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GE Healthcare aims to cross billion barrier

By Liu Jie (China Daily)
Updated: 2009-12-21 07:48

GE Healthcare aims to cross billion barrier

A GE Healthcare sales staff member (middle) introduces new GE diagnostic equipment and solutions to Chinese clients at the Radiology Society of North America held this month in Chicago, Illinois. The US-based medical equipment and solution provider wants to expand its business operations in China's rural areas. [China Daily]

With five-star red flags in their hands and smiles on their faces, John Dineen, president and CEO of GE Healthcare worldwide, and Marcelo Mosci, president and CEO of GE Healthcare China, welcomed their Chinese customers and partners with big hugs and warm speeches at the Radiology Society of North America, held earlier this month in Chicago.

Half of the GE booth, the largest one at the world's most influential medical equipments exhibition, was filled with Chinese people during China Hour - an activity specifically designated by GE Healthcare, the US-based medical machine and solution provider - to show its respect to China and appreciation of the Chinese market.

John Dineen, president and CEO of GE Healthcare worldwide.

"China is the second home for GE Healthcare," both of the senior executives said. And they meant it, given the company's noticeable business performance, sound relations with the government and partners, as well as the huge market potential presented by the emerging economy.

According to Mosci, GE Healthcare China's business is to "cross the billion-dollar barrier (in terms of sales) next year for the first time".

The company now has 4,000 employees here. It runs eight factories, mainly joint ventures, nationwide, with more than 600 engineers designing products in China and for China.

It has a research and development center in Shanghai enjoying $200 million of investment, where scientists research new technologies for it global business, not just China alone.

GE Healthcare China maintained two-digit growth over the last decade. So far China has contributed $4 billion to $5 billion in revenue to GE Healthcare, a $17-billion company.

A part of products made in China were exported to its international network, and many raw materials sourced in China are used in its global operations.

According to Mosci, GE Healthcare China plans to increase the number of employees by more than 10 percent or 500 new staff next year.

The company is constantly looking for mergers and acquisitions or joint venture opportunities in China, because "having local players as partners makes us more local, makes us understand better the market", said Mosci. "So there is no other country in the world other than the United States where GE has the full capability right we have in China."

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