IVD China this week: Mindray and Tencent Health, bioMérieux and Hengyu Biotech, Embecta

Mindray joins hands with Tencent to explore the large language model in medical care

Recently, at the Tencent Global Digital Ecosystem Conference 2023, Mindray and Tencent Health reached a strategic partnership to jointly promote the digital and intelligent upgrading of the medical device industry, based on digital technologies including cloud computing and large language model in medical care.

Mindray was listed as one of Forbes’ Top 50 Multinational Operated Companies in China

On September 14, Forbes China released its Top 50 Multinational Operated Companies in China”. The process of Chinese companies going overseas developed from low value-added industrial chain to high value-added. 

Data shows that in 2022, Mindray’s total operating revenue was CNY30.366 billion, a year-on-year increase of 20.17%, and overseas revenue was CNY11.698 billion, a year-on-year increase of 16.87%. The company achieved operating revenue of CNY18.476 billion in the first half of 2023, up 20.32% year-on-year, with overseas sales accounting for approximately 40% of the revenue.

As of 30 June, Mindray had subsidiaries in approximately 40 countries outside of China, and its products were exported to more than 190 countries and regions.

Hengyu Biotech and bioMérieux achieve strategic cooperation

On September 12, Zhejiang Hengyu Biological Technology Co., Ltd signed a strategic cooperation agreement with bioMérieux.

The two parties will launch a strategic cooperation in microbiological rapid testing, based on bioMérieux's BIOFIRE FILMARRAY system and BACT/ALERT 3D Dual-T dual-temperature testing platform, to provide high-quality quality control testing and validation services for Chinese users of cellular and gene therapies and biologics.

The world’s largest diabetes device company Embecta has built factories in China

Recently, Suzhou Yingbaida Medical Equipment Co., Ltd. officially opened.

Embecta, a diabetes-focused medical device group of companies that was spun off from Becton, Dickinson and Company in 2022 and listed on NASDAQ in the U.S., employs more than 2,000 people globally and produces approximately 8 billion injection devices annually, serving approximately 30 million patients.

Suzhou Yingbaida is currently the only production base in China, with an annual production capacity of 1 billion insulin needle products, which are supplied to 17 countries and regions, including China, the United States, Asia-Pacific, Europe and the Middle East, to serve diabetic patients around the world.