Mindray

Medical International Limited (NYSE: MR) ( "Mindray" or the "Company"), a leading developer, manufacturer and

WN.com - Business News 2010

A Mindray spokeswoman in the U.S. declined to comment.

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On Monday, Mindray Medical International , a maker of medical devices in China, was the second-most popular short trade, as measured by the number of shares shorted multiplied by the cost to borrow shares, according to Astec data.

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Hoboken University Medical Center, a 328-bed hospital in Hoboken, N.J., switched from all Philips monitoring equipment to 95% Mindray last year.

Mindray Eyes U.S. as West Looks East 2010

"They're extremely ambitious," says Wayne Quinn, vice president of U.S. sales for Mindray.

Mindray Eyes U.S. as West Looks East 2010

Mindray said lower-than-expected government spending in their domestic market for the first half of the year has limited their planned growth rate and therefore their planned profit for the year.

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Domestically, Mindray was affected by unfavourable year-over-year comparison resulting from the software VAT rebate effective in the first quarter 2009 as well as a decrease in government tender sales.

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Harvey Klein, the proprietor of Klein Biomedical Consultants Inc. in New York, says Mindray has only just cracked the Top 10 for ultrasound market share globally, and he predicts it will take three years before Mindray rivals GE, Philips and Siemens on image quality.

Mindray Eyes U.S. as West Looks East 2010

Now, he says, the hospital is considering Mindray ultrasound machines.

Mindray Eyes U.S. as West Looks East 2010

But Mindray executives bristle at such comments, contending that large rivals are slow to innovate in emerging markets, Mr. Quinn, the U.S. sales executive, compares GE and Philips to Coke and Pepsi.

Mindray Eyes U.S. as West Looks East 2010