Chinese Medical Firm Buys Into U.S.
By NICHOLAS ZAMISKA
March 12, 2008; Page A4
HONG KONG -- Mindray Medical International Ltd., one of China's top medical-device makers, will acquire Datascope Corp.'s patient-monitoring business for $202 million, as the company strives to become an international player.
The deal between Mindray, of Shenzhen, China, and Datascope, of Montvale, N.J., comes as Chinese health-care companies increasingly look to overseas markets to build on profits made on low-cost manufacturing at home.
The purchase of the Datascope business, which had revenue of $161.3 million last year, will give Mindray access to Datascope's network of sales and service representatives, some 90 people who peddle the company's products to hospitals and surgery centers across the U.S. Building that kind of network from scratch would have been a challenge, said Joyce Hsu, Mindray's chief financial officer.
"We will be able to acquire a very large and established sales and distribution network in the U.S.," she said in an telephone interview yesterday.
Datascope wasn't available to comment.
Mindray, founded in 1991, makes patient monitors, blood analyzers, ultrasound equipment and other devices.
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