support product line in
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SOURCE Mindray Medical International Limited
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