Mindray to Acquire ZONARE Medical Systems

                  Mindray to Acquire ZONARE Medical Systems

PR Newswire

SHENZHEN, China, June 12, 2013

SHENZHEN, China, June 12, 2013 /PRNewswire/ -- Mindray Medical International
Limited (NYSE: MR), today announced a definitive agreement to acquire ZONARE
Medical Systems, Inc. (ZONARE), 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, California, U.S. 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^TM 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 Mr. 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 Mr. 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 Mr. 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.

Conference Call Details

Mindray will hold an investor conference call and Q&A session at 8:00 AM on
June 13, 2013 U.S. Eastern Time (8:00 PM on June 13, 2013 Beijing/Hong Kong
Time).

Dial-in details for the conference call are as follows:

International Toll Free:
United States: +1-866-519-4004
Hong Kong: 800-930-346
China Landline: 800-819-0121

Local dial-in numbers:

United States: +1-718-354-1231
Hong Kong: +852-2475-0994
China Mobile: 400-620-8038
Passcode for all regions: Mindray

Additionally, a live and archived webcast of this conference call will be
available on the Investor Relations section of Mindray's website at
http://www.mindray.com .

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Statements that are not historical facts are forward-looking statements.
Forward looking statements in this press release include statements regarding
Mindray's goal of becoming a leading global provider of imaging products; the
projected financial impact of the transaction on Mindray's 2013 and 2014
financial results; the anticipated combined company, customer and other
benefits/synergies of the proposed transaction; the anticipated transaction
and timing. Readers are cautioned that these forward-looking statements are
only predictions and may differ materially from actual results. For example,
the transaction may not close when expected or at all, the transaction maybe
more or less dilutive to Mindray's financial results than anticipated and the
other anticipated transaction benefits may not be realized. The success of the
transaction, the combined company's business and the ability to recognize the
anticipated transaction benefits are subject to a variety of factors,
including, without limitation, successful integration of Mindray's and
ZONARE's R&D, manufacturing and sales activities and customer and employee
bases; the growth and expected global growth of the medical device market;
relevant government policies and regulations relating to the medical device
industry; market acceptance of the combined company's products; expectations
regarding demand for our combined products; our ability to expand our
production, our sales and distribution network and other aspects of our
operations; our ability to stay abreast of market trends and technological
advances; our ability to effectively protect our intellectual property rights
and not infringe on the intellectual property rights of others; our ability to
settle disputes with our customers and suppliers; competition in the medical
device industry in China and internationally; and general economic and
business conditions in the countries in which we operate. For a discussion of
other important factors that could adversely affect the transaction and
related integration, the combined business and our financial condition,
results of operations and prospects, see "Risk Factors" beginning on page 5 of
Mindray's annual report on Form 20-F, which was filed with the Securities and
Exchange Commission on April 8, 2013. Any projections in this release are
based on limited information currently available to us, which is subject to
change. Although such projections and the factors influencing them will likely
change, we will not necessarily update the information. Such information
speaks only as of the date of this release.

About Mindray

Mindray is a leading developer, manufacturer and marketer of medical devices
worldwide. Mindray maintains its global headquarters in Shenzhen, China, U.S.
headquarters in Mahwah, New Jersey and multiple sales offices in major
international markets. From its main manufacturing and engineering base in
China, Mindray supplies through its worldwide distribution network a broad
range of products across three primary business segments, namely patient
monitoring and life support, in-vitro diagnostic, and medical imaging systems.
For more information, please visit http://ir.mindray.com .

About ZONARE

Established in 1999, ZONARE, located in Mountain View, California, is a
developer, manufacturer and marketer of ultrasound products. The company sells
its products in 70 countries around the world. ZONARE has been dedicated to
improving patient care and reducing healthcare costs through its innovative
foundation of living technology. For more information, please visit
http://www.zonare.com/.

For investor and media inquiries, please contact:

In the U.S:
Hoki Luk
WesternBridge, LLC
Tel: +1-646-808-9150
Email: hoki.luk@westernbridgegroup.com 

In China:
Cathy Gao
Mindray Medical International Limited
Tel: +86-755-8188-8023
Email: cathy.gao@mindray.com

SOURCE Mindray Medical International Limited

Website: http://ir.mindray.com
Website: http://www.mindray.com
Website: http://www.zonare.com/
 
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