Medtronic and Mindray Forge Strategic Partnership to Expand Advanced Patient Monitoring into U.S. Ambulatory Surgery Centers

The world's leading device company collaborates with China's top device company, targeting the U.S. outpatient market.

On January 22, Medtronic and Mindray announced the expansion of their strategic partnership in patient monitoring technology from hospitals to Ambulatory Surgery Centers (ASCs), further demonstrating their shared commitment to supporting clinicians and patients in both inpatient and outpatient settings in the United States.

Both parties stated that the alliance simplifies the access and integration of the two companies' advanced monitoring solutions, which is expected to help reduce costs, improve clinical outcomes, and enhance patient care.

As more surgeries shift from inpatient to outpatient settings, the demand for advanced monitoring instruments and solutions in outpatient facilities is increasing, providing opportunities for Mindray's expansion in the U.S. market.

Wayne Quinn, President of Mindray North America, said: "The expansion of our partnership with Medtronic highlights our shared vision of making advanced monitoring technology more widely available across all points of care. As more medical procedures move to outpatient settings, we are proud to offer the same level of advanced monitoring and clinical insights as those provided in hospitals, helping ambulatory surgery centers deliver exceptional care efficiently and with confidence."

Blake Tatum, Vice President of U.S. Commercial Operations for Medtronic's Acute Care and Monitoring business, stated: "Patients should have access to reliable, high-quality monitoring regardless of where they receive treatment. By integrating Medtronic's industry-leading technologies such as Microstream™ end-tidal carbon dioxide monitoring, BIS™ brain monitoring, Nellcor™ pulse oximetry, and INVOS™ regional oximetry into Mindray’s innovative platform, we are making advanced monitoring technologies more accessible for adoption in ambulatory surgery centers, allowing clinicians to focus on the patient."

This is not the first collaboration between Medtronic and Mindray. Mindray North America and Medtronic’s Acute Care & Monitoring division have a long-standing partnership in the acute care field, particularly in perioperative care. Mindray took the lead in integrating Medtronic’s BIS™ four-channel EEG monitoring system and INVOS™ regional oximetry technology. These integrations enable clinicians to monitor the depth of anesthesia and regional tissue oxygenation with clinical precision in critical care and perioperative settings.

It is reported that Mindray North America is actively integrating the next generation of Medtronic monitoring technologies, including the upcoming INVOS™ 7100 Regional Oximetry System and the next-generation BIS™ Brain Monitoring System, ensuring that clinicians and patients continue to benefit from the most advanced monitoring capabilities.

In addition, the two companies will leverage their integrated dealer network to provide a more efficient and cost-effective procurement process for medical systems across the United States to purchase Mindray monitoring systems equipped with all Medtronic technologies.

In 2004, Mindray's patient monitors obtained FDA 510(K) product certification for the first time, successfully entering the U.S. market, while its rise in the U.S. market began around 2006.

At that time, Mindray successfully went public in the U.S., raising $270 million, and became the first Chinese medical device company to be listed on the U.S. stock market. It later acquired Datascope's life information monitoring business in the U.S., successfully opening up the U.S. market, which was of great significance for Mindray’s expansion in the international market.

In 2013, Mindray reached an equity transfer agreement with U.S.-based ZONARE Medical Systems Group, acquiring ZONARE, a leading enterprise in ultrasound technology development, for $105 million.

In addition, Mindray has successively established R&D centers in Silicon Valley, New Jersey, Minnesota, and other places in the United States.

Under the steady and well-planned localization strategy for international markets, Mindray's large, high-end customer base in the North American market continues to grow.

In the United States, Mindray has its own professional sales team that directly gathers market information from end customers. Orders are secured through bidding, commercial negotiations, and other methods, followed by signing sales contracts with clients for product sales. The direct sales products cover medical institutions at all levels, including large healthcare groups, integrated healthcare networks, private hospitals, private clinics, private operating rooms, university hospitals, specialized hospitals, GPO procurement organizations, etc.

Currently, Mindray has partnered with the four major U.S. group purchasing organizations—Vizient, Premier, Intalere, and HPG—covering nearly 10,000 end-user healthcare institutions across North America.

Besides, Mindray has covered 80% of IDN medical systems and more than 2,700 IDN hospitals in the United States. Nearly 35% of the covered IDN hospitals use two or more of the company’s product combinations. Long-term cooperative relationships have been established with several large IDN medical groups, including HCA Healthcare, Kaiser Permanente, Tenet Healthcare, Christus Health, etc.

After experiencing many years of stable growth with performance increases of over 20%, Mindray's development is facing a new breakthrough point, and the key to this breakthrough lies in overseas markets, especially in developed countries.

Due to advanced healthcare systems and higher personal health awareness, developed countries have a vast scale of healthcare consumer markets. Globally, the European and American markets account for approximately 70% of the global medical device market. To break into the top ten globally, Mindray must capture a significant share of the developed country markets.

Due to the sales model in developing countries being similar to that in China, Mindray has quickly expanded its presence in the developing country markets. Currently, Mindray has established a comprehensive and extensive distribution system in multiple developing countries, with products entering various general and specialized hospitals.

In contrast, the developed markets in Europe and America are more mature. The North American market boasts a well-established healthcare system and high market entry standards, leading globally in the research, production, and application of medical devices, particularly demonstrating significant technological advantages and market share in the high-end medical device sector.

The European market is known for its high-standard healthcare system and stringent quality regulations, and it also plays a significant role in global medical device trade, with numerous international companies establishing branches or research centers there.

In recent years, Mindray has gradually built up a high competitive barrier through continuous R&D investment. Under its digital and intelligent strategy, it has achieved constant breakthroughs in the high-end field, laying a foundation for its accelerated entry into the European and American markets. Meanwhile, driven by the "capital + industry" dual approach, the proportion of international revenue has been increasing.

Mindray recently stated that, with the successive release of its ultra-high-end ultrasound series in major overseas countries, high-end customers have begun to recognize that the company’s technical level and innovation capabilities in the ultrasound field are no less impressive than those of European, American, and Japanese brands. In fact, in some academic fields and intelligent applications, Mindray has even started to become a leader. This is of great significance for further enhancing Mindray's ultrasound brand image and fully opening up the high-end market overseas.

Using digital intelligence to drive globalization is also one of its strategies. After Mindray launched the "Qiyuan Critical Care Large Model" in 2024, it subsequently introduced the Qiyuan Equipment Management Large Model for medical engineers, the Rayimage Obstetrics and Gynecology Ultrasound Digital Intelligence System and Rayimage Breast Ultrasound Digital Intelligence System for ultrasound departments, and the Qiyuan Laboratory Large Model for laboratory departments. Going forward, Mindray's Qiyuan Large Model series will expand into more departments.

At the recent JPM conference, Mindray announced that the company has set a more defined goal for advancing globalization — increasing the proportion of international business revenue from the current 50% to over 60%.

As of now, Mindray has established 63 overseas subsidiaries in approximately 40 countries across North America, Europe, Asia, Africa, and Latin America, forming a vast global network for research and development, manufacturing, marketing, and service.

After experiencing the US stock market and the A-share market, Mindray has embarked on its journey of IPO in the Hong Kong stock market. Leveraging "digital intelligence" to drive "globalization," Mindray is heading towards the "deep sea" of global homogenization of medical resources.