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News

Mindray acquires Datascope's patient monitoring device business

Mindray Medical International : 20 May, 2008  (Company News)
Mindray Medical International acquired Datascope's patient monitoring device business pursuant to the terms of the definitive agreement entered into on March 11, 2008.
The combined business benefits from Mindray's integrated engineering and manufacturing platforms, Datascope's established brands, reputable products and services and extensive direct sales and service capabilities in the USA and Western Europe.

''We are pleased to complete this acquisition, which represents a significant milestone on our path to becoming a leading global medical device company,'' said Xu Hang, Mindray's chairman and co-chief executive officer. ''This transaction ensures sustainable high growth for our international business and gives us immediate access to an established network of hospital customers in the US, the world's single largest healthcare market. We're optimistic about the growth potential of our combined business and believe we are now even better positioned to address the growing trend of cost-conscious healthcare spending worldwide.''

Under the agreement, Mindray has acquired Datascope's patient monitoring device business for a total purchase price of $209 million in cash, as adjusted for working capital at the closing date. Mindray expects to achieve over $30 million in run-rate synergies from the acquisition in the areas of manufacturing, SG and A and R and D in 2011.
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