KT Rama Rao inaugurates expansion at Medtronic R&D centre
Hyderabad centre aims to reach 1000 employees in next five years, to be largest R&D centre outside US for the company
Inaugurating the expanded state-of-the-art Medtronic Engineering and Innovation Center (MEIC) in Hyderabad, Telangana Industries Minister KT Rama Rao reiterated Hyderabad as an emerging hotspot for Medtech innovation benefitting from the progressive Government policies, abundant talent pool, extraordinary infrastructure, etc.
Joining the event virtually were S Aparna, honorable secretary, Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Govt. of India, Joel Reifman, US consul general, Hyderabad, and Geoff Martha, Medtronic chairman and CEO. Key dignitaries present at the event were Jayesh Ranjan, principal secretary, Industries & Commerce and IT, Government of Telangana, and Shakthi Nagappan, director, Life Sciences & Pharma, Government of Telangana.
As per a media handout, the 150,000 square feet center employs engineers currently in the areas of software development and testing, test automation, mechanical design, analysis and hardware. With this expansion, MEIC aims to leverage the sizeable 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+ patents and 400+ 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 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 Govt. 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 INR 1200 crore ($160 million) for expansion in Hyderabad. This investment planned over 5 years aims to foster global innovation and create several job opportunities.
Speaking at the inauguration function, Madan Krishnan, VP and MD, 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 organisation and will also drive innovation and growth.”
The setting up of new R&D facility will support Medtronic’s businesses globally, in 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, as per the release.