Interview: Xu Hang – CEO, Mindray, China
In the last decade the medical device sector has undergone a lot of change; China has become a net importer to a net exporter of these devices. What is your…
Address: Mindray Building, Keji 12th Road South, High-tech Industrial Park, Nanshan, Shenzhen 518057, P. R. China.,China
Tel: +86 (755) 26582888
Web: http://www.mindray.com/main/index.jsp
Mindray was founded in 1991 in Shenzhen, China, with a mission to deliver high-quality, competitively priced medical devices to make healthcare more accessible and affordable around the world. Over the last 18 years, Mindray has become a leading developer, manufacturer and marketer of medical devices worldwide. According to Frost & Sullivan, in 2006 Mindray attained a leading market share in China both by units sold and revenue for the sale of patient monitoring devices. Mindray also holds a leading market share in China in the three-part differentiation hematology analyzer, biochemistry analyzer and black and white ultrasound imaging system segments.
Our success has been deeply rooted in our commitment to invest approximately 10% of our revenues into R&D every year. With more than 1,530 engineers on staff, Mindray has built a world-class platform that capitalizes on low-cost China based R&D operations and a culture that is driven by ingenuity, and both individual and team performance. Mindray currently offers more than 40 products across three business segments including patient monitoring devices and life support products, in-vitro diagnostic instruments and medical imaging systems. Mindray expects to continue to introduce six to eight new products each year to broaden market reach. Mindray is confident that our growing comprehensive portfolio of high-quality, affordable products will allow the company to continue gaining market share both domestically and internationally.
In China, Mindray has distributed products to over 40,000 hospitals, clinics, and healthcare facilities. Outside China, Mindray has sold devices in over 190 countries. Mindray began exporting our products for the first time in 2000; and in the second half of 2007, revenues generated from international markets exceeded domestic revenues for the first time in Mindray’s operating history.
By June 2009, Mindray had a total of approximately 5,600 employees worldwide, and Mindray is expanding its distribution, sales and service network to bring products closer to end users. Mindray currently has 29 branch companies in major cities of China, as well as 12 overseas subsidiaries in Amsterdam, Frankfurt, Istanbul, London, Mexico City, Milan, Moscow, Mumbai, Sao Paulo, Seattle, Toronto and Vancouver.
Mindray’s American Depositary Shares (ADSs) are listed on the New York Stock Exchange (NYSE) under the symbol MR.
patient monitoring, diagnostics and ultrasound imaging systems
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