Mindray Medical Provides Mid-Year Update on Product Development and GPO Contracts
In the first half of 2009, the Company released a total of five products,including four new products in their patient monitoring and life support lineand an upgrade to one of their medical imaging products. A full descriptionof the products is provided below.
Mindray also announced today that Mindray USA, which sells the Datascopebrand of patient monitors as well as a newly introduced DPM brand of patientmonitors re-engineered for the North American market, has expanded its GPOcontact base.
"We are very pleased with the progress we have made with our productdevelopment and GPO relationships," commented Mr. Xu Hang, Mindray's chairmanand co-chief executive officer. "Earlier in the year we announced that weplan to launch seven to nine new products in 2009 and we are well on targetfor achieving that goal. Additionally, the DPM product line has now beenadded to contracts in five of the largest GPO's. This provides contractedaccess to this product line for over 85% of the U.S. hospitals and surgerycenters. We will continue to seek to expand our distribution platforms andrapidly bring new high-quality and low-cost products to market whilegenerating new revenue streams in an increasingly price-competitive medicaldevice market."
Both the HyLite 6700/6500 and HyBase 6100 received SFDA and CE marks andare brand new additions to the patient monitoring and life support line,providing even more comprehensive operating room solutions for end users.
To further expand its product portfolio, Mindray expects to launch a totalof seven to nine new products in 2009.
We are a leading developer, manufacturer and marketer of medical devicesworldwide. We maintain global headquarters in Shenzhen, China, U.S.headquarters in Mahwah, New Jersey and multiple sales offices in majorinternational markets. From our main manufacturing and engineering base inChina and through our worldwide distribution network, we are able to supplyinternationally a broad range of products across three primary businesssegments, comprised of patient monitoring and life support products, in-vitrodiagnostic products and medical imaging systems. For more information, pleasevisit http://www.mindray.com .
Safe Harbor Statement
This press release contains "forward-looking statements" within themeaning of the safe harbor provisions of the Private Securities LitigationReform Act of 1995 including those related to the development, shipment, andlaunch of new products, and the application for and receipt of FDA, CE mark,and SFDA regulatory clearance for our products. Statements that are nothistorical facts, including statements about new product releases andregulatory approvals are forward- looking statements. Readers are cautionedthat these forward-looking statements are only predictions and may differmaterially from actual results due to a variety of factors. Forward-lookingstatements involve inherent risks and uncertainties. Information regardingthese risks and uncertainties is included in our public documents filed withthe Securities and Exchange Commission. For a discussion of some of the risksand important factors that could affect Mindray's actual results and financialcondition, see "Risk Factors" in Part I, Item 3D of Mindray's Annual Report onForm 20-F for the fiscal year ended December 31, 2008 and "Operating andFinancial Review and Prospects" in Part I, Item 5 of Mindray's Annual Reporton Form 20-F for the fiscal year ended December 31, 2008. Mindray does notundertake any obligation to update any forward-looking statement, except asrequired under applicable law. All information provided in this press releaseis as of June 30, 2009, and Mindray undertakes no duty to update suchinformation, except as required under applicable law.Products Patient Monitoring and Life Support -- HyLite 6700/6500 -- is a surgical light that can provide sufficient lighting for operations with excellent cavity-lighting capability. -- HyBase 6100 -- is a surgical bed that offers a full-safety guarantee, can suit various surgical disciplines, and provides maximum comfort and great convenience to end users.
SOURCE Mindray Medical International Limited
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