Mindray's Voluntary Recall - Analyst Blog
20 Novembre 2012 - 12:50PM
Zacks
Chinese medical devices major
Mindray Medical International Limited (MR)
recently revealed a voluntary recall impacting its A3/A5 Anesthesia
Delivery System. The company launched the recall on account of an
admitted chance of a leak in the system due to inappropriate
positioning of the carbon dioxide absorbent gasket in the canister.
Clients with a system (s) that may be recalled were informed via
postal mail on August 8, 2012. As of November 14, 2012, about 70%
of the sets impacted by this action had been rectified. The matter
is rectified by the substitution of the gasket in the canister by a
Mindray representative.
Sets with the impacted gaskets were dispatched between May 31, 2011
and July 15, 2012 in Australia, Latin America and the U.S. The
company has informed the Food and Drug Administration (FDA) about
the voluntary recall. Quality problems and negative reactions may
be reported to the FDA by fax, normal mail or via the Internet.
Mindray is a bellwether in the Chinese MedTech industry with a
solid international presence. A key distinction with domestic
competitors is that the majority of Mindray’s products have CE Mark
and/or Food and Drug Administration (“FDA”) clearance.
Mindray maintains a decent product pipeline and brings out several
new products each year. New products contribute in a major way to
Mindray’s revenues. In fiscal 2011, the company launched 13 new
products.
The company has entered the premium segment globally, where its
competitive advantage is still unclear. Also, on the negative side,
health care reform in China and the U.S., may reduce demand for
Mindray’s products. Competition is fierce and leads to price
erosion over time.
Mindray’s competitors, in different niche segments, include GE
Healthcare, a part of General Electric (GE),
Philips (PHG) and Siemens (SI).
The stock currently retains a Zacks #3 Rank, which translates into
a short-term “Hold” rating.
GENL ELECTRIC (GE): Free Stock Analysis Report
MINDRAY MEDICAL (MR): Free Stock Analysis Report
KONINKLIJKE PHL (PHG): Free Stock Analysis Report
SIEMENS AG-ADR (SI): Free Stock Analysis Report
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