"Mindray Medical International Limited (NYSE: MR), a China-based medical devices firm, is our top investment idea for the coming year," says Alan Newman in his CrossCurrents newsletter.

"The company is headquartered in Shenzhen, China and is one of many Chinese companies now specializing in the development, manufacture and marketing of medical devices worldwide.

"Its products range from patient monitoring units to in vitro diagnostics for bodily fluids, analyzers for same, ultrasound systems and digital radiography systems.

"The company has been around less than 20 years. It has operations in North America, Europe, China, and other Asian countries.

"Growth has been excellent. Revenues increased 57.5% in 2007 and 79% in 2008.In the same span, net income rose 74.9% and 34% respectively.

"The forward P/E is estimated to be 23.8. An $0.18 dividend was paid in March 2008 and a $0.20 dividend was paid in March 2009.

"Like most companies, the shares were crushed in the autumn swoon of 2008 that gripped world markets, but bottomed in late November 2008 and remained on a steady incline until mid-August 2009, rising roughly two-and-a-half fold.

"The shares have since consolidated quite well, trading in a narrow range while our charts suggest accumulation by smart money.

"We believe the stock is a buy at current levels and would not at all be surprised to see the October 2007 peak of $45.19 challenged and exceeded in 2010."