The boom for U.S. medical-device stocks in recent years is also happening for medical-device companies abroad. One of them, China Medical Technologies (NASDAQ:CMED), announced a monster quarter yesterday.

China Medical reported that net income for its fourth quarter increased by 21% year over year on a 46% increase in net revenue. The company attributed the sharp rise in both metrics to a growing acceptance in the Chinese medical community of the company's tumor therapy systems and reagent kits. Increased marketing efforts and the launch of more reagents have also played a contributing role in the torrid growth.

The quarterly results appear to have revived enthusiasm for the stock. After tripling in the six months following the August 2005 IPO, shares came back down to Earth a bit, but after yesterday's news, the stock shot back up 12.7% on the day to reach a 52-week high.

Further good news for shareholders is that the company is growing. In March, the company made a significant acquisition of a diagnostic business. China Medical's diagnostic segment accounted for approximately 40% of the company's net revenue in this most recent quarter, and in all likelihood, it will now account for more than 50% as a result of the acquisition.

Continued growth prospects look particularly good. With management expecting revenue to grow by 50% to 60% in the next year and adjusted net income by about 30%, this stock should not slow down anytime soon. Fools looking for a medical-device maker that has excellent growth potential might want to consider China Medical. Having yet to reach the large-cap status of a Baxter (NYSE:BAX) or Stryker (NYSE:SYK), this company provides an attractive growth alternative.

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Fool contributor Billy Fisher does not own shares of any of the companies mentioned. The Fool has a disclosure policy.