Feature | June 13, 2013

Mindray to Acquire Zonare Medical Systems

June 12, 2013 – Mindray Medical International Limited announced a definitive agreement to acquire Zonare Medical Systems, Inc., an ultrasound technology leader in the high-end radiology segment for US$105 million. Mindray’s management expects the deal to strengthen its high-end ultrasound R&D and U.S. sales capabilities, furthering the company’s goal of becoming a leading provider of high-quality imaging products to markets worldwide.

Total 2012 revenues for Zonare were approximately US$64 million. Mindray expects the deal to be slightly dilutive to its full-year 2013 and 2014 earnings.

Founded in 1999, Zonare is based in Mountain View, Calif. Over the past decade, Zonare has become one of the leading ultrasound brands in high-end radiology segment globally. Its world-class R&D team, comprising several leading ultrasound experts, developed the company’s revolutionary ZONE-Sonography technology to deliver superior image quality. Moreover, Zonare has a direct sales team mainly covering developed markets including the US, Canada, Scandinavia and Germany.

“We are very excited about this transaction. We evaluated many different acquisition targets and determined that ZONARE’s proven business model, along with its technology and sales channel assets, fits very well with our selection criteria,” said Minghe Cheng, Mindray’s co-chief executive officer. “This transaction will create significant synergies by combining Zonare’s strong innovative R&D capability and direct sales and service network in the high-end ultrasound market with Mindray’s efficient engineering and production platforms. We expect customers to benefit from the combined company’s expanded portfolio and improved ability to develop more innovative and customized products.”

Mindray plans to maintain Zonare’s brand and existing operations under its current management team led by Timothy A. Marcotte, Zonare’s president and chief executive officer. “The deal will create a global ultrasound company that is better positioned to serve the healthcare market on a worldwide basis,” commented  Marcotte. “We expect our customers to continue to benefit from the high level of innovation, quality and services provided by the Zonare brand. Moreover, as a member of the growing Mindray organization, we look forward to developing even more exciting products and technologies in the future by leveraging our combined strengths.”

The transaction is expected to close in the third quarter of 2013 and is subject to regulatory and other customary closing conditions. The final acquisition price is subject to working capital and other adjustments, and will be funded with Mindray’s existing cash and planned borrowings from third parties.

For more information: ir.mindray.com

 

 

 

Related Content

Nuance Launches Cloud-Based mPower Clinical Analytics Platform at AHRA 2018
Technology | Analytics Software | August 16, 2018
At the Association for Medical Imaging Management (AHRA) 2018 Annual Meeting and Exposition, July 22-25 in Orlando, Fla...
Intel and Philips Demonstrate CPU Ability in Deep Learning Inference Test Cases
News | Artificial Intelligence | August 15, 2018
Intel and Philips recently tested two healthcare uses for deep learning inference models using Intel Xeon Scalable...
Fujifilm SonoSite Unveils Full Suite of iViz Point-of-Care Transducers

The L25v ultrasound transducer for the Fujifilm Sonosite iViz is available for superficial applications such as ophthalmic, arterial, venous, lung and nerve. Image courtesy of Fujifilm Sonosite.

Technology | Ultrasound Imaging | August 15, 2018
Fujifilm SonoSite Inc. announced the launch of two new transducers for the SonoSite iViz point-of-care ultrasound, now...
Guerbet Partners With Imalogix on Dose Optimization With Artificial Intelligence
News | Radiation Dose Management | August 14, 2018
August 14, 2018 — Guerbet LLC USA announced a commercial partnership with Imalogix, a provider of...
Exact Imaging Becomes UroGPO Imaging Partner
News | Ultrasound Imaging | August 10, 2018
Exact Imaging announced that it has become a UroGPO Imaging Partner, joining the North American urology-specific group...
Visage Signs Mercy for Visage 7 Open Archive
News | Enterprise Imaging | August 09, 2018
Visage Imaging Inc. announced that it has signed a seven-year contract with Mercy, the fifth largest Catholic health...
Videos | Radiomics | August 09, 2018
A discussion with Martin Vallieres, Ph.D., post-doctoral fellow at McGill University, Montreal, Canada.
Aidoc Receives FDA Clearance for AI Detection of Acute Intracranial Hemorrhage
Technology | Clinical Decision Support | August 08, 2018
Aidoc announced that it was granted U.S. Food and Drug Administration (FDA) clearance for the first product of its...
Cardiac Imaging Reveals Roots of Preeclampsia Damage in Pregnant Women
News | Women's Health | August 07, 2018
Johns Hopkins researchers say a heart imaging study of scores of pregnant women with the most severe and dangerous form...
Metro Health-University of Michigan Health Partners With Eon to Improve Lung Cancer Care
News | Oncology Diagnostics | August 07, 2018
Metro Health-University of Michigan Health announced it is partnering with healthcare data company Eon to improve the...
Overlay Init