Mindray Medical International Limited (MR), a prominent Chinese medical devices company, recently introduced the A3 anesthesia system, which extends its A series product lineup. The latest addition is a platform for anesthesia delivery that adds depth to the company’s wide array of patient monitoring and ultrasound systems. The new offerings are being showcased at the American Society of Anesthesiologists meeting in Chicago, during October 14 and 18, 2011.
Both the A3 and A5 of Mindray’s A Series portfolio combine operating ease with high-class performance. Their intuitive design demonstrates practical sophistication. The touch screen, measuring 15 inches, permits practitioners to comfortably choose ventilation positions so that they may dedicate more resources to patient care.
Mindray has utilized open architecture and chosen profiles in order to improve interoperability. The A series complies with Integrating the Healthcare Enterprise – Patient Care Domain profiles.
Mindray is a bellwether in the Chinese MedTech industry with a solid international presence. It operates in three segments: Patient Monitoring, In-vitro Diagnostics and Medical Imaging. A key distinction with domestic competitors is that the majority of Mindray’s products have CE Mark and/or Food and Drug Administration (“FDA”) clearance.
Mindray maintains a decent product pipeline and brings out several new products each year. The company plans to bring to market 7 to 10 new products in fiscal 2011 after introducing several new products in fiscal 2010. New products contribute in a major way to Mindray’s revenues.
The company has entered the premium segment globally, where its competitive advantage is still unclear. Also, on the negative side, health care reform, in China and the U.S., may reduce demand for Mindray’s products. Competition is fierce and leads to price erosion over time. The company expects Chinese government tender sales to be a smaller portion of its domestic revenues.
Mindray’s competitors, in different niche segments, include General Electric (GE), Philips (PHG) and Siemens (SI). We currently have a long-term Neutral rating on the stock.
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