Seven New Products Launched in 2007
SHENZHEN, China, Jan. 7 /Xinhua-PRNewswire-FirstCall/ -- Mindray Medical International Limited (NYSE: MR), a leading developer, manufacturer and marketer of medical devices in China with a rapidly growing international presence, today announced updates on new product launches and its product pipeline for domestic and international markets.
“Leveraging world class R&D, Mindray provides products tailored by both cost and functionality across markets in over 140 countries worldwide,” said Mr. Xu Hang, Mindray’s chairman and co-chief executive officer. “It is our goal to release seven to nine high-quality, competitively-priced products every year, which we achieved in 2007.”
Latest product launches and approvals
In November 2007, the company released the BS-120, a low-throughput biochemistry analyzer targeted at replacing semi-automatic bio-chemistry analyzers. It is well positioned for hospitals and clinics in rural China as well as small hospitals and labs in international markets. It can also serve as a backup machine for large hospitals and labs. The BS-120 has received CE Mark and State Food and Drug Administration (“SFDA”) approval and is available in both domestic and international markets.
In December 2007, the company released the M5, a portable diagnostic ultrasound system for international markets. The M5 will target traditional markets such as radiology and OB/GYN as well as Point-of-Care-Testing (“POCT”) centers such as emergency and operating rooms, intensive care units and general practice offices. The M5 is expected to be launched in the domestic market upon SFDA approval in the first quarter 2008.
In 2007, the company released a total of seven products including the Beneview T5 patient monitoring device, PM-60 pulse oximeter, BS-400 biochemistry analyzer, MR-96A enzyme-linked analyzer, MW-12A microplate washer, BS-120 biochemistry analyzer and the M5 portable diagnostic ultrasound system.
The PM-7000, a multi-parameter patient monitoring device received US Food and Drug Administration (“FDA”) 510(k) clearance in the fourth quarter 2007.
New product and approval pipeline
In order to gain market share in the high-end market segment, the company plans to release its BC-5300 and BC-5380. Both models are compact five-part hematology analyzers, targeted for mid-to-high-end hospitals in China and medium-end labs in international markets.
The BC-5300 and BC-5380 are expected to receive SFDA approval by the end of January 2008 and CE Mark in the first quarter 2008.
The company expects its DC-3 color ultrasound diagnostic imaging system to be launched in China and international markets upon receiving CE Mark and SFDA clearance in the first quarter 2008. The DC-3 is designed to have wide applications in abdominal, OB/GYN, endovaginal, cardiac, small parts and pediatric markets. The product is suited for hospitals and clinics seeking replacement of B/W ultrasound systems.
The company expects its EX55 and EX65 compact anesthesia machines to receive CE Mark and SFDA approval during the first quarter 2008.
The company will apply for FDA 510(k) clearance for its Beneview T5, T6, T8, PM-60, BS-200 chemistry analyzers and both its M5 and DC-3 diagnostic ultrasound systems. Mindray has to date received FDA 510(k) clearance for a total of 11 products, covering patient monitoring devices, diagnostic laboratory instruments and ultrasound imaging systems.
About Mindray
Mindray Medical International Limited is a leading developer, manufacturer and marketer of medical devices in China with a significant and growing presence worldwide. Established in 1991, Mindray offers a broad range of products across three primary business segments: patient monitoring devices, diagnostic laboratory instruments, and ultrasound imaging systems. Mindray is headquartered in Shenzhen, China, and has 29 local sales and service offices in China, as well as sales and service offices in Amsterdam, Boston, Istanbul, London, Mexico City, Moscow, Mumbai, Sao Paulo, Seattle, Toronto and Vancouver. For more information, please visit http://www.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 new product releases and regulatory approvals 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, 2006 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, 2006. 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, 2008, and Mindray undertakes no duty to update such information, except as required under applicable law.
For investor and media inquiries please contact:
In China:
Investor Relations
Mindray Medical International Limited
Tel: +86-755-2658-2518
Email: IR@Mindray.com
Justin Knapp
Ogilvy Public Relations Worldwide, Beijing
Tel: +86-10-8520-6556
Email: Justin.Knapp@Ogilvy.com
In the United States:
Jeremy Bridgman
Ogilvy Public Relations Worldwide, New York
Tel: +1-212-880-5363