INDIA – Global leader in healthcare technology Medtronic plans to invest approximately INR 3000 crores (nearly US$350M) to expand its engineering and innovation facility in Hyderabad, India.
Medtronic is looking to expand its operations in the Indian state of Telangana and the expansion is expected to create more than 1,500 new high-value jobs over the next years.
The expansion of Medtronic’s largest research and development (R&D) center outside of the United States will bring in a sizeable pool of diverse and skilled talent in India.
The medical device maker intends to expand the Medtronic Engineering & Innovation Center (MEIC) in Hyderabad as part of its overall global R&D-led innovation and growth strategy.
This news follows the significant contribution of the R&D team at Medtronic Engineering & Innovation Center in the launch of the Medtronic Hug RAS system.
Expansion of the facility will help boost Medtronic’s expertise in engineering, mobile apps, application and desktop software, cloud/web apps, data engineering, embedded software, product security, and cyber-product security.
Furthermore, this transformation project is an important step towards the growth of the healthcare ecosystem in India as the subcontinent continues to emerge as a growing market for healthcare innovation.
It follows the initial investment of US$160M in MEIC that was announced back in 2020 and expands Medtronic’s footprint in India.
The transformed MEIC is expected to enable Medtronic to grow its key healthcare technology areas like robotics, imaging and navigation, surgical technologies, and implantable technologies.
Moreover, the new investment will build on the Government of Telangana’s efforts to position Hyderabad as a global hub for healthcare technology research and innovation.
It will further cement Telangana’s position as a front-runner in the field of life sciences as it is one of the first States in India to recognize medical devices as a high-potential and high-growth sector.
Ultimately, the investment will unlock greater potential for MEIC by fuelling innovation with activities contributing to the technology pipeline and creating more job opportunities in India.
The ground-breaking ceremony was officiated by Medtronic leaders including Mike Marinaro, Executive Vice President and President of the Surgical Operating Unit, Mani Prakash, Vice President of Enterprise R&D, and Divya Prakash Joshi, VP & Site Leader of MEIC.
Hon’ble Minister for IT, Industries, Municipal Administration and Urban Development, Govt. of Telangana, Shri KT Rama Rao also backed the expansion project.
Other officiating guests at the ceremony included Mr. Jayesh Ranjan IAS, Principal Secretary, Industries and Commerce Dept., and Mr. Shakthi M Nagappan, CEO of Telangana Lifesciences under the Government of Telangana.
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