Mindray Medical International

The company is headquartered in the Chinese city of Shenzhen. Mindray shares are listed on the New York Stock Exchange (ticker MR). As of 2016, the distribution and service network includes branches in 31 countries in North and Latin America, Europe, Africa and the Asia-Pacific region. The company created a global engineering and technology network with centers in Seattle, New Jersey, Miami, Stockholm, Shenzhen, Beijing, Nanjing, Chengdu, Xi'an and Shanghai.

Company structure

The company operates in three main areas:

• Patient Monitoring & Life Support,
• In-Vitro Diagnostic Products и
• Medical Imaging Systems.

History

2020

Mindray CEO earned a billion on IVL supplies

On April 24, 2020, it became known that the fortune of the richest man in Singapore, Li Xiting, increased by a billion dollars per month due to an increase in demand for artificial lung ventilation devices (IVL) manufactured by his company amid the coronavirus pandemic. Read more here.

Production of 3,000 ventilators per month

As of March 2020, the demand for artificial lung ventilation devices (IVL) worldwide is 10 times the number of devices that are in hospitals. This was announced on March 25, 2020 by Bloomberg with reference to the Chinese manufacturer of medical equipment Mindray.

According to Mindray board secretary Li Wenmei, demand is several times higher than the number of orders that the company is able to accept. Production capacity has already been increased, but even this is not enough to fulfill all orders, Wenmei added. In particular, as of March, Mindray produces up to 3 thousand ventilators monthly and, first of all, tries to fulfill foreign orders, the company said.

At the same time, the Chinese company has tripled the production of monitors that track vital signs of patients. Now Mindray produces 30 thousand such devices per month.^[1]

Business growth due to coronavirus outbreak

Li Xiting, co-founder and CEO of Mindray Medical International, the largest Chinese provider of hospital equipment, was included in the list of Chinese billionaires with the largest increase in wealth in the week from March 2 to 6, 2020 during the outbreak of the coronavirus COVID-19. Lee Sithin increased his capital by $1.3 billion or 11% to $13.2 billion. The Shenzhen-based company makes monitoring equipment and reagents for blood tests, which are in high demand. The fortune of another founder of Mindray Medical International, Xui Han, grew by $1.3 billion - to $12.8 billion. 53-year-old Xu heads the board of directors of Mindray^[2].

Just before that, J.P. Morgan raised guidance on Mindray's stock, pointing to a flood of medical equipment orders for hospitals across China. "Urgent orders should lead to sales exceeding forecast in the first quarter of 2020," analyst Sherri Yin wrote in an analysis note. - We also believe that this outbreak of the virus will encourage the government to pay more attention to the standards of resuscitation equipment, which will lead to further demand for infrastructure improvement in the medium and long term. "

2017: Plans to launch joint production of Triton/Mindray in Yekaterinburg

As it became known in early December 2017, the Russian developer and manufacturer of medical equipment Triton-ElectronicsS and the Chinese company Shenzhen Mindray Bio-Medical Electronics Co intend to launch a joint production of medical equipment for anesthesiology and resuscitation under the Triton/Mindray brand in the second quarter of 2018. Read more here.

1993-2012

2012 - Foundation of the Engineering and Technology Center in Miami.

2011 - Acquisition of controlling interest in Shenke, Hyssen, Greenlander IT and TDR Biotech.

2008 - Datascope Corporation acquired the production of patient monitoring systems for $209 million, the company enters third place in the world in the production of patient monitors

2006 - Shares of the company begin to be sold on the New York Stock Exchange under the code "MR"

2006 - the first China in the ultrasound system with color Doppler mapping and a hematological analyzer with differentiation of white blood cells into 5 subpopulations were developed

2004 - first FDA 510 (k) approval, started exporting products to the US market

2003 - China's first automatic biochemical analyzer developed

2001 - China's first digital diagnostic ultrasound imaging system developed

2000 - permission to use the CE mark was obtained for the first time, export of products abroad began

1998 - China's first hematological analyzer developed with leukocyte differentiation into 3 subpopulations

1995 - TUV ISO 9001 certified

1993 - China's first multivariable patient monitor developed

1991: Company established in Shenzhen

1991 - Founding of a company in Shenzhen, China

See also

• Ultrasound devices (world market)

Notes