We are pleased to announce that Mindray has recently signed a Share Transfer Agreement to acquire 100% ownership of Shanghai Medical Optical Instruments Factory Co., Ltd. (SMOIF), a wholly owned subsidiary of Shanghai Medical Instruments Co., Ltd.
Under the agreement, Mindray will have full access to SMOIF’s flexible endoscopes and related surgical devices as well as its R&D, manufacturing, sales and services capabilities. This acquisition will further supplement and extend Mindray’s product portfolio, helping us cater to the increasing demand for minimally invasive operations and spurring new growth for our company.
SMOIF will be operated by its existing management team after the acquisition. Mindray has no plans to change SMOIF’s employee base and will honor all of SMOIF’s contracts as agreed upon prior to the acquisition. We will also maintain SMOIF’s existing policies on sale and after-sale services.
Leveraging our strong sales, manufacturing, R&D and quality assurance platforms, we will work with SMOIF to further strengthen the company’s position in China’s promising flexible endoscopic and related surgical devices business.
We believe our collaboration with SMOIF will create many synergies for both parties. Together, we will provide better products and services to our customers, and broader development opportunities to our employees.
About SMOIF:
Founded in the 1930’s, Shanghai Medical Optical Instruments Factory Co., Ltd. (Medical Optical Instruments Factory of Shanghai Medical Instruments Co., Ltd.) is a manufacturer of medical endoscopes in China. With the most complete range of medical optical instruments in the marketplace, SMOIF develops and offers five series of products, namely electronic endoscopes, fiber endoscopes, rigid endoscopes, flexible endoscopes, and related surgical devices. For more information, please refer to www.smoif.com.
Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
Oct.15, 2012