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Mindray Closes on Acquisition of Zonare Medical

Wed, 07/17/2013 - 1:19pm
The Associated Press

 

China's Mindray Medical International Ltd. has closed on its $101.7 million acquisition of ultrasound technology company Zonare Medical Systems Inc.

The deal, which was announced last month, was originally said to be for $105 million. The new purchase price accounts for working capital adjustments.

Medical device maker Mindray said at that time that the transaction would help strengthen its ultrasound research and development and U.S. sales capabilities.

Zonare, based in Mountain View, Calif., had about $64 million in 2012 revenue.

Shares of Mindray climbed 17 cents to $37.80 in Wednesday morning trading.

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