Mindray to Acquire Datascope’s Patient Monitoring Line for $202 Million
March 11, 2008 - Mindray Medical International Ltd. signed a definitive agreement to acquire Datascope Corp.’s patient monitoring business, reportedly making Mindray the third-largest player in the global patient monitoring device industry.
Datascope’s patient monitoring business earned total revenues of $161.3 million in year 2007. The transaction is expected to be accretive to Mindray’s earnings per share on a non-GAAP basis starting in 2009.
The company plans to maintain Datascope’s existing branded product lines and to continue manufacturing Datascope products in the U.S. Currently, the majority of Datascope’s patient monitoring revenue is generated from sales in North America, with the remainder from markets largely in Europe.
Datascope’s strength is in direct sales to under-300 bed hospitals and in key niche areas in the U.S. and Europe. Mindray plans to benefit from Datascope’s patient monitoring product pipeline as well as its existing innovative, wireless monitoring solution, NetGuard, for detecting unexpected cardiac events in previously unmonitored patients, which recently received FDA approval.
For more information: www.mindray.com