Chinese medical devices major
Mindray Medical International Limited
) recently revealed that it will showcase over 90 offerings at the
68th China International Medical Equipment Fair (CMEF) to be held
in Sichuan, China during the period from October 18 to October 21,
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The company will exhibit medical devices from each of its three
segments, which includes medical imaging systems, in-vitro
diagnostic and patient monitoring and life support. In addition,
Mindray will display certain endoscopic and orthopedic offerings of
companies that it has recently acquired.
Fresh offerings which will be displayed at the CMEF include the
EH-2080 fully automatic urine sediment analyzer, the DigiEye380
digital radiography system and the BC-5390 auto hematology
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) approval.
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. In 2011, the company launched 13 new products.
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 GE
Healthcare, a part of
). We currently have a Neutral recommendation on Mindray. The stock
currently retains a Zacks #3 Rank, which translates into a
short-term "Hold" rating.