Mindray to buy stake in urine analysis firm
Mindray Medical International Ltd. said Tuesday it will buy a controlling stake in Suzhou Hyssen Electronics Co., which makes urine sediment analysis products.
Terms weren't disclosed, although Mindray said the transaction won't have a material effect on its finances.
Mindray and Hyssen are based in China. Mindray said Hyssen is one of the market leaders in automated urine sediment analyzers there.
Urine sediment analysis can detect diseases of the kidneys and urinary tract, Mindray said. It said the market for urine sediment analysis in China was worth about $70 million in 2010, and the market is growing at more than 30 percent per year.
Shares of Mindray slipped 91 cents, or 3.1 percent, to $28.36 in afternoon trading.