General Electric's health-care unit is moving the headquarters of its x-ray business from Waukesha, Wisconsin to Beijing to gain from Chinese growth, according to Bloomberg.
The company said only a few of its top managers would move to China, and that it expects no job losses at its Wisconsin office, that has 120 employees. GE Healthcare will however hire 65 new engineers and other staff at the new Chengdu facility.
This is part of the parent-company's broader plan to invest $2 billion in China. General Electric expects its health-care revenue in China to rise 20% annually through 2015.
Earlier this year GE Healthcare launched a three-year "Spring Wind" initiative that aims to helps the Chinese government by developing affordable healthcare products, boost medical distribution network across China and offer training for Chinese healthcare professionals. In 2010, GE Healthcare also committed to sending 500 members into rural China to help grassroot medical institutions.
While the company reported no job losses in the U.S. stemming from the move, President Obama and Jeffrey Immelt are likely to face flak, since Obama appointed Immelt the top outside economic adviser and charged him with running a jobs-focused panel to help bring the U.S. economy back on track.
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