Philips lines up $54m investment

SUZHOU: Electronics company Royal Philips Electronics yesterday said it would invest $54 million to set up an Industrial Campus for imaging systems in China over the next five years, to cash in on the nation's healthcare reforms.

Located in the Suzhou Industrial Park, Jiangsu province and covering 62,000 sq m, the Industrial Campus for imaging systems will have the integrated facilities of R&D, manufacturing, assembly and sourcing in one site.

The campus mainly produces intermediates for the Chinese market and is adapted to the requirements of local hospitals. It will produce 64-slice CT and 1.5T MR machines, which are mainstream imaging systems equipment in most of China's provincial and city level hospitals, as well as X-Ray equipment for mid-sized hospitals.