• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
    • Cardiovascular
    • Orthopedics
  • Wall Street Beat
    • Funding Roundup
    • Mergers & Acquisitions
  • Podcasts
    • MPR: Breakthrough Products Series
  • Resources
    • About MassDevice
    • Newsletter Signup
    • Job Board
    • Leadership in Medtech
    • Manufacturer Search
    • MedTech 100 Index
    • Videos
    • Whitepapers
  • DeviceTalks Tuesdays
    • DeviceTalks
  • Coronavirus: Live updates
Home » Mindray Medical to drop $105M on Zonare

Mindray Medical to drop $105M on Zonare

June 14, 2013 By Brad Perriello

Mindray Medical to drop $105M on Zonare

Mindray (NYSE:MR) said it’s agreed to a $105 million buyout of Zonare Medical Systems and its ultrasound technology.

The Chinese medical device company said it plans to maintain Mountain View, Calif.-based Zonare’s brand and operations under president & CEO Timothy Marcotte, according to a press release.

"Mindray’s management expects the deal to strengthen its high-end ultrasound R&D and U.S. sales capabilities, furthering the company’s goal of becoming a leading provider of high-quality imaging products to markets worldwide," according to the release. "Mindray expects the deal to be slightly dilutive to its full-year 2013 and 2014 earnings."

Zonare posted sales of about $64 million last year, according to Mindray.

"We are very excited about this transaction. We evaluated many different acquisition targets and determined that Zonare’s proven business model, along with its technology and sales channel assets, fits very well with our selection criteria," Mindray co-CEO Minghe Cheng said in prepared remarks. "This transaction will create significant synergies by combining Zonare’s strong innovative R&D capability and direct sales and service network in the high-end ultrasound market with Mindray’s efficient engineering and production platforms. We expect customers to benefit from the combined company’s expanded portfolio and improved ability to develop more innovative and customized products."

"The deal will create a global ultrasound company that is better positioned to serve the healthcare market on a worldwide basis," Marcotte added. "We expect our customers to continue to benefit from the high level of innovation, quality and services provided by the Zonare brand. Moreover, as a member of the growing Mindray organization, we look forward to developing even more exciting products and technologies in the future by leveraging our combined strengths."

The deal is expected to during the 3rd quarter, Mindray said.

Filed Under: Mergers & Acquisitions, News Well, Ultrasound, Wall Street Beat Tagged With: Mindray Medical International Ltd., Zonare Medical Systems Inc.

In case you missed it

  • Leading Medical UX Trends
  • Ex-Acclarent execs fined $1.5M in off-label marketing case
  • CDER head Woodcock to lead FDA for now
  • Prosecutors want to present evidence of Elizabeth Holmes’ quest for wealth and fame
  • TransEnterix raises more than $31M in stock offering
  • Boston Scientific launches WaveWriter Alpha spinal cord stim
  • What’s next for the FDA and for Stephen Hahn?
  • Apple magnetic charger, smartwatch may deactivate Medtronic ICD
  • Medicare to cover breakthrough devices
  • FDA debuts plan for AI-based Software as a Medical Device
  • EU allows remote audits for medical devices during pandemic
  • Smith+Nephew sees Movemedical automating inventory for its sales people
  • BD stock up on Street-beating preliminary quarterly revenue numbers
  • Boston Scientific’s preliminary Q4 results show 6.8% revenue decline
  • BREAKING: Steris to acquire Cantel Medical in $4.6B deal
  • FDA grants EUA for RapCov rapid COVID-19 antibody test
  • Former Corindus CEO Toland joins robotic `micro’ surgical startup

