Mindray Medical: Devising Ways to Sell Medical Devices Abroad
Published: Nov 27, 2012
Chinese healthcare equipment maker Mindray continues to gain recognition overseas despite some ongoing prejudice, reports Cecily Liu in London David Yin, managing director of Europe at the Shenzhen-based Mindray Medical International Ltd, recalled that his team's first order from overseas was the result of "an accident". In 2000, a British company's attention was caught by the "made in China" label displayed on Mindray products at Medica, a trade fair in Germany. The company, which Mindray declined to identify, took the product to a British hospital for a quality assessment and bought it after being assured that it was up to standard. Mindray is now a large player in the medical devices industry, exporting products to 190 countries and regions. In 2011, it had $881 million in net revenue, more than half of which was generated overseas. "We are committed to international expansion, especially in Europe and the United States," Yin said. "These two markets are like two fortresses we have to conquer to become a truly global leader. "In the process of selling our products to Europe and the US, we learn about their strict standards. These lessons become invaluable for our product development at home." Devising ways to sell medical devices abroad Yin said Mindray's success in Europe and the US has helped it gain the trust of both domestic customers and customers in other emerging economies, who had often favored Western products in the past.