Another Medical Company Fleeing As Obamacare Looms?
They are popping up here and there…scattered around the nation. But if you look at the big picture: more and more medical companies are starting to quietly invest and shift to overseas markets.
The latest is Boston based Boston Scientific, a large company that employes 25,000 people world wide making various cardiac (heart related) products that are used in stints and other significant medical procedures. Boston announced was laying off 1,200 workers, but did not specify how many in the Greater Boston area. More telling is their plan to seek upwards of 1,000 workers for operations they plan to move to China in the next year or two. The company plans to invest over 150 million in the Chinese venture, and as the company put it, ‘plans to invest in other emerging markets.’ Most economists, with the view of Obamacare looming, peg that as business speak for “we’re getting out of here while the getting’s good, and we get taxed and regulated out of existance.”