Mindray Lines Up Seven to Nine New Products for 2009

| About: Mindray Medical (MR)

Mindray Medical (NYSE: MR) provided an overview of its new products, saying that it released ten new products in 2008 and expects to bring to market an additional seven to nine products in 2009.

In 2008, the ten new products included:

  • Four new patient monitoring and life support products: the iPM 9800 patient monitor, the BeneHeart D6/D5 defibrillator, the EX55/65 compact anesthesia machines, and the AS3000 anesthesia delivery system;
  • Three new medical imaging products: the DC-3 color ultrasound system, the DigiEye 560T and the DigiEye 561T digital radiography machines; and
  • Three new in-vitro diagnostic products: the BC 5300/5380 hematology analyzer, the BS-380 biochemistry analyzer, and the BA88A semi-automatic biochemistry analyzer.

This brings the total number of products in Mindray’s portfolio to more than 60.

In addition, 2008 was notable for Mindray because it received FDA 510(k) clearance for nine products, raising its total in that category to 28. One of the newly approved products was the AS 3000 anesthesia delivery system, which was developed by its recently acquired subsidiary, Datascope Patient Monitoring. Mindray expects to apply for 510(k) clearance for an additional four products in 2009. The goal is to increase the company’s presence in the US market.

Mr. Xu Hang, Mindray’s chairman and co-CEO, said the seven to nine new products for 2009 include two jointly developed monitors from its DPM subsidiary. These products promise opportunities for significant cross-selling and gain in market share.

Mindray also expects to market its first surgical light, its first surgical bed, its third digital radiography machine, a more advanced color ultrasound system and a line of economical anesthesia machines.

With hospital spending tending toward the most cost-effective alternatives, Mindray feels it is correctly positioned for the coming year’s economic environment.

Mindray also issued short profiles of three of its most recently launched products:

  • the iPM-9800 – a portable multi-parameter patient monitor targeting middle-end markets including general wards, operating rooms, intensive care units, neonatal intensive care units and private hospitals;
  • the BeneHeart D6/D5 – a portable defibrillator targeting middle- to high-end markets, including emergency rooms, intensive care units, critical care units and community clinics; and
  • the BS-380 – a biochemistry analyzer with the features of constant throughput of 300 tests per hour and a sophisticated 8-step auto wash system, targeting medium-sized hospitals and labs that seek economical options.

These three products have all received CE Mark approval in Europe. They will be launched in China upon SFDA approval, which is expected in the second quarter of 2009.

Disclosure: none.