December 10, 2010
Leading Chinese medical devices maker Mindray Medical International Limited (MR) has announced major upgrades to its ultrasound systems at the ongoing Radiology Society of North America (“RSNA”) annual meeting in Chicago. The company will showcase two significant enhancements for its M7 and DC-7 ultrasound platforms at the RSNA.
Mindray will unveil several new upgrades including a broad variety of transducers (devices that converts energy into ultrasonic sound waves) and calculation packages for its M7 and DC-7 systems. The company will also feature two black and white ultrasound systems at the meeting. The new transducers for the M7 system will support a vast range of applications including obstetrics and interventional radiology.
Mindray launched the M7 ultrasound system in the U.S. in August 2010. This novel system leverages the company’s high-performance “System On Chip (SOC)” technology enabling a high level of imaging capability to a portable system. The M7 system integrates several sophisticated imaging features. The company believes that the M7 system provides good value to the customer by combining economy and differentiating attributes.
This higher-end segment of the ultrasound business has recently experienced tremendous growth as more and more healthcare providers acquire sophisticated capability but in compact and portable form. Mindray hopes to capitalize on this shift in hospital purchasing behavior with its M7 offering, which combine value and quality features, not always found in portable machines.
Besides the M7 and DC-7 systems, Mindray will also feature its coveted M5 ultrasound system at the RSNA. The company remains committed to providing clinicians with the latest technology that enhances patient care. Mindray believes that its progress, with the M7 and M5 systems, demonstrates its keenness to impart diagnostic confidence to clinicians using the company’s products. The company’s state-of-the-art ultrasound systems are enjoying significant traction in North America.
With its operational headquarters in Shenzhen, China, Mindray is a global Chinese medical devices company. It operates through three segments: Patient Monitoring and Life Support Products, In-Vitro Diagnostic Products and Medical Imaging Systems.
Besides China, Mindray operates in North America, Europe and other Asian countries. The company competes with global devices manufacturers such as General Electric (GE), Philips (PHG) and Siemens (SI).
Mindray has a strong position in the low and mid segments of the medical devices market in China and is poised to benefit from the solid fundamentals of the Chinese health care sector. Its new product development initiatives, expanding international footprint (and revenues) and solid sales infrastructure remain encouraging.
Although Mindray’s strength is currently in the low and mid-end segments, the companyis looking to carve a niche in the high-end markets. Moreover, Mindray is well positioned to benefit from the health care reforms in China.However, the company is exposed to intense competition-driven pricing pressure.
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