Sivantos Group investment and development in China

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© Sanja Gjenero - Sxc

China Daily reports on Sivantos Group’s investment plans from a Chinese perspective, particularly concerning cooperation in R&D.

Sivantos Group, which has a leading market position in many countries and develops and manufactures one out of every four hearing aids used worldwide, is planning to increase its investment in its R&D centers by 20% this year, according to the report. It has two global R&D centers, one in Singapore and the other in Germany.

Concerning China, Sivantos CEO Roger Radke says that “So far, we have no plan to set up a new R&D center in China, but at the same time we will strengthen our cooperation with Chinese research institutions and colleges in both product research and public hearing aid education. Meanwhile, we have set up a manufacturing center in China this year, and the pilot program of new products will first be carried out in the center.” Sivantos has a manufacturing facility in Suzhou, Jiangsu province, which accounts for one-fourth of its global capacity, and more than 1,000 Siemens franchise stores and 2,000 fitting centers across China.

Despite an overall slow-down in the Chinese economy, Radke has a positive outlook concerning his company’s growth in the country. He believes that growth there will continue to be in double-digit figures for the next 5 to 10 years. Since China has now joined the ranks of countries with an aging population, higher demand is also expected from this segment of the population in the years to come.

Source: China Daily.

C.S.