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Report Says Biomedical Industry Is Doing Well

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California's biomedical industry is doing well despite the recession. The San Diego-based California Healthcare Institute, and the company Pricewaterhouse Coopers, surveyed CEOs at state biomed companies and examined public records.

— California's biomedical industry is doing well despite the recession.

The San Diego-based California Healthcare Institute, and the company Pricewaterhouse Coopers, surveyed CEOs at state biomed companies and examined public records. They found that despite the recession, the industry is holding steady and expects to grow.

Nearly 2/3 of the biomedical companies, surveyed, either maintained or expanded their workforce over the past year. About 80 percent expect to grow or hold steady in the coming two years.

David Gollaher, the president of the California Healthcare Institute, said, "In the greatest recession since the Great Depression, our industry has maintained, our job base has maintained its investment focus, and has been enormously resilient to the recession."

He adds that the biomedical industry is global, and future growth may occur in other states or other countries.

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