News Medical reports that on July 17, 2013, China-based medical device developer and manufacturer Mindray Medical International Limited completed the acquisition of Mountain View, California-based ZONARE Medical Systems, Inc. Under the terms of a June 12, 2013 agreement, Mindray paid $101.7 million dollars in cash for the acquisition.
According to its North American and International websites, Mindray is a Chinese medical device company which develops, manufactures, and markets an array of medical devices. Mindray focuses on patient monitoring and life support products; in-vitro diagnostic products; and medical imaging systems. According to ZONARE’s website, ZONARE develops advanced ultrasound imaging systems for diverse applications, particularly for high-end radiology.
Mindray’s co-chief executive officer, Minghe Cheng, states:
We are pleased to complete this acquisition, furthering Mindray’s goal of becoming a leading provider of high-quality imaging products worldwide. 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.