mindray profile

SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS CO., LTD.
Mindray Building, Keji 12th Road South, High-tech Industrial Park, Nanshan,
Shenzhen 518057, P.R. China
Tel: +86 755 26582888 Fax: +86 755 26582680
Website: www.mindray.com
Mindray is listed on the NYSE under the ticker “MR”
P/N:BROCHURES-450305-201004
2010 Shenzhen Mindray Bio-Medical Electronics Co., Ltd. All rights reserved.
VISION
We will make better healthcare solutions
more accessible to humanity.
MISSION
Improve healthcare by optimizing
and sharing medical technologies with the world.
CONTENTS
Shenzhen is a beautiful coastal city in South China, and is one
of the “31 Places to Go in 2010” listed by The New York Times.
Shenzhen borders Hong Kong and covers an area of 1,953 km²
(754 sq. miles) with over ten million (2008 est.) inhabitants.
Profile
1
After becoming the first special Chinese economic zone in
Global Expansion
3
1980, it grew into a prosperous metropolis with an
Customer Focus
5
R&D
7
is impressive not only in terms of growth, but also in the
Products
9
strength of its industries like hi-tech, finance, foreign trade,
Manufacturing & Quality
15
Our Services
17
Corporate Citizenship
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Milestones
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astounding annual growth rate of 15% , boasting the highest
GDP per capita in mainland China. This young and vibrant city
exports and shipping.
The hi-tech industr y contributes nearly one third to
Shenzhen's GDP, firmly making the city the “Silicon Valley” of
China. Innovation is the industry’s growth engine, and the
greatest innovations happening in China can be found in
Shenzhen's Hi-Tech Park where Mindray is headquartered.
Profile
Who We Are
Mindray was founded in 1991 with the goal of delivering
Ca n a d a , Fr a n c e, I n d i a , I n d o n e s i a , I t a l y, M e x i c o, t h e
high-quality, competitively priced medical devices to make
Netherlands, Russia, Turkey, the UK and the USA. Additionally,
healthcare more accessible and affordable around the world.
the acquisition of Datascope Corporation's patient
In 2006, Mindray listed on the New York Stock Exchange and is
monitoring business has added significant direct sales and
now a leading developer, manufacturer and marketer of
service capabilities on the ground in the U.S. and Western
medical devices worldwide.
Europe.
The company has three well-established business segments:
Mindray has a global R&D network with research centers in
Patient Monitoring and Life Support Products, In-Vitro
Shenzhen, Beijing, Nanjing, S eattle, New Jersey and
Diagnostic Products and Medical Imaging Systems. Health
Stockholm. Over 1,400 engineers are employed in the network
care facilities equipped with Mindray's products can be found
and approximately 10% of total revenue has been consistently
in over 190 countries and regions. A sound distribution and
invested into R&D each year. An average of eight new products
service network has been formed with 29 branch offices
have annually been introduced to the market over the past
throughout China, and overseas subsidiaries in Brazil,
seven years.
A Public Listed Company
On September 26, 2006 Mindray was successfully listed on the
New York Stock Exchange(NYSE), the largest exchange in the
world by dollar volume. The NYSE listing not only recognizes
our efforts and excellence in improving corporate operations
and providing quality products for the past 15 years, but also
gives Mindray a global presence along with new
opportunities and challenges. The listing was part of a longterm plan to implement the best practices in all aspects of our
business including R&D, manufacturing, quality control, sales,
distribution, finance and corporate governance.
In accordance with international laws, standards and
past several years has proven valuable for continued and
practices, we are becoming a formidable global competitor
sustainable growth: R&D and new product launches have
and we’re proud to say that customer confidence is at an all
been accelerated. The domestic market lead has been
time high. Our Initial Public Offering and changes in
sustained and further expanded and overseas expansion has
management clearly shows that Mindray is serious about
been steadily growing. Behind this consistent and substantial
every step we take to realizing our vision.
growth is our focus on Mindray’s core mission : to produce the
finest medical devices at affordable prices, and make them
Sustainable growth has always been a major focus for the
available to the greatest number of people in China and
company, and the foundation we have laid over the
worldwide.
