Publicly traded Mindray Medical International, based in Shenzhen, China, announced it has reached an agreement to buy patient-monitoring company Datascope Corp., Montvale, N.J., for $202 million in cash, the company announced.
Mindray makes patient-monitoring devices, laboratory diagnostic instruments, anesthesia and ultrasound machines. According to a written statement, Mindray will continue manufacturing Datascope products in the U.S., but sees the deal as an entree into the U.S. market.
In a news release, Xu Hang, the companys chairman and co-chief executive officer said the transaction represents a unique combination of strengths that will help transform Mindray from a largely China-based company into a global leader, and substantially further our strategy of building a leading on-the-ground presence in the United States and Europe.
Subject to regulatory approvals, the deal is expected to close in the second quarter of this year.