US$37.5 million investment to extend production facility in Shanghai in order to meet increasing customer demand for its products in the People's Republic of China and as well as throughout the globe
The GE Healthcare plant in Shanghai is currently undergoing a review process to be the first US FDA approved site for contrast media in China.
Upon approval, the GE Healthcare Shanghai plant will be able to supply product beyond China to the USA as well as numerous markets throughout the world.
The Shanghai plant already plays a critical role in the company's global contrast media supply chain (CMSC).
However, over the next five years the demand for contrast media in China alone is expected to grow in double digits.
In order to meet this increased demand the company is making provisions today for an increase in production capacity.
Today, the Shanghai facility manufactures close to five million units of GE Healthcare's X-ray and magnetic resonance imaging (MRI) products; Visipaque, Omnipaque, and Omniscan.
This investment will involve the expansion of the facility over the next two years to increase production capacity to 15 million units.
The development of the plant is designed to be scalable with future expansion in mind to be capable of manufacturing up to 30 million units annually.
The proposed investment adds mixing and preparation, filling, sterilisation, inspection, packaging, and associated utility equipment, and expands the on-site storage capability for materials and product.
Peter Loescher, president and CEO, GE Healthcare for Biosciences said: "This investment underscores our excitement and belief in growth in China and the broader Asia-Pacific region, a strategic market for us.
"It also allows us to fulfill one of our chief business priorities - to get as close to the healthcare providers there as possible".
GE Healthcare has been active commercially in China since 1991 and today employs 3000 people in more than 25 locations across the country with principle sites in Beijing, Shanghai, Wuxi and Guangzhou.
In Shanghai over 430 employees work on the manufacture of medical diagnostic contrast media, licensed production of calcium supplement tablets as well as marketing and sales in China.
The CMSC manufactures the majority of finished products at three GE Healthcare Bio-Sciences plants (Oslo in Norway, Cork in Ireland, and Shanghai in China) and one third party manufacturer in the United States.
The GE Healthcare Bio-Sciences plants are the prime suppliers, with the third party supplier retained primarily for contingency purposes.
GE Healthcare provides what it calls transformational medical technologies that are shaping a new age of patient care.
GE Healthcare's expertise in medical imaging and information technologies, medical diagnostics, patient monitoring and life support systems, disease research, drug discovery, and biopharmaceutical manufacturing technologies is helping physicians detect disease earlier and to tailor personalised treatments for patients.
GE Healthcare offers a broad range of products and services that are improving productivity in healthcare and enhancing patient care by enabling healthcare providers to better diagnose and treat cancer, heart disease, neurological diseases, and other conditions.
Headquartered in the United Kingdom, GE Healthcare is a $15 billion unit of General Electric.
Worldwide, GE Healthcare employs more than 43,000 people committed to serving healthcare professionals and their patients in more than 100 countries.
