Mindray Medical To Establish New R&D And Manufacturing Base In Nanjing
The planned R&D and manufacturing facility, expected to be operational by 2009, is intended to expand Mindray's presence in the Yangtze Delta region surrounding Shanghai in Eastern China and to strengthen Mindray's ability to attract and retain R&D talent in the region. Research and development activities at the facility will focus on developing products complementary to Mindray's existing product portfolio. The facility will represent Mindray's second manufacturing facility. Currently, Mindray manufactures its products exclusively in Southern China in Shenzhen.
Expansion of our research and development capabilities and manufacturing capacity is a critical part of Mindray's strategic plan. "Our agreement with the government of the Nanjing Jiangning Development Zone demonstrates our commitment to our strategic plan." commented Xu Hang, Chairman and Co-CEO of Mindray. In November 2006, Mindray established an R&D facility in Seattle, Washington to concentrate on advanced technology research related to its color ultrasound product segment. Mindray currently has more than 600 engineers on its staff and has launched more than 30 new products in the last three years.
About Mindray
Mindray Medical International Limited is a leading developer, manufacturer and marketer of medical devices in China with a significant and growing presence worldwide. Established in 1991, Mindray offers a broad range of products across three primary business segments: patient monitoring devices, diagnostic laboratory instruments, and ultrasound imaging systems. Mindray is headquartered in Shenzhen, China, and has 29 local sales and services offices in China, as well as sales and services offices in Boston, Istanbul, London and Vancouver.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements," including those related to the planned non-binding memorandum of understanding to invest up to US$150 million over three and one-half years to build a new research and development and manufacturing facility and the anticipated benefits of the planned facility. These statements are not historical facts but instead represent only our belief regarding future events. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors. The MOU is non-binding and Mindray's total investment may be more or less than anticipated and the timing of its investment may vary. In addition, the planned facility may not open when planned and may not successfully develop or manufacture complementary new products and may not help in attracting and retaining engineering talent. Our ability to build our business and benefit from the planned facility is also subject to a number of factors, risk and uncertainties including the expected growth of the medical device market in China and internationally; relevant government policies and regulations relating to the medical device industry; market acceptance of our products, our expectations regarding demand for our products; our ability to expand our production, our sales and distribution network and other aspects of our operations; our ability to stay abreast of market trends and technological advances; our ability to effectively protect our intellectual property rights and not infringe on the intellectual property rights of others; competition in the medical device industry in China and internationally; and general economic and business conditions in the countries in which we operate.
Contact:
Mindray Medical International Limited Investor Relations: 86 755 2658 2518 IR@mindray.com or
Christensen Mahboob Hossain, 1-480-614-3000 mhossain@ChristensenIR.com
Source: Mindray Medical International Limited