Mindray acquires ZONARE Medical Systems

Mindray Medical International Limited (the "Company" or "Mindray") (NYSE: MR), a leading developer, manufacturer and marketer of medical devices worldwide, announced today that it has completed the acquisition of ZONARE Medical Systems, Inc. ("ZONARE"), an ultrasound technology leader in the high-end radiology segment pursuant to the terms of the previously announced definitive agreement entered into on June 12, 2013.

Under the agreement, Mindray has acquired ZONARE for a total purchase price of US$101.7 million in cash, as adjusted for working capital at the closing date. The Company expects that the combined business will benefit from ZONARE's strong innovative R&D capability and direct sales and service network in the high-end ultrasound market together with Mindray's efficient engineering, extensive distribution channels and broad production platforms.

"We are pleased to complete this acquisition, furthering Mindray's goal of becoming a leading provider of high-quality imaging products worldwide," said Mr. Minghe Cheng, Mindray's co-chief executive officer. "This transaction brings us superior technology that will ultimately accelerate the launch of our next-generation high-end ultrasound product. It also gives us immediate access to the high-end ultrasound market in the countries like U.S., Canada, Scandinavia and Germany. We are optimistic about the transaction and believe we will be better positioned to serve the healthcare market on a worldwide basis for the long run."

Source:

Mindray Medical International Limited

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Mindray. (2019, June 20). Mindray acquires ZONARE Medical Systems. News-Medical. Retrieved on March 27, 2023 from https://www.news-medical.net/news/20130717/Mindray-acquires-ZONARE-Medical-Systems.aspx.

  • MLA

    Mindray. "Mindray acquires ZONARE Medical Systems". News-Medical. 27 March 2023. <https://www.news-medical.net/news/20130717/Mindray-acquires-ZONARE-Medical-Systems.aspx>.

  • Chicago

    Mindray. "Mindray acquires ZONARE Medical Systems". News-Medical. https://www.news-medical.net/news/20130717/Mindray-acquires-ZONARE-Medical-Systems.aspx. (accessed March 27, 2023).

  • Harvard

    Mindray. 2019. Mindray acquires ZONARE Medical Systems. News-Medical, viewed 27 March 2023, https://www.news-medical.net/news/20130717/Mindray-acquires-ZONARE-Medical-Systems.aspx.

Comments

The opinions expressed here are the views of the writer and do not necessarily reflect the views and opinions of News Medical.
Post a new comment
Post
You might also like...
Mindray's net revenues increase 16.5% to $368.4 million in fourth quarter 2013