Boston Scientific Corp. is spending $150 million into a five-year plan to expand its Chinese operations, including establishing a wholly owned manufacturing site and developing training centers for Chinese healthcare providers.
The Natick, Mass.-based firm also plans to increase its Chinese workforce from 200 to more than 1,200 while investing further in research and development and clinical studies, which will drive the company’s sales force up to about 700 employees and require a fully staffed manufacturing infrastructure.
The target market in China exceeds $1 billion and is growing by about 20 percent each year, according to the company.
BSX expects its Chinese sales to top $500 million by 2017.