In a significant move towards the growth of the healthcare technology sector in India, Medtronic plc, the global leader in healthcare technology, announced an investment of approximately INR 3000cr (more than$350M) to expand the Medtronic Engineering & Innovation Center (MEIC) in Hyderabad. MEIC is Medtronic’s largest research and development (R&D) center outside of the US. The investment is a part of Medtronic’s overall global R&D led innovation and growth strategy. Medtronic supports the Govt. of Telangana’s efforts to position Hyderabad as a global hub for healthcare technology research and innovation.
Medtronic leaders Mike Marinaro, Mani Prakash, and Divya Prakash Joshi met with the Hon’ble Minister for IT, Industries, Municipal Administration and Urban Development, Shri KT Rama Rao, in New York, USA, to announce their partnership. Mr. Jayesh Ranjan IAS and Mr. Shakthi M Nagappan, CEO, Telangana Lifesciences, were also present.
MEIC has announced an investment of $160M to expand its footprint in India, employing 800+ people and expected to grow to 1500+ over the next 5-year period. The investment will support key healthcare technology areas such as robotics, imaging and navigation, surgical technologies, and implantable technologies. MEIC currently employs 800+ people, primarily engineers. Mike Marinaro, Executive Vice President &President, Surgical, Medtronic said, “We are committed to investing in India’s healthcare ecosystem and delivering innovative solutions that improve patient outcomes.”
