SHENZHEN, China, July 5, 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 Suzhou Hyssen Electronics Co. Ltd (“Hyssen”).
The terms of the agreement were not disclosed as the transaction is
non-material to Mindray’s financial statements.
Founded in 2003 and based in Suzhou, China, Hyssen is one of the
market leaders in automated urine sediment analyzers in China.
Urine sediment analysis can detect kidney and urinary tract
diseases by analyzing blood cells, bacteria, urinary casts, etc.,
in urine samples. Urine sediment and dry chemistry analysis form
urinalysis. Urinalysis, together with hematology and biochemistry
analysis, are the three most common methods used in in-vitro
diagnostic market. In 2010, the diagnostic urinalysis market in
China was approximately $155 million, of which urine sediment
analysis accounted for about 45% of the total, growing at an annual
rate of over 30%.
Mindray expects to achieve synergies in the transaction by
combining its strong engineering, manufacturing, sales and
management platforms with Hyssen’s technology and expertise in
urine sediment analysis. “We are excited about this transaction and
believe that our collaboration will benefit both Mindray and
Hyssen,” said Mr. Minghe Cheng, Mindray’s Chief Strategic Officer.
“Hyssen’s products complement our current in-vitro diagnostic
product offerings in urine dry chemistry, hematology and
biochemistry. With the new additions, we believe that our in-vitro
diagnostic segment can now provide our customers with better and
more complete solutions.”
About MindrayWe are a leading developer, manufacturer and
marketer of medical devices worldwide. We maintain global
headquarters in Shenzhen, China, U.S. headqua