Mindray Medical to acquire ZONARE for $105M Mindray Medical announced a definitive agreement to acquire ZONARE Medical Systems, an ultrasound technology company in the high-end radiology segment for $105M. Total 2012 revenues for ZONARE were approximately $64M. Mindray expects the deal to be slightly dilutive to its FY13 and FY14 earnings. The transaction is expected to close in Q3, and will be funded with Mindray's existing cash and planned borrowings from third parties.
Mindray Medical appoints Cheng Minghe to co-CEO Cheng is currently the company's Chief Strategic Officer and will maintain this role. The company's CEO Li Xiting will now be President and co-CEO. The company also appointed Wang Jianxin to Chief Administrative Officer and May Li to be Chief Investment Officer. Wang was previously VP of Mindray and Li was previously the Deputy CFO. All appointments will take effect immediately.