UPDATE 1-Boston Scientific to invest $150 mln in China, hire more

Wed Jul 27, 2011 9:30am EDT

* Boston Scientific to hire 1,000 more in China in next 5 yrs

* Expects investments to result in revenue above $500 mln by 2016 (Follows alerts)

July 27 (Reuters) - Boston Scientific Corp said it will invest $150 million in the next five years to build manufacturing and training facilities in China and hire 1,000 more people in 5 years.

Boston Scientific expects these investments to result in revenue of more than $500 million by 2016.

The company estimates that its target market in China currently exceeds $1 billion and is growing about 20 percent annually. (Reporting by Anand Basu in Bangalore; Editing by Gopakumar Warrier)

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