Mindray Medical International Limited announced an agreement to acquire Zonare Medical Systems Inc, an ultrasound company for $105 million. Mindray’s management expects the deal to strengthen its high-end ultrasound research and development and US sales capabilities, furthering the company’s goal of becoming a leading provider of high-quality imaging products to markets worldwide.
Mindray plans to maintain Zonare’s brand and existing operations under its current management team led by Timothy A. Marcotte, Zonare’s president and CEO. The transaction is expected to close in the third quarter of 2013 and is subject to regulatory and other customary closing conditions.
