Boston Scientific Announces Five-Year, $150 Million Investment in China to Accelerate Commercial... ( NATICK Mass. July 27 2011 /- Boston S...)

Boston Scientific Announces Five-Year, $150 Million Investment in China to Accelerate Commercial Expansion

Date:7/27/2011

NATICK, Mass., July 27, 2011 /PRNewswire/ -- Boston Scientific Corporation's (NYSE: BSX) Board of Directors has approved a five-year, $150 million investment in China to expand its commercial presence in one of the world's largest and fastest-growing medical device markets. This new investment will support the establishment of a local, wholly owned manufacturing facility focused on serving Chinese market needs and developing a world-class training center for Chinese healthcare providers. The training facility will offer instruction on the latest medical device procedures, utilizing therapy-oriented education and a leading-edge, virtual learning, device simulation environment.

In addition to activities associated with this investment, the Company also expects to further invest in R&D and clinical studies while increasing its employee base in China from approximately 200 to more than 1,200 during the period. These initiatives are expected to drive an expansion of Boston Scientific's current sales force to approximately 700 employees and the creation of a fully staffed manufacturing infrastructure, enabling Boston Scientific to better bring its innovative and life-saving technologies to Chinese physicians and their patients.

As a result of this increased investment, as well as current and anticipated initiatives, Boston Scientific now expects to increase its revenues in China to more than $500 million exiting 2016. The Company estimates that its target market in China currently exceeds $1 billion and is growing approximately 20 percent annually. This investment supports and is consistent with our strategic financial objectives communicated at the November 2010 Investor Day.

"The Chinese medical device market, while rapidly evolving and challenging, presents a significant growth opportunity for the Company," said Ray Elliott, Pr
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SOURCE Boston Scientific Corporation
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