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Promising Chinese medical device company, GammaStar, shuts down Cleveland office.

China’s GammaStar Medical Systems, which had in its hand a nearly $190,000 tax credit from Ohio and a promise to create 35 jobs, is shutting down its Beachwood office just months after it arrived.

Ohio’s Tax Authority had in June approved (pdf) a six-year, 35 percent job creation tax credit. It was to create its nearly three-dozen jobs over the next three years. GammaStar, based in Shanghai, makes an instrument that destroys cancerous tumors with radiation while limiting damage to healthy tissue.

The company had only three people working in Beachwood when it decided to close, according to Crains Cleveland Business. Vince Adamus, chief executive of the Beachwood Chamber of Commerce, told Crain’s the company left because of financial problems with the parent company in Shanghai – and he didn’t expect them to return.

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