DOW JONES NEWSWIRES Boston Scientific Corp. (BSX) plans to make a $150 million investment to expand its commercial presence in China, a move it expects will help increase its revenue in the nation to more than $500 million by the end of 2016. As part of the investment, the medical device maker will establish a manufacturing facility focused on the Chinese market and increase its employee base in China to more than 1,200 from roughly 200 workers, among other efforts. "The Chinese medical device market, while rapidly evolving and challenging, presents a significant growth opportunity for the company," said Chief Executive Ray Elliott. Boston Scientific has recently been restructuring its operations in an effort to reduce costs and reshape its product portfolio and pipeline. Last week, Fitch Ratings lifted its rating on the company into investment-grade territory, citing the medical-device maker's steady reduction of debt and its increasingly stable operations. Shares of Boston Scientific closed Tuesday at $6.90 and were inactive in premarket trade. The stock is up 17% in the past year. -By Mia Lamar, Dow Jones Newswires; 212-416-3207; mia.lamar@dowjones.com
