Medtronic Announces Investment of Rs. 1200 in Hyderabad R&D Centre
CEOInsights Team, 0
The Government of Telangana and Medtronic has been in discussion for the last two years regarding the modalities of investment. During his visit to the United States in 2016, Shri. KT Rama Rao, the Hon’ble Minister for Industries & IT and his team of officials from Government of Telangana had a meeting with Omar Ishrak, Executive Chairman & Chairman of the Board, Medtronic. The partnership was finally announced on 11th August, through virtual meeting with Omar Ishrak, Geoff Martha (CEO, Medtronic), Bob White (EVP & President, Minimally Invasive Therapies Group (MITG)), Madan Krishnan (Vice President Indian Subcontinent and MITG APAC), Mani Prakash (Vice President R&D, MITG), Subu Mangipudi (Vice President RGI Quality & MEIC) and Divya Prakash Joshi (Sr Engineering Director & Site Leader, MEIC Hyderabad). Others who were involved in this meeting are Shri. Jayesh Ranjan (IAS, Principal Secretary to Government Industries and Commerce) & Shri. Shakthi Nagappan (Director for Life Sciences, Govt. of Telangana).
“Research and Development leads to innovation and innovation is crucial to our growth strategy. Medtronic’s investment in India is a testament to our commitment to the region and we are proud to be collaborating with the
It is indeed a great honour for the city to host this center and it is a testimony to Hyderabad’s growing prowess in the medical devices sector
Government of Telangana on this major investment in the country. The expansion of MEIC will help us serve the Medtronic Mission to use medical technology to alleviate pain, restore health and extend life for patients around the world, which is also aligned with the government’s vision to improve access to healthcare for patients in India,” stated Omar Ishrak while making the announcement.
In the meeting, Shri. KT Rama Rao discussed with the Medtronic leadership team on various initiatives taken by the Telangana Government to promote Medical Devices sector and the developments over the last few years. He also congratulated Omar Ishrak for taking over as the Executive Chairman of Medtronic and Chairman of the Board of Intel, and Geoff Martha on his appointment as the new CEO of Medtronic.
“We are delighted that Medtronic has chosen Hyderabad as its largest R&D base outside the U.S. and intends to create about 1000 jobs in the next few years. It is indeed a great honour for the city to host this center and it is a testimony to Hyderabad’s growing prowess in the medical devices sector. Government of Telangana is committed to the growth of med-tech in the state and we see this partnership with Medtronic as a pivotal one. We