KTR inaugurates Medtronic E&I center
Hyderabad: KT Rama Rao, Minister for Industries & Commerce and IT, Telangana, on Wednesday inaugurated the Medtronic Engineering and Innovation Center (MEIC), a state-of-the-art facility for research and development of medical devices. The MEIC will be the largest R&D center outside the US for Medtronic.
"Hyderabad today is emerging as a hotspot for medtech innovation benefitting from the progressive government policies, abundant talent pool, extraordinary infrastructure, etc. We are extremely delighted to host the largest R&D facility for Medtronic outside the United States. Medical devices sector has been identified as a 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," said KTR, during the inaugural of the Medtronic E&I center.
MEIC received an investment of $160 million (nearly Rs 1,200cr) from Medtronic for expansion in Hyderabad. This investment planned over 5 years aims to foster global innovation and will recruit around 1,000 employees. The new R&D facility is a purposeful step to create synergy 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.
"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 Geoff 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."