China economic growth slows to rates not seen in more than 3 years, an ominous sign for the clutch of med-tech titans with aggressive strategies in the country.
Medical device companies may need to review their BRIC strategies, as China's economy slows to a new 3-year low.
China, cited by several med-tech leaders as one of the most important regions to capture, reported a 7.6% growth rate for the 2nd quarter, but the actual figures may be even lower.
"We continue to believe that China's economy is not doing as well as the already downbeat official figures suggest," Capital Economics' chief Asia economist Mark Williams said told Bloomberg. Our view is that growth may actually have been weaker still – our China Activity Proxy points to growth of around 7.0%."