Mindray Medical To Establish New R&D And Manufacturing Base In Nanjing

Shenzen, China — Mindray Medical International Limited announced it has signed a memorandum of understanding, or MOU, with the Government of the Nanjing Jiangning Development Zone. The non-binding MOU provides for staged investments to establish a new R&D and manufacturing facility in the Nanjing Jiangning Development Zone. Mindray's total investment commitment over three and one-half years is expected to be up to US$150 million with a targeted first year investment of no more than US$30 million.

The planned R&D and manufacturing facility, expected to be operational by 2009, is intended to expand Mindray's presence in the Yangtze Delta region surrounding Shanghai in Eastern China and to strengthen Mindray's ability to attract and retain R&D talent in the region. Research and development activities at the facility will focus on developing products complementary to Mindray's existing product portfolio. The facility will represent Mindray's second manufacturing facility. Currently, Mindray manufactures its products exclusively in Southern China in Shenzhen.

Expansion of our research and development capabilities and manufacturing capacity is a critical part of Mindray's strategic plan. "Our agreement with the government of the Nanjing Jiangning Development Zone demonstrates our commitment to our strategic plan." commented Xu Hang, Chairman and Co-CEO of Mindray. In November 2006, Mindray established an R&D facility in Seattle, Washington to concentrate on advanced technology research related to its color ultrasound product segment. Mindray currently has more than 600 engineers on its staff and has launched more than 30 new products in the last three years.

SOURCE: Mindray Medical International Limited