Shenzhen medical-equipment maker leaps to No 3 in sector
Mindray Medical International, the mainland's largest medical-equipment maker, expects a significant boost in sales across the United States and Europe after its acquisition of medical-technology assets from American rival Datascope last quarter.
Shenzhen-based Mindray, whose products are distributed to medical facilities across the mainland, in March paid US$202 million for the patient-monitoring systems division of Datascope, a 40-year-old business with annual revenue half that of Mindray.
That acquisition vaulted Mindray, which only began exporting products in 2000, into third place among the world's largest suppliers of patient-monitoring devices, with a 9 per cent market share, according to research firm Frost & Sullivan. The patient-monitoring segment is led by Dutch firm Royal Philips Electronics, with a 38 per cent share, and GE Healthcare, with 27 per cent.
At the end of last year, Mindray sold more than 312,350 devices in about 140 countries. In the second half of 2006 revenues generated from international markets exceeded domestic revenues for the first time in the company's history.
North America accounted for 6.8 per cent, roughly US$20 million, of Mindray's US$306 million total revenue last year.