Mindray to acquire Datascope's patient-monitoring business

China's Mindray Medical International Ltd, on Tuesday announced a definitive agreement to acquire Datascope Corp.'s patient-monitoring business for US$202 million, creating upon completion the third-largest player in the global patient-monitoring device industry.

The acquisition will be funded through Mindray's internal cash and planned third-party borrowings. Datascope will retain approximately US$38 million of receivables generated by the patient-monitoring business.

The transaction has been approved by the boards of directors of both companies and is expected to close, subjective to regulatory and other customary closing conditions, in the second quarter of the year. And it is expected to be accretive to Mindray's earnings per share on a non-GAAP basis starting in 2009.

Mindray, established in 1991, is a leading developer, manufacturer and marketer of medical devices in China with a significant and growing presence worldwide.