SHENZHEN, China, Jan 10, 2011 /PRNewswire-Asia-FirstCall/ --
Mindray Medical International Limited (NYSE: MR), a leading
developer, manufacturer and marketer of medical devices worldwide,
today announced updates on new product launches for 2010 and its
product pipeline for domestic and international markets in
2011.
In 2010, the company released a total of ten products, meeting
new product development goals outlined at the beginning of the year
and increasing its total number of products on the market to over
80. Five of the new products came from its patient monitoring and
life support product line, including two V series patient monitor
system products, V21 and V12 patient monitoring systems, the
surgical lights HyLed 9700/9500, the surgical bed HyBase 1000, and
the ceiling pendent systems HyPort 9000. Mindray also released
three new products in the medical imaging product line, including
the M7 portable color ultrasound system, the DigiEyes760 digital
radiography, as well as the first generation MRI product, Magsense
360. In the in-vitro diagnostic product line, two new products were
launched, including BS-800 auto biochemistry analyzer and a
hematology analyzer BC-3600 modular system.
2011 New Product Pipeline
To further expand the addressable markets, the company expects
to launch between seven and ten new products in 2011 with an
emphasis on both high-end and low-end market opportunities.
In 2011, the patient monitoring and life support product
lines will yield additional products and enhancements. Areas for
planned product expansion include patient monitoring, defibrillator
and anesthesia delivery. For the in-vitro diagnostic product line,
Mindray plans to develop more advanced hematology analyzer, as well
as several reagents. Additionally, the medical imaging product line
plans to unveil the feature enhanced color ultrasound unit, some
low end black and white ultrasound units and a more advanced
digital radiography system.
"We are pleased that we again met our product development goals
in 2010," commented Mr. Xu Hang,
Mindray's Chairman and Co-Chief Executive Officer. "In this
uncertain and increasingly price-competitive healthcare market,
Mindray remains committed to innovation to meet the specific needs
of our customers in various geographies. In 2011, we plan to
increase our R&D investment and launch another seven to ten new
products to support our continued growth. Additionally, we will
continue to realize synergies with Mahwah operations with expansion plans for
both the patient monitoring, anesthesia delivery and ultrasound
product lines. New products will fuel additional cross-selling and
market share gain opportunities. We remain confident that Mindray
is well positioned and prepared to continue to meet the market's
ever-changing needs."
About Mindray
We are a leading developer, manufacturer and marketer of medical
devices worldwide. We maintain global headquarters in Shenzhen, China, U.S. headquarters in
Mahwah, New Jersey and multiple
sales offices in major international markets. From our main
manufacturing and engineering base in China and through our worldwide distribution
network, we are able to supply internationally a broad range of
products across three primary business segments, comprised of
patient monitoring and life support products, in-vitro diagnostic
products and medical imaging systems. For more information, please
visit http://ir.mindray.com.
Safe Harbor Statement
This press release contains "forward-looking statements" within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Statements that are not historical
facts, including statements about Mindray's anticipated net
revenues and non-GAAP net income for 2010, the applicable
China corporate income tax rate
for 2011, our ability to restore growth in non-tender sales,
projected growth of our market share in 2011, projected growth of
net revenues in 2011, our ability to grow profits and market share,
new market penetration, expansion of our presence in emerging
markets, improving our developed market sales capabilities and
improving the effectiveness of our working capital utilization are
forward-looking statements. Readers are cautioned that these
forward-looking statements are only predictions and may differ
materially from actual results due to a variety of factors. The
anticipated results for 2010 remain subject to the finalization of
Mindray's year-end closing, reporting, and audit processes,
particularly as related to accrued expenses, income taxes, share-
based compensation expenses, and expense and/or amortization of
intangible assets. The financial information contained in this
release should be read in conjunction with the consolidated
financial statements and notes thereto included in our public
filings with the Securities and Exchange Commission. For a
discussion of other important factors that could adversely affect
our business, financial condition, results of operations and
prospects, see "Risk Factors" beginning on page 7 of our annual
report on Form 20-F, filed on May 7,
2010. Our results of operations for the fourth quarter of
2010 and for fiscal year 2010 are not necessarily indicative of our
operating results for any future periods. Any projections in this
release are based on limited information currently available to us,
which is subject to change. Although such projections and the
factors influencing them will likely change, we will not
necessarily update the information. Such information speaks only as
of the date of this release.
For investor and media inquiries
please contact:
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In the U.S.:
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Hoki Luk
Western Bridge, LLC
Tel:
+1-646-808-9150
Email:
hoki.luk@westernbridgegroup.com
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In China:
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May Li
Mindray Medical International
Limited
Tel:
+86-755-2658-2518
Email: may.li@mindray.com
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SOURCE Mindray Medical International Limited