Medtronic sets up largest R&D centre outside the US in Hyderabad
New facility will boost Telangana’s MedTech plans and cement Hyderabad’s position as the medical devices hub in India, says KTR.
Hyderabad: Medtronic, global medical technology company, opened its newly expanded state-of-the-art Medtronic Engineering and Innovation Center (MEIC) in Hyderabad. The 150,000 square feet centre employs engineers currently in the areas of software development and testing, test automation, mechanical design, analysis and hardware.
The facility was inaugurated by KT Rama Rao, Minister for Municipal Administration & Urban Development, Industries & Commerce, and Information Technology and his team of officials from the Government of Telangana. Joining the event virtually were S Aparna, secretary, Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Government of India, Joel Reifman, US consul general, Hyderabad, and Geoff Martha, Medtronic chairman and CEO.
Jayesh Ranjan, principal secretary, Industries & Commerce and IT, Government of Telangana and Shakthi Nagappan, director, Life Sciences & Pharma, Government of Telangana were also present.
With this expansion, MEIC aims to leverage the sizable pool of diverse and skilled talent in India to continue its pioneering work in the medical technology space and add further to Medtronic’s 150 plus patents and 400 plus IP disclosures globally that MEIC has been a part of.
“Innovation is one of the cornerstones for Medtronic. Over the years, Medtronic has expanded its footprint, while significantly contributing to the healthcare ecosystem. Given the market size and availability of a high-class talent pool, India is transforming into a global R&D hub,” said Martha.
“With MEIC we aim to tap the talent to continue to innovate for India and beyond. This partnership with the Government of Telangana for the expansion of MEIC will help us serve our Mission – to alleviate pain, restore health and extend life for patients around the world.”
Globally, Medtronic has spent approximately $2.3 billion annually in research and development in recent years, and MEIC recently received an investment of Rs 1,200 crore ($160 million) for expansion in Hyderabad. This investment planned over five years aims to foster global innovation and create several job opportunities.
During the inauguration, KT Rama Rao reiterated the contribution of Medtronic in India’s R&D and said, “Hyderabad today is emerging as a hotspot for Medtech innovation benefitting from the progressive Government policies, abundant talent pool, extraordinary infrastructure, etc. The Government of Telangana is fully committed to foster the culture of innovation in the State and has been undertaking several initiatives to mark India on a global map as an ideal destination for both manufacturing and research & development.”
“Hyderabad is already home to marquee technology and life sciences companies and now, we are extremely delighted to host the largest R&D facility for Medtronic outside the United States. Medical devices sector has been identified as one key focus sector by the state. Inauguration of the new MEIC site will boost Telangana’s MedTech plans and cement Hyderabad’s position as the medical devices hub in India,” added KTR.
Speaking at the inauguration function, Madan Krishnan, vice president and managing director, India Medtronic, said, “Hyderabad is positioned to become India’s hub for technology companies across the world. We see enormous potential in energising the medical devices innovation ecosystem in the country. The R&D team in India is a key contributor to Medtronic’s global product development. The opening of the new site is an important milestone for us as it serves as a critical component in strengthening our global R&D organization and will also drive innovation and growth.”
MEIC serves as a global hub for development, testing and qualification for some of the most advanced and innovative technologies. The setting up of the new R&D facility will focus on various therapy areas including respiratory intervention, remote patient monitoring and digital health, surgical robotics, electrosurgical generators, cardiac rhythm and heart failure, and navigation, amongst others.
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