RSS From Medical Design & Outsourcing

  • Reflow Medical launches low-profile reinforced support catheters
    Reflow Medical today announced it has launched its Reflow Spex Low Profile reinforced support catheters. The Spex LP catheters are designed to provide the lowest profile tip to access and cross the tightest and most complex lesions with a supportive system. They come in 0.014 in. and 0.018 in. sizes and can be combined with… […]
  • CDER head Woodcock to lead FDA for now
    FDA veteran Dr. Janet Woodcock has been tapped as interim FDA commissioner by the Biden administration, according to published reports. An article by BioCentury also said that former FDA commissioner David Kessler, who had been mentioned as a possible replacement for current commissioner Stephen Hahn, will be a consultant to the agency but will not… […]
  • What’s next for the FDA and for Stephen Hahn?
    Outgoing FDA commissioner Stephen Hahn says he needs some time to reflect on his future after leading the FDA for a little over a year. It’s hard to blame him. Hahn’s brief tenure at FDA has been rocky, to say the least. (News of his temporary replacement broke on Thursday, when the incoming Biden administration… […]
  • Medicare to cover breakthrough devices
    FDA-designated breakthrough devices will have Medicare coverage the same day they are approved, under a final rule issued this week by the Centers for Medicare and Medicaid Services (CMS). The Medicare Coverage of Innovative Technology (MCIT) rule will provide national Medicare coverage as early as the same day as FDA market authorization for breakthrough devices… […]
  • FDA debuts plan for AI-based Software as a Medical Device
    The FDA today released its first plan to regulate artificial intelligence/machine learning (AI/ML)-based Software as a Medical Device (SaMD). The plan is a response to feedback received from the agency’s April 2019 discussion paper, “Proposed Regulatory Framework for Modifications to Artificial Intelligence/Machine Learning-Based Software as a Medical Device.” It outlines five actions that the FDA… […]
  • EU allows remote audits for medical devices during pandemic
    The European Union has announced that it will temporarily allow remote audits of medical devices and in vitro diagnostics under the new regulations (MDR IVDR), set to go into effect on May 2021 and 2022 respectively. In a document published Monday, the European Commission agreed with industry and notified bodies that the ongoing COVID-19 pandemic… […]
  • Apple magnetic charger, smartwatch may deactivate Medtronic ICD
    A new study in the Heart Rhythm Journal showed a magnetic charger for the iPhone 12 was able to deactivate a Medtronic implantable cardioverter defibrillator (ICD). The iPhone 12 has a circular array of magnets deployed around a central charging coil, making it compatible with the company’s wireless “MagSafe” accessories, according to the study published… […]
  • BREAKING: Steris to acquire Cantel Medical in $4.6B deal
    Steris (NYSE:STE) announced today that it will acquire Cantel Medical (NYSE:CMD) for $4.6 billion — a major merger in the infection prevention space. The deal is expected to close by June 30, pending customary closing conditions, regulatory approvals and an OK by Cantel shareholders. News of the merger comes a month and a half after Steris closed… […]
  • How Abbott stayed two steps ahead of COVID-19
    Developing a fast COVID-19 that resembled a pregnancy test and building two factories to boost productions — those were but two of the quick-thinking actions that Abbott (NYSE:ABT) officials took in the early months of a deadly coronavirus pandemic. Abbott began tracking the virus in China at the end of 2019 and into early 2020. By February,… […]
  • BREAKING: Big medtech suspends political contributions in wake of Electoral College vote
    Just as they lined up to condemn last week’s attack on the U.S. Capitol, major medtech companies are suspending political contributions because of 147 federal lawmakers’ refusal to acknowledge the Electoral College win by President-elect Joe Biden and Vice President-elect Kamala Harris. Boston Scientific announced on Sunday that it has chosen to temporarily suspend its… […]
  • Neurofeedback could help prostheses feel lighter: Here’s how
    Researchers at ETH Zurich have developed a prosthesis system that connects to the body’s nervous system to help amputees perceive a prosthetic weight as lower. The prosthesis system provides feedback to the wearer using electrodes implanted in the thigh that are connected to the leg nerves. Information from the tactile sensors under the sole of… […]

Leave a Reply Cancel reply

You must be logged in to post a comment.

Primary Sidebar

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
Need Medtech news in a minute?
We Deliver!

MassDevice Enewsletters get you caught up on all the mission critical news you need in med tech. Sign up today.

Tweets by @MassDevice
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion

MASSDEVICE

Subscribe to MassDevice
Advertise with us
About
Contact us

Add us on Facebook Follow us on Twitter Connect with us on LinkedIn Follow us on YouTube

Copyright © 2021 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Advertise | Privacy Policy | RSS