Mindray Medical International Limited
(
MR
), a leading Chinese medical device manufacturer, recently revealed
a partnership with Epiphany Cardiography Products of Midlothian,
Virginia. Per their collaboration, which is based in North America,
Mindray's 12-lead cardiac monitoring information will be
intertwined with Epiphany's user-friendly and web browser-based
Cardio Server application. This application can accept, manage and
transmit test results from more than 100 devices to Electronic
Health Records ("EHR").
Epiphany, founded in 2004, manages with ease the gathering and
handling of diagnostic test results. Its products are used by 330
hospitals globally.
The 12-lead cardiac monitoring data from Mindray encompasses
continuous 12-lead arrhythmia analysis. It permits users to develop
an image of the victim's heart before they demonstrate ailments or
as they recuperate. The Cardio Server allows users to obtain,
manage and print out high-class 12-lead ECGs from any location
where they possess a web browser. ECGs are also available from
devices such as iPhone, iPad and Android.
According to Mindray, the open architecture of the Cardio Server
from Epiphany gives its clients the head start they desire in
access to information and integration of devices. Thus,
interoperability is viewed as a critical element of success. The
purpose of the partnership is to derive synergy from the
enterprise-sized offerings of Cardio Server with modern monitoring
know-how from Mindray.
Mindray is a bellwether in the Chinese MedTech industry with a
solid international presence. A key distinction with domestic
competitors is that the majority of Mindray's products have CE Mark
and/or Food and Drug Administration ("FDA") clearance.
Mindray maintains a decent product pipeline and brings out
several new products each year. New products contribute in a major
way to Mindray's revenues.
The company has entered the premium segment globally, where its
competitive advantage is still unclear. Also, on the negative side,
health care reform in China and the U.S., may reduce demand for
Mindray's products. Competition is fierce and leads to price
erosion over time.
Mindray's competitors, in different niche segments, include
General Electric
(
GE
),
Philips
(
PHG
) and
Siemens
(
SI
). Our Neutral recommendation is supported by a short-term Zacks #3
Rank (Hold).
GENL ELECTRIC (
GE
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SI
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