Niki Arrowsmith06.18.13
Shenzhen, China-based Mindray Medical International Ltd. has agreed to acquire Zonare Medical Systems Inc. for $105 million. Zonare is based in Mountain View, Calif., and makes ultrasound technology.
Mindray officials expect the acquisition to be mildly dilutive to earnings in 2013 and 2014. Zonare generated sales of approximately $64 million in 2012.
The acquisition will give Mindray a strengthened U.S.-based sales force as well as research and development capabilities. Mindray already has a strong manufacturing process in place, but Zonare brings marketing expertise to the fold.
Mindray plans to keep Zonare’s current operational setup as well as its existing management structure. The deal is expected to close in the third quarter of 2013.
Most of Mindray’s products, though manufactured in China, are CE Marked for sale in the European Union, or cleared by the U.S. Food and Drug Administration for sale in the United States. Last year, Mindray launched 10 new products and acquired four companies.
Mindray officials expect the acquisition to be mildly dilutive to earnings in 2013 and 2014. Zonare generated sales of approximately $64 million in 2012.
The acquisition will give Mindray a strengthened U.S.-based sales force as well as research and development capabilities. Mindray already has a strong manufacturing process in place, but Zonare brings marketing expertise to the fold.
Mindray plans to keep Zonare’s current operational setup as well as its existing management structure. The deal is expected to close in the third quarter of 2013.
Most of Mindray’s products, though manufactured in China, are CE Marked for sale in the European Union, or cleared by the U.S. Food and Drug Administration for sale in the United States. Last year, Mindray launched 10 new products and acquired four companies.