GE earmarks $37.5m for Shanghai medical arm
11/4/2005
General Electric (China) Ltd. saidhere on Tuesday its medical arm, GE Healthcare, will invest 37.5 million US dollars to expand its medical contrast medium production base in Shanghai.
Its Shanghai facility, which plays a vital role in GE Healthcare's global supply chain, may hopefully become the first contrast medium production base in China to be authorized by the US Food and Drug Administration, said Peter Loescher, president of GE Healthcare's life science division.
He said GE Healthcare has made the investment plan because the company is confident in China and the Asia-Pacific market at large. China alone has reported double digit growth in its demand for contrast medium over the past five years, he said.
GE Healthcare's contrast medium supply chain is backed by its three life science plants in Oslo of Norway, Cork of Ireland and Shanghai of China, along with its designated suppliers in the United States.
GE Healthcare now operates in 25 Chinese cities including Beijing, Shanghai, Wuxi and Guangzhou. It employs 430 people in Shanghai alone.