General Electric Co.'s health-care unit, the world's biggest maker of medical-imaging machines, is moving the headquarters of its 115-year-old X-ray business to Beijing to tap growth in China.Business Week
“A handful” of top managers will move to the Chinese capital and there won't be any job cuts, Anne LeGrand, vice president and general manager of X-ray for GE Healthcare, said in an interview. The headquarters will move from Waukesha, Wisconsin, amid a broader parent-company plan to invest about $2 billion across China, including opening six “customer innovation” and development centers.
The move follows the introduction earlier this year of GE Healthcare's “Spring Wind” initiative to develop and distribute medical products and services in China, GE said in a statement today. More than 20 percent of the X-ray unit's new products will be developed in China, LeGrand said.
Business is best run with local ownership, and the state should support that effort.