The U.S. Defense Dept. yesterday said it exercised a 5th option year on an existing contract with Mindray (NYSE:MR), committing to up to $59.3 million on patient monitoring systems through October 2015.
Mindray beat out 8 other companies for the contract in 2009 then valued at $6 million, the Pentagon said. Last year the Defense Dept. exercised a $35.8 million option on the deal, according to a press release.
Shenzhen, China-based Mindray’s patient monitoring systems generated 36% of total revenues in the 2nd quarter, with system sales increasing 2% to $119 million, according to a regulatory filing. The company also sells in vitro diagnostic products and medical imaging systems, with total 2nd-quarter revenue up 9% year over year to $335 million.
Mindray is scheduled to release 3rd-quarter results Nov. 3.
Last year the company spent $105 million acquiring ultrasound device maker Zonare Medical Systems.
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