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Boston Scientific to Expand Chinese Operations

The company is throwing $150 million at China manufacturing.

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.

“We believe there are significant opportunities to accelerate our growth in China, where our market share is a fraction of what it is in the U.S. and Europe,” said Larry Neumann, president of emerging markets, said in a press release. ”Adding to the market potential is the growing affluence of the local population and the Chinese government’s commitment to spend $125 billion on its healthcare system in the next five years.”

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