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Medtronic to invest Rs 3,000 cr in its R&D centre in Hyd
Telangana IT & Industries Minister KT Rama Rao with Medtronic’s leadership team in New York, US
Global healthcare technology major will scale up its employee headcount from over 800 at present to over 1,500 in next 5 yrs
In a significant move towards the growth of the healthcare technology sector in India, Medtronic plc, a global leader in healthcare technology, on Thursday announced an investment of approximately Rs3,000 crore to expand the Medtronic Engineering & Innovation Center (MEIC) in Hyderabad. This 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 Government of Telangana’s efforts to position Hyderabad as a global hub for healthcare technology research and innovation. Medtronic Executive Vice President & President-Surgical Mike Marinaro and others met Minister for IT & Industries KT Rama Rao in New York, US on Thursday. This investment builds on the initial investment of $160 million in the MEIC that was announced back in2020 and expands the company’s footprint in India. The MEIC currently employs 800+ people,primarily engineers, and is expected to grow to over 1,500over the next five-year period with the investment announced on Thursday.
On the occasion, KT Rama Rao said: “Telangana has been a front-runner in the field of life sciences andwas also one of the first States in India to recognise medical devices as a high-potential andhigh-growth sector. The expansion of the MEIC in Hyderabad is a testament to the city’s robustecosystem and its growing prominence in the global med-tech sector.”
