Boston Scientific to invest $150M in China
by Brendon Nafziger, DOTmed News Associate Editor | July 27, 2011
First GE Healthcare plans on moving its X-ray headquarters from Wisconsin to Beijing. Now, another major U.S. medical manufacturer has its eyes on China.
On Wednesday, Boston Scientific Corp. said it plans to invest $150 million in China over the next five years, in the hopes of increasing its sales there to more than $500 million by 2016.
The Natick, Mass.-based company said the investments will build a manufacturing facility and a training center for local health care providers. With the new facilities, Boston Scientific's Chinese workforce will grow from 200 to nearly 1,200.
The company estimates its target market in China is worth about $1 billion, and grows 20 percent every year. It also has some new products this year. Boston's Altrua pacemaker launched in China in April. Its Promus Element stent should launch in the fourth quarter, Boston said.
On Wednesday, Boston Scientific Corp. said it plans to invest $150 million in China over the next five years, in the hopes of increasing its sales there to more than $500 million by 2016.
The Natick, Mass.-based company said the investments will build a manufacturing facility and a training center for local health care providers. With the new facilities, Boston Scientific's Chinese workforce will grow from 200 to nearly 1,200.
The company estimates its target market in China is worth about $1 billion, and grows 20 percent every year. It also has some new products this year. Boston's Altrua pacemaker launched in China in April. Its Promus Element stent should launch in the fourth quarter, Boston said.
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