Tag: Mindray

I found this one from China Business Feature. Some of the interesting paragraphs:

How they started the R&D of medical devices?
“But unlike other distributors, Xu Hang, who holds a degree in medical engineering, started independent innovation of some products in 1992. Mindray’s first products included China’s first single-parameter blood oxygen saturation monitor. “At the time, as China’s hospitals had never used Chinese-made devices, they preferred the imported multi-parameter monitors. So our products did not sell well,” says Xu. Customers didn’t try Mindray’s equipment until 1995 because of problems in technology, quality and sales service. In the early stages of its development, Mindary was basically an opportunist. It hadn’t gone deep in researching the industry. It would generally sell anything that appealed to the market. It even sold products that had nothing to do with medicine.”

Market acceptance:
“Despite its success, Mindray still faces “discrimination” on international markets. In the Middle East, for example, American products are always chosen in the first place, and then those from Japan and Korea. Chinese products are given a very low priority. But the situation has been slowly changing since Mindray was listed. “Agents that we couldn’t contract with before are now coming to us,” claims Xu. The listing made Mindray more popular and trustworthy in overseas markets. Xu hopes to build on that trust with an international brand image for Mindray – that’s why he chose the NYSE instead of the NASDAQ.”