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    300760   CNE100003G67

SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS CO., LTD.

(300760)
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Shenzhen Mindray Bio Medical Electronics : China's Mindray to buy diagnostic test material supplier HyTest for $661 million

05/16/2021 | 10:26pm EDT

BEIJING (Reuters) - China's Shenzhen Mindray Bio-Medical Electronics has agreed to acquire HyTest, a supplier of raw materials used in tests for diseases such as COVID-19, to gain independence in making and developing core materials for testing reagents.

Mindray's purchase of Finland-based HyTest Invest Oy and its subsidiaries for an estimated 545 million euros ($661 million), agreed to in a signing on May 15, would give it the resources of a major developer and manufacturer of antibodies and antigens for diagnostic products, the company said in a filing on Sunday.

Mindray's share rose as much as 8.8% on Monday.

"Self-research and self-production of raw materials for testing reagents is an important guarantee of the reagents' quality," Mindray said in an call with investors on Sunday.

"Mindray's current capacity falls behind the mainstream level of the industry. Through the acquisition, Mindray will ... increase the proportion of core materials made in-house," it said, according to a recording of the call published on Monday.

HyTest has already become core material supplier to Mindray and maintained more than a decade of partnership with the Chinese firm, Mindray said.

($1 = 0.8241 euros)

(Reporting by Roxanne Liu and Ryan Woo; Editing by Tom Hogue)


© Reuters 2021
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Financials
Sales 2021 25 789 M 3 992 M 3 992 M
Net income 2021 8 229 M 1 274 M 1 274 M
Net cash 2021 20 574 M 3 184 M 3 184 M
P/E ratio 2021 57,8x
Yield 2021 0,62%
Capitalization 475 B 73 440 M 73 449 M
EV / Sales 2021 17,6x
EV / Sales 2022 14,3x
Nbr of Employees 11 833
Free-Float 100%
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Mean consensus BUY
Number of Analysts 17
Last Close Price 390,35 CNY
Average target price 525,64 CNY
Spread / Average Target 34,7%
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Managers and Directors
Ming He Cheng General Manager & Director
Xi Ting Li Chairman
Zhi Tang Chairman-Supervisory Board
Hao Xi Independent Director
Hang Xu Director
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