We are pleased to announce that Mindray has recently reached an equity transfer agreement to acquire a controlling stake in Wuhan Dragonbio Orthopedic Products Co., Ltd. (“Dragonbio”).
In accordance with the equity transfer agreement, Mindray will acquire a complete business chain from R&D and manufacturing to sales of orthopedics products, including trauma, spine, joint and biomaterial products. Mindray will also gain instant access to the large and rapidly growing China orthopedic market.
Dragonbio will be operated independently under its former management team following the acquisition. Mindray has no plans to change Dragonbio’s employee base. Mindray will also honor all of Dragonbio’s contracts as agreed upon prior to the acquisition and maintain Dragonbio’s current policies on sale and after-sale services.
Mindray has more than 20 years of experience in researching, developing and manufacturing medical devices as well as a large marketing and service network around the world. We will share our resources and experience with Dragonbio to enhance its market presence. We strongly believe cooperation between the two companies will result in better products and services for our customers as well as broader development opportunities for our employees.
About Dragonbio: Dragonbio is a domestic medical orthopedics products provider located in the Hongshan District of Wuhan, Hubei, China. The company specializes in developing, manufacturing and selling trauma, spine, joint and other surgical products. For more information, please visit www.dragonbio.com.
Shenzhen Mindray Bio-medical Electronics Co., Ltd.
June 7, 2012
