Mindray currently manufactures and deals in patient monitoring and life support, in-vitro diagnostic and medical imaging systems worldwide, but with the acquisition of Dragonbio’s orthopedics business, the company will be able to spread its presence in China as well as explore the orthopedics industry.
"The orthopedic consumable market has high barriers to entry, but this deal will give us instant access to this promising and sizable market," Mindray chief strategic officer Minghe Cheng said in prepared remarks. "We expect to unlock the value of the acquired business through our strong capital position, large-scale operational experience and worldwide presence."
Founded in 2005, Dragonbio’s orthopedics division sells products exclusively in China. Its 2011 revenues totalled nearly $7.7 million.