Mindray

Mindray Medical International Limited

Headquarters in Shenzhen
Company type	Public
Traded as	SZSE: 300760
Industry	Medical Devices
Founded	1991; 33 years ago (1991) Shenzhen
Headquarters	Shenzhen, Guangdong, China
Key people	Li Xiting (President and co-CEO) Xu Hang (co-CEO) Cheng Minghe (Executive VP)
Products	Patient Monitors, ECG, Pulse Oxymeters, Telemetery, Ultrasound Systems, Anesthesia Delivery Systems, Hematology Analyzers, Chemistry Analyzers, Regents, Veterinary Equipment
Revenue	$4.3 billion USD (2022)
Net income	$1.359 Billion USD (2022)
Number of employees	7,500 (2019)[1]
Website	www.mindray.com

Mindray Medical International Limited (simplified Chinese: 迈瑞医疗国际有限公司; traditional Chinese: 邁瑞醫療國際有限公司; pinyin: Màiruì Yīliáo Guójì Yǒuxiàn Gōngsī) is a Chinese multinational medical instrumentation manufacturer based in Shenzhen, Guangdong. Mindray designs and produces medical equipment and accessories for both human and veterinary use. The company is organized into three key business lines: Patient Monitoring & Life Support, In-Vitro Diagnostic Products, and Medical Imaging Systems. In 2008, Mindray was recognized as China's largest medical device manufacturer.^[2]

History

Mindray was founded in 1991 in Shenzhen, Guangdong by seven former employees of Anke (安科), including Li Xiting (李西廷), Xu Hang (徐航) and Cheng Minghe (成明和).^[3] It grew by providing domestic patient monitoring, imaging, and other diagnostic products. Mindray maintains 41 subsidiaries and branch offices in 31 countries, as well as 32 branch offices in China. Mindray was listed on the NYSE in September 2006 and delisted in March 2016 to apply for a re-listing in China's A-Share market.^{[citation needed]} Mindray was re-listed in the Shenzhen Stock Exchange in October 2018.^{[citation needed]}

Mindray faced hiring controversy at the end of 2018 when it rescinded job offers from 254 university students due to changing economic conditions.^[4] The company reinstated the offers in early 2019 citing 'corporate social responsibility' after public outcry.^[5]

Mindray partnered with Korle Bu Teaching Hospital in January 2019 to improve diagnostic patient care in Ghana. The company donated a SAL 6000 analyzer to improve local lab test efficiency.^[6]

Divisions

The Patient Monitoring & Life Support division develops and manufactures multi-parameter patient monitors, biotelemetry systems, anesthesia delivery systems, defibrillators, ECG machines, pulse oxymeters, hospital beds, mounting systems and IT solutions.^[7] In 2008, Mindray purchased the Patient Monitoring division of Datascope Corporation for $209 million to expand their presence outside of China.

The In-Vitro Diagnostic division provides data and analysis on blood, urine, and other bodily fluid samples for clinical diagnosis and treatment. This segment offers a range of semi-automated and fully automated diagnostic laboratory instruments for laboratories, clinics, and hospitals. Its products include hematology analyzers, biochemistry analyzers, reagents, a microplate reader and a microplate washer.

Notes

1. "About". Mindray.
2. "China's Largest Medical Device Manufacturer". Retrieved 2008-02-04.
3. "中国合伙人：迈瑞三剑客创业史". Sina. 2017-03-15. Retrieved 2019-05-10.
4. "How China's economic woes are smashing its top graduates' dreams". South China Morning Post. 7 January 2019.
5. "You're rehired! Chinese firm restores job offers to over 200 graduates". South China Morning Post. 9 January 2019.
6. "Korle-Bu Hospital inaugurates state-of-the-art analyzer laboratory". BusinessGhana.
7. "Frost & Sullivan Commends Mindray Medical International for its Global Excellence in Patient Monitoring" (Press release). Frost & Sullivan. 2007-07-30. Retrieved 2009-01-19.