Hyderabad: US-based healthcare company, Providence, opened its Global Innovation Centre in Hyderabad, its first such move outside its home country. The $25-billion company plans to invest $100 million (over Rs 700 crore) in its India operations over the next four years.
The centre will focus on engineering, modern infrastructure, data intelligence, digital innovation, cyber security, application development and support. The company set up its centre at Skyview (Madhapur), spread over 85,000 sq ft. To start with, it will house 350 employees, further expanding to about 800 in the next two years.
On what attracted the company to the city, Murali Krishna, SVP and country manager, Providence India, said, “Hyderabad is the fastest growing city in the world today and the most preferred investment destination. The city also created a vibrant startup ecosystem with incubators such as T-Hub and WE Hub. Robust infrastructure, availability of large talent pool, Telangana government’s industry-friendly policies attracted us to set up our centre”.
Echoing the same, Providence EVP BJ Moore, said, “We found talented engineers in Hyderabad with both technology capabilities and domain understanding of healthcare. We want to be a technology leader in healthcare and want to leverage the city’s capabilities”.
US Counsel General-Hyderabad Joel Reifman said in the last six months, several large US companies announced their investments in Hyderabad across verticals. The city gained its recognition both for its ease of doing business and for being the world’s most dynamic city.
IT and Industries Principal Secretary Jayesh Ranjan said, “Hyderabad continues to attract global capability centres (GCCs). The city saw a shift from merely being a back office base for multinationals to becoming a product development and innovation hub. Microsoft developed Windows 8 from its Hyderabad operations. In the last few years, Hyderabad attracted companies that work on new-age technologies”.
Ranjan emphasised, Providence can extend its healthcare solutions, which the State government can use in its healthcare delivery systems.