March 12, 2008 - Mindray Medical International Ltd. has reached a definitive agreement to acquire Datascope Corp.’s patient monitoring business, creating upon completion the third-largest player in the global patient monitoring device industry, said Mindray.
Datascope’s patient monitoring business achieved total revenues of $161.3 million in calendar year 2007, approximately the same revenues generated from Mindray’s home China market. 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. David Gibson, Datascope’s vice president and president, patient monitoring division and technology services division, will serve as the president of Mindray’s Datascope patient monitoring business unit upon completion of the transaction. The existing management team is expected to continue post-closing without significant changes along with the rest of the patient monitoring division staff.
Currently, the majority of Datascope’s patient monitoring revenue is generated from sales in North America, with the remainder from markets largely in Europe, the company said.
For more information: www.mindray.com, www.datascope.com