Mindray Headquarters , High-Tech Industrial Park, Shenzhen, China
1
2
Global Expansion
Stockholm
Moscow
Amsterdam
London
Frankfurt
Toronto
Paris
Seattle
Beijing
Milan
Madrid
Istanbul
29 Branch Offices
New Jersey
Nanjing
Subsidiary company established
To be established
Cairo
Mexico City
R&D Center
New Delhi
HQ in Shenzhen
Mumbai
Jakarta
Santa Fe de Bogota
R&D Center, Mahwah, NJ, USA
Sao Paulo
Global Strategy Broadens Our Vision
In 1992, we expanded the playing field by launching the first
attained a leading market share in China in terms of number
of Mindray’s products has driven healthy sales growth across
Pulse Oximeter in the Chinese patient monitoring market.
of units sold and total revenues for patient monitoring
three major product lines. In 2009 international sales
Accelerated Expansion of International Sales Channel
Then we developed two other product lines that were firsts in
devices. In addition to patient monitoring devices, Mindray
contributed 53.9% of the total revenue.
In May 2008, a little over a year after the IPO, Mindray took
the domestic market: In-Vitro Diagnostic Products and
also holds a leading position in China for sales in diagnostic
M edical I maging Systems. I n 2000, we entered the
laboratory instruments and grey scale ultrasound imaging
Mindray's overseas operations have been designed to
patient monitoring business of the U.S.-headquartered
international market and found that high functionality, top
systems sales.
facilitate client interaction with our localized team of
Datascope Corporation, becoming the third-largest player in
specialists. This has created a strong bond and forstered
the global patient monitoring device industry.
quality and superior cost efficiency had proven to be as
another giant step in global expansion by acquiring the
popular in the global markets as they were at home. Exposure
Mindray has an extensive sales and distribution network
client loyalty. Additionally, Mindray has gained greater
to the international marketplace has broadened our vision,
across thirty major cities to guarantee rapid fulfillment and
insight into different cultures, which has increased the
Mindray’s integration with Datascope has been seamless and
spurred innovation and inspired management. Our dream to
maximum customer satisfaction. Along with effective
company ’s abilit y to cater to special requirements.
we remain on track with our expected synergies. We have and
become a world-class developer, manufacturer and marketer
customer-oriented R&D and a steady launch of new products,
Localization and frequent exposure in industry media and
will continue to leverage Datascope's well-established sales
of medical devices is now much closer and within our grasp.
Mindray’s reliable service is key to helping the company
participation in exhibitions such as MEDICA, AACC, ECR and
and service channels in the United States and Western Europe
sustain growth and expand its market leading position.
RSNA, have also enhanced brand awareness in the local
to enhance the distribution of Mindray's existing product
markets.
lines. Mindray also expects to further benefit from the
Market Leader in China
Mindray is the market leader in China and our products have
Rapid International Presence
been used in over 40,000 medical facilities, including
At the outset in 2000, Mindray focused on growth in the
Reliable quality and competitive pricing have helped
engineering and production platforms with Datascope's
renowned hospitals like Peking Union Medical College
European and North American markets, and has since
Mindray to win open bids for public health projects
established brands, long-standing reputation for high-quality
Hospital and Fudan University Zhongshan Hospital.
successfully penetrated over 190 countries and regions.
worldwide such as those sponsored by The World Bank and
products and service, and both companies' leading R&D
According to a Frost &Sullivan report, in 2007 Mindray
Worldwide recognition of the quality and cost-effectiveness
UNFPA.
capabilities.
3
synergies created by combining our strong China-based
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Customer Focus
Medical professionals employ
Mindray products in medical
clinics around the world.
Mindray employees receive and
analyze feedback based on real-life
product experiences from diverse
medical environments.
