GE Healthcare—of the General Electric Company—is transferring its headquarters from the United States to China. Their aim is to make products specifically for China and other emerging markets.
A manufacturer of diagnostic imaging equipment, GE Healthcare plans to develop 20 new products in China over the next two years. The products are mainly for primary care and include ultrasound, patient monitoring, and anesthesia machines.
GE Healthcare Global X-Ray Vice President and General Manager Anne LeGrand said on Monday the move will be done by end of August.
President and Chief Executive of GE Healthcare China Rachel Duan says this is the first time a global product company moves its headquarters to China.
The decision to move comes after GE announced last year its plan to invest two billion US dollars, including $500-million for six research centers in China.