Ten New Products Launched in 2008, Seven to Nine Additional Products Planned for 2009, including New Product Lines of Surgical Lights and Beds
SHENZHEN, China, Jan. 16 /PRNewswire-Asia-FirstCall/ -- Mindray Medical International Limited (NYSE: MR), a leading developer, manufacturer and marketer of medical devices worldwide, today announced updates on new product launches and its product pipeline for domestic and international markets in 2009.
In 2008 the Company released a total of ten products, achieving the goals for new product development outlined for the year, bringing the total number of products selling in the market to over 60. These products include four new products in patient monitoring and life support segment, the iPM 9800 patient monitor, the BeneHeart D6/D5 defibrillator, the EX55/65 compact anesthesia machines, and the AS3000 anesthesia delivery system. Mindray also released three new products in the medical imaging segment, including the DC-3 color ultrasound system, the DigiEye 560T and the DigiEye 561T digital radiography machines, and three new products in the in-vitro diagnostic segment, including the BC 5300/5380 hematology analyzer, the BS-380 biochemistry analyzer, and the BA88A semi-automatic biochemistry analyzer.
Additionally, in 2008 Mindray received US Food and Drug Administration ("FDA") 510(k) clearance for nine products, including the Beneview patient monitoring product series and the AS 3000 anesthesia delivery system, developed by Datascope Patient Monitoring ("DPM"), a Mindray company. To date, Mindray has received FDA 510(k) clearance for a total of 28 products, covering patient monitoring and life support products, in-vitro diagnostic products and medical imaging systems.
To further expand its product portfolio, Mindray expects to launch seven to nine new products in 2009. Also, in 2009 the company will apply for FDA 510(k) clearance for four products. Upon approval, these products will help enhance Mindray’s presence in the US market.
"Our rapid product development capability is an important strategic advantage for Mindray, as it continues to generate new revenue streams in an increasingly price-competitive medical device market," remarked Mr. Xu Hang, Mindray’s chairman and co-chief executive officer. "We place a high priority on investing in our low-cost, high-skilled R&D team which enables us to respond quickly to new market opportunities and tailor products to meet customer demand for competitively priced medical devices with reliable and sophisticated functionality. In 2009, we plan to launch another seven to nine new products to support future growth. This target includes the launch of two jointly developed monitors under DPM that will bring us significant
cross-selling and market share gain opportunities. Altogether, we are well positioned for 2009 and beyond as hospitals seek the most cost-effective budget spending for their investment without sacrificing quality in the current environment."
Latest Product Launches
In December 2008, Mindray released the iPM-9800, a portable
multi-parameter patient monitor targeting middle-end markets including general wards, operating rooms, intensive care units, neonatal intensive care units and private hospitals.
Mindray also released the BeneHeart D6/D5, a portable defibrillator targeting middle- to high-end markets, including emergency rooms, intensive care units, critical care units and community clinics. The launch of the BeneHeart D6/D5 will enhance Mindray’s presence in the emergency market.
Additionally, Mindray released the BS-380, a biochemistry analyzer with the features of constant throughput of 300 tests per hour and a sophisticated 8-step auto wash system. The BS-380, targeted at medium-sized hospitals and labs in both Chinese and international markets, will further expand Mindray’s geographic coverage by offering customers more economical options.
Each of the three products has already received CE Mark approval in Europe and is expected to be launched in China upon SFDA approval in the second quarter 2009.
Lastly, Mindray released in China the DigiEye 561T, the company’s second digital radiography machine, which will ship in China in the first half of 2009. The DigiEye 561T is a more cost-efficient version of the DigiEye 560T.
2009 New Product Pipeline
To further expand the addressable market opportunity for Mindray, the Company expects to launch between seven and nine new products in 2009. Key products include the Company’s first surgical light, its first surgical bed, its third digital radiography machine, a more advanced color ultrasound system and a line of economical anesthesia machines. More detailed information on each product will be provided at the time of launch.
Additionally, Mindray and DPM will launch their first two
jointly-developed patient monitoring devices in 2009.
About Mindray
Mindray is a leading developer, manufacturer and marketer of medical devices worldwide. Established in 1991, Mindray offers a broad range of products across three primary business segments: patient monitoring & life support products, in-vitro diagnostic products and medical imaging systems. Mindray is globally headquartered in Shenzhen, China, with U.S. headquarters in Mahwah, New Jersey. Mindray also has another 12 international sales and service offices in Amsterdam, Frankfurt, Istanbul, London, Mexico City, Moscow, Mumbai, Paris, Sao Paolo, Seattle, Toronto and Vancouver.
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, shipment, and launch of new products, and the application for and receipt of FDA, CE mark, and SFDA regulatory clearance for our products. 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, 2007 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, 2007. 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 16, 2009, and Mindray undertakes no duty to update such information, except as required under applicable law.
For more information, please visit http://www.mindray.com .
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
Mindray Medical International Limited
Tel: +86-755-2658-2518
Email: cathy.gao@mindray.com