Customer Demand
Motivates Innovation
Customer demand is the source of our innovation, and
Overseas subsidiaries contribute greatly to strengthening
fulfilling customers' needs is at the heart of Mindray's
customer relationships and addressing concerns. Reference
corporate values. Our philosophy to create satisfied customers
hospitals in different countries also enable us to collect more
is reflected throughout all of our operations including R&D,
specific concerns and valuable feedback from end users.
manufacturing, sales and services.
Internally, a unique feedback loop records, sorts and analyzes
Enhanced product designs
come to life in state-of-the-art
manufacturing facilities.
customer feedback on real-life medically diverse product
Healthcare scenarios are becoming increasingly complicated,
experiences. Our R&D engineers incorporate pertinent
and every situation poses different challenges to care delivery
feedback into product design and upgrades, offering product
organizations and clinicians. In order to have in-depth
solutions for specific needs. This continuous running loop
knowledge of the problems, processes and requirements of
supports and sustains the scalable potential for our products
our customers and help them cope with ever-changing
and provides our customers with valuable products.
environments, we work closely with them and provide tailored
solutions.
Sales and service representatives demonstrate the
advantages of Mindray products specifically designed
to meet the needs of medical professionals.
Institut Hospitalier Jacques Cartier, Paris
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Medical Park Bahchelevler Hospital, Turkey
Global R&D teams incorporate feedback
and offer product solutions to address the
specific needs of end users.
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R&D
such as ISO9001/13485 and CMDC. Design, testing and
Shenzhen R&D Center, China
Seattle R&D Center, WA, USA
engineering processes are established to comply with FDA
regulations and CE standards to maintain top notch safety
and reliability for products used by customers all over the
world.
R&D Ensures Sustainable Growth
Diversified Product Portfolio
Mindray's R&D network realizes the synergies that exist
With a large and efficient R&D platform, we have been able to
between its world-class research talents and infrastructure.
launch 7-9 new products across the three major segments
each year since 2002 while continuously providing technical
solutions to drive down costs. We have already built a product
Committed Investment
portfolio of more than 70 products.
We invest approximately 10% of our net revenues back into
R&D each year. Mindray has three overseas R&D centers in
Beijing R&D Center, China
Stockholm R&D Center, Sweden
Seattle, Mahwah and Stockholm to focus on more advanced
medical device technologies and to form a global research
network in tandem with the three R&D centers in China.
As of December 2009, there are more than 1,400 engineers in
the network. We have established a full range of professional
labs like EMC, and Respiratory Gases and Reagents, which
contribute greatly to the company's intellectual property
position.
Nanjing R&D Center, China
Constant Innovation
Consistent innovation gives rise to products with superior
functionality and a higher per formance-to-price ratio.
Sufficient pre-research is done for every new product and
there have been key technological breakthroughs. As of
December 2009, we have obtained 960 technology patents
or patent applications.
Quality Orientation
Every single research project, large or small, is subjected to
strict worldwide quality criteria from the very beginning,
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Mahwah R&D Center, NJ, USA
8
Products
Hypervisor VI
Central Monitoring System
BeneView T6/T8
Patient Monitor
BeneHeart D6
Defibrillator/Monitor
iPM-9800
Patient Monitor
Patient Monitoring
and Life Support Products
OR Solution
VS-800
Vital Signs Monitor
PM-7000
Patient Monitor
Since the launch of the first Pulse Oximeter in 1992, Mindray
been widely acclaimed for its advanced ventilation modes and
has revolutionized patient monitors through its in-depth
its use on patients in all age groups. WATO's sophisticated
knowledge of international medical quality standards. As our
monitoring technologies allow this system to be integrated
technologies improve, our monitoring systems continue to
with Mindray's patient monitors and other medical devices,
provide value for hospitals, offering ease of use, unique
further improving safety and patient care quality.
compact designs, and access to leading technology.
