SHENZHEN, China, Jan. 7 /PRNewswire-Asia/ -- Mindray Medical International Limited (NYSE: MR), a leading developer, manufacturer and marketer of medical devices worldwide, today announced updates on new product launches for 2009 and its product pipeline for domestic and international markets in 2010.
In 2009 the Company released a total of ten products, exceeding new product development goals outlined at the beginning of the year and increasing its total number of products on the market to over 70. Seven of the new products came from its patient monitoring and life support product line, including: two patient monitors, the Accutorr V and Passport V; the NetGuard clinical alert system; the WATO EX20/30 anesthesia machines; the Company's first surgical lights HyLite 6700/6500; its first surgical bed HyBase 6100; and its first ceiling pendent systems HyPort 3000/6000/8000. Mindray also released two new products in the medical imaging product line, including the DC-7 color ultrasound system, the DP 6900 portable black and white ultrasound system and one new product, the BC 5800 hematology analyzer, in the in-vitro diagnostic product line.
2010 New Product Pipeline
To further expand the addressable markets, the Company expects to launch between seven and ten new products in 2010 with an emphasis on higher end market opportunities. In 2010, the patient monitoring and life support product lines will yield additional products and enhancements. Areas for planned product expansion include patient monitoring, anesthesia delivery, surgical lights, surgical beds and ceiling pendent systems. For the in-vitro diagnostic product line, we plan to develop a more advanced biochemistry analyzer and several reagents. Additionally, the medical imaging product line plans to unveil a feature enhanced portable color ultrasound unit and a more advanced digital radiography system.
"In 2009 we continued our aggressive pace of product development," 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 innovating to meet the specific needs of our customers in various geographies. In 2010, Mindray plans to launch another seven to ten new products to support our continued growth. Strategically, we plan to launch more high-end products to help us penetrate into the higher-end market segments. Additionally, we will continue to realize synergies with Mahwah operations with expansion plans for both the patient monitoring and anesthesia delivery product lines. New products will fuel additional cross-selling and market share gain opportunities. There is no doubt that 2010 brings a number of uncertainties for medical device companies, but 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 including those related to the development and launch of new products and enhancements, expansion of addressable markets, penetration of higher-end market segments, and additional cross-selling and market share gain opportunities. Statements that are not historical facts, including statements about new product development and releases, our ability to provide new reagents, to achieve synergies, to penetrate high-end markets, and to cross-sell and gain new market share opportunities 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. Forward-looking statements involve inherent risks and uncertainties. Information regarding these risks and uncertainties is included in our public documents filed with the Securities and Exchange Commission. For a discussion of some of the risks and important factors that could affect Mindray's actual results and financial condition, see "Risk Factors" in Part I, Item 3D of Mindray's Annual Report on Form 20-F for the fiscal year ended December 31, 2008 and "Operating and Financial Review and Prospects" in Part I, Item 5 of Mindray's Annual Report on Form 20-F for the fiscal year ended December 31, 2008. Mindray does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release is as of January 7, 2010, and Mindray undertakes no duty to update such information, except as required under applicable law.
For investor and media inquiries please contact:
In the U.S.:
Evan Smith, CFA
FD
Tel: +1-212-850-5606
Email: evan.smith@fd.com
John Capodanno
FD
Tel: +1-212-850-5705
Email: john.capodanno@fd.com
In China:
Cathy Gao
Tel: +86-755-2658-2518
Email: cathy.gao@mindray.com
