Boston Scientific Corporation has invested $150m in developing its medical device market in China.
The five-year investment is to support the growth of local manufacturing and training centre facilities focused on serving Chinese market needs.
Training will involve the latest medical devices, device therapy and a virtual learning simulation environment for healthcare providers.
Larry Neumann, Senior Vice President and President of Emerging Markets at Boston Scientific, commented: “We think the time is right to make additional investments to help fuel our growth, help us win global share, gain access to diverse talent and bring our less-invasive therapies to more patients in China.”
The Corporation’s Board of Directors approved the five-year contract and expects to invest in R&D and clinical studies whilst increasing its employee base in China from 200 to more than 1,200 during the period.
As a result of the investment, Boston Scientific predicts increased revenues to more than $500m by 2016.
Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a range of medical specialties.