Answering the clinical demand for integrated solutions, we
HyLite 6 Series
Surgical Lights
HyBase 6100
Operating Table
Patient Monitor
Multi-Parameter
WATO EX-65
Anesthesia Machine
BeneView, our high-end patient monitor series first launched
have recently launched a total solution for the OR and ICU. The
in 2006, offers a thorough modular design that is highly
solution includes new products like ceiling supply units,
flexible and can be adjusted to work with ICG, RM, BIS and
medical beam systems and surgical lights and tables,
other high-end parameters, enabling clinicians to adjust
alongside existing high- end monitors and anesthesia
medical care methodologies in a timely and effective manner.
machines.
Our WATO anesthesia machine, also first launched in 2006, has
Central Station
Defibrillator/Monitor
Vital Signs
Anesthesia Machine
Operating Table & Surgical Lights
2010 European Patient Monitoring
Excellence in Globalisation Award
2007 Patient Monitoring
Global Excellence Award
2006 Global Market Penetration
Leadership Award
OR Solution
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Products
BS-380
Auto Chemistry Analyzer
BC-5800
Auto Hematology Analyzer
BS-120
Auto Chemistry Analyzer
BS-800M
Chemistry Analysis System
BC-3000Plus
Auto Hematology Analyzer
In-Vitro Diagnostic Products
In 1998, we launched the first semi-automatic 3-part
Cytometr y, which is used to achieve precise 5-par t
differential hematology analyzer in China. In 2003, we
differentiation of leucocytes.
marketed the first automatic chemistry analyzer with full
Hematology Reagents
intellec tual proper t y rights in China. Af ter years of
Our chemistry analyzer product line offers state-of-the-art
development, this division offers products that meet the
sample loading, optical, incubation and washing systems with
requirements of hematology, chemistr y, immunology,
user-friendly software to ensure accuracy and precision of
reagent and related quality assurance systems.
laboratory tests with the capability to process 100 to 400 tests
per hour.
MR-12A
Microplate Washer
Chemistry Reagents
Chemistry Analyzers
The hematology analyzer product line is comprised of 3-part
and 5-par t differential analyzer systems. Our 3-par t
Over 55,000 of Mindray’s hematology products have been
hematology analyzer models are available in semi-automatic
installed in 150 countries. The company’s In-Vitro Diagnostic
or automatic forms, and can process 30 to 60 tests per hour.
segment aims to offer quality products at a competitive price
Our 5-par t hematology analyzer is also available in
to its customers around the world. Mindray is well positioned
semiautomatic or automatic forms, and applies laser scatter
to introduce additional innovative products and solutions for
technology combined with a chemical dye method and flow
clinical laboratories in the near future.
5-part Diff Hematology Analyzers
3-part Diff Hematology Analyzers
Elisa System
Reagents
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Products
DC-6 Expert
Diagnostic Ultrasound System
M5 Hand-carried
Diagnostic Ultrasound System
DC-3
Diagnostic Ultrasound System
DigiEye 560
Digital Radiography System
M7 Hand-carried
Diagnostic Ultrasound System
DC-7
Diagnostic Ultrasound System
Medical Imaging Systems
Mindray has specialized in the development and
the systems are designed with excellent ergonomics and
manufacturing of high quality ultrasound systems for over 13
intuitive workflow, making our devices user-friendly.
years and the company was the first to launch a high-end
DP-6900
Digital Ultrasonic Diagnostic
Imaging System
DP-9900
Digital Ultrasonic Diagnostic
Imaging System
digital B&W ultrasound device in China in 2001. Subsequently,
Mindray has gained popularity in the diagnostic ultrasound
a series of outstanding ultrasound products have been
market with its expertise in revolutionary new imaging
developed, providing versatile diagnostic solutions for
technologies, extraordinary ergonomic design and strict
different application fields.
quality control. Since 2008 we have introduced digital
radiography systems: the DigiEye 560 with U-arm assembly
Our broad range of ultrasound products include: cart-based
and the DigiEye 760 with Ceiling Suspension, which
and hand–carried Color Doppler systems, and cart-based and
established a new area for Mindray's medical imaging system.
portable B&W systems. As an innovator in ultrasound imaging
The compact solution to DR technology from Mindray fits
systems, Mindray delivers imaging technologies that bring a
every clinical space and helps increase the intelligent
new level of image quality and functionality to ensure
operation.
diagnostic confidence.
