Medical device companies including GE Healthcare and Boston Scientific are investing in China to grow their businesses.

GE Healthcare is relocating its x-ray business headquarters from Waukesha, WI, to Beijing in an effort to take advantage of China's growing healthcare market. The company says China represents an important growth market, the Milwaukee Journal Sentinel reports. Around 20% of GE Healthcare's new x-ray products will be developed there, according to the paper.

The move follows the launch earlier this year of GE Healthcare's "Spring Wind" initiative aimed at improving the company's supply chain in China, as well as ramping up product development and training for healthcare providers in the country.

Healthcare Finance News reports that Boston Scientific is also looking to invest around $150 million in China over the next five years.The company plans to set up manufacturing and training centers, increasing its employee base there by six times. Boston Scientific says its market in China is growing at 20% per year and believes its revenue in the country could reach $500 million over the next five years, according to the publication.

Rapidly developing China is an enticing market for device companies, and I'm betting we'll start seeing more manufacturers increase their presence in Asia. One of our commenters says the device tax will drive them away.

—Jamie Hartford