Digital Radiography System
Cart-based Color Doppler System
Hand-carried Color Doppler System
Portable Black & White System
Cart-based Black & White System
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Our ultrasound systems serve a wide range of applications,
like abdominal, gynecology, obstetrics, cardiology, small
parts, urology, orthopedics, vascular and more. The variety of
measurement and calculation software packages enable
clinicians to obtain more useful diagnostic information and
2010 Reddot Design Award
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Manufacturing & Quality
Scalable Manufacturing Assures Cost-efficiency
At Mindray, R&D, manufacturing, marketing and customer
We have adopted a flexible manufacturing system (FMS)
ser vice are considered to be equally impor tant. Our
which fully reflects the uniqueness of the medical device
leadership position in the marketplace does not come from
industry. This flexibility allows Mindray to react accordingly in
an intense focus on a single division, but from the synergistic
response to unique customer demands from different regions
excellence of all.
while securing production capacity. The highly scalable
system embodies obvious technical and cost advantages
We improve cost- efficienc y through several methods
when a new product enters the production phase.
Patient Monitor Product Line
Anesthesia Machine Product Line
Hematology Analyzer Product Line
Chemistry Analyzer Product Line
Ultrasound Product Line
Digital Control Machine Tools Workshop
including increasing the percentage of components on a
cost-basis and manufac tured in-house, standardizing
Company-wide quality awareness contributes greatly to our
components across product lines to gain economies of scale
corporate personality. We are committed to quality in all
and through active management of our supply chain
aspects of our business and believe that TUV ISO 9001 is a
relationships.
prime example of that dedication.
In order to meet rising customer demand, a new 75,000
At Mindray, every detail matters. From development to
square meter manufacturing center for patient monitors,
packaging, every single detail is recorded and standardized
hematology analyzers, medical consumables and key
for the sake of high efficiency and uncompromising quality.
accessories has been added to the 21,000 square meter
Quality consistency and manufacturing efficiency are secured
manufacturing facility for hematology, chemistry reagent and
by systems and methodologies like ERP, TQM and 5S. Stringent
radioactive immures.
quality control provides the flexibility needed to meet
customized orders in a precise and timely manner.
Achievements of Quality Pursuit
1995
TUV Ps ISO 9001, the first one in China's medical device industry
2000
Quality system certification of CMDC
2000
CE Mark for patient monitoring products
2003
CE Mark for ultrasound imaging systems
2003
CE Mark for clinical laboratory instruments
2004
FDA 510(k) clearance for patient monitoring products
2005
FDA 510(k) clearance for ultrasound imaging system
2006
Certified by UL for the Safety Test Lab, the first one in China's medical device industry
2007
FDA 510(k) clearance for hematology analyzer
2007
Reliability Test Lab certified by CNAS, the first one in China's medical device industry
2008
FDA 510(k) clearance for chemistry analyzer
2009
Certified by ETL for the Safety Test Lab
2009
Standardization Lab certified by CNAS, the first one in China’s medical device industry
75,000m 2 Manufacture Center
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Our Services
needs, our customer service department has developed
various training programs for distributors and hospitals to
improve flexibility and adaptability.
Our quick response impresses customers and our engineers
are highly knowledgeable and guarantee a quick response.
Our customers know that there is a sufficient spare parts
inventory, efficient response personnel and advanced CRM
systems working together to keep every case on track.
As a major component of customer care, our engineers pay
regular visits to customers, get comments on products and
show them our latest developments. We analyze and develop
proven equipment solutions to achieve greater efficiency in
daily hospital operations. By identifying potential areas for
improvement through effective customer feedback and
customized operational solutions we can truly give our
customers the service they deserve, no matter where they are
or where they go in the future.
Service Increases Product Value
Our motto is to “be speedy, professional and efficient” and is
best embodied in our after-sales service to our customers
worldwide. At Mindray, we keep in mind that customers
demand more than just quality products. Customers need a
reliable partner with enough resources to offer differentiated,
high-valued services.
With 29 branch offices in China and over ten overseas
subsidiaries, Mindray's global service network is growing
rapidly and maintains smooth communication between
clients and our engineers. Facing a wide range of different
Listen to the end user
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Flexible on-site training
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Corporate Citizenship
town hospitals in Jilin, a province of Northeastern China. In
May 2009, Mindray donated medical devices to twenty-six
town hospitals in Anhui province. In December 2009, Mindray
donated medical devices worth 1000,000 CNY to the Familyplanning Agency in Haojiang District of Shantou, supporting
women’ s health in the rural area . The four donations were
worth a total of 22,590,000 CNY (3,307,000 USD). Mindray also
supports the medical establishments outside of China, in
October 2009, Mindray donated medical devices to Ethiopia.
Suppor t for Disaster Relief Effor ts The devastating
earthquake that shook Sichuan in Southwestern China on May
12, 2008 left thousands dead and more injured.
Upon hearing of the tragedy, the management team at
Mindray quickly offered assistance for the relief effort. Mr. Xu
Hang and Mr. Li Xiting, co-chief executives, led companywide
donations with 3,200,000 CNY (468,904 USD) worth of highq u a l i t y, p o r t a b l e m u l t i - p a r a m e t e r p a t i e n t m o n i t o r s.
Employees raised a cash donation of over 1,000,000 CNY
(146,535 USD). Mindray’s humanitarian support ranges from
Social Responsibility
the turmoil of the SARS outbreak in 2003 to the tsunami
Mindray integrates prosperity, sustainability and alignment
that struck the Indian Ocean in 2004. Mindray is firmly
with the environmental and social standards of the
committed to helping people in stricken communities.
international community. Social consciousness is a large part
of our corporate culture.
Supporting Education in Underdeveloped Regions The
goal of the non-governmental Hope Project is to finance the
Support for Medical Establishment Medical facilities in
education of students from poor families. It includes
rural underdeveloped areas of China have lagged behind the
programs to establish Hope primary schools in
rapid modernization brought on by the economic boom. In
underdeveloped rural areas, establish Hope scholarships in
response, the central government is giving top priority to
high schools and universities, implement distance education
improving the quality of care in these areas.
and train teachers for rural schools. Mindray has been part of
More help to disaster relief
the national effort for years and a number of schools have
As a leading medical device company in China, Mindray
been built with company donations.
actively supports the nationwide effort to improve rural
healthcare conditions by designing customized and
As an integral part of the community, Mindray has always
affordable equipment.
insisted on giving back. Our passion is to make the world a
better place, not only with humanitarian efforts, but also by
In July 2007, Mindray donated medical equipment to Gansu
province, in the far flung reaches of Northwestern China and
using our expertise to improve the health and well-being of
people everywhere in the world.
More smiles from rural dwellers
in August, Mindray donated medical devices to twenty-eight
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Milestones
1991
Founded in Shenzhen, China
1993
Developed China's first multi-parameter patient monitor
1995
ISO 9001 certified by TUV
1998
Developed China's first 3-part differential hematology analyzer
2000
Received first CE Mark clearance, began exporting products overseas
2001
Developed China's first digital diagnostic ultrasound imaging system
2003
Developed China's first automatic chemistry analyzer
2004
Received first FDA 510(k) clearance; first product exported to US Market
2006
Developed China's first 5-part differential hematology analyzer
2006
Developed China's first digital color Doppler ultrasound imaging system
2006
Listed on New York Stock Exchange under the ticker symbol “MR”
2007
Received the 2006 Global Market Penetration Leadership and the 2007 Patient Monitoring Global
Excellence Awards from the global growth consulting company Frost & Sullivan
2008
Acquired Datascope's patient monitoring business, becoming the third-largest player
in the global patient monitoring device industry
2010
Received the 2010 European Patient Monitoring Excellence in Globalization Award from Frost & Sullivan
New headquarter building
to be completed in 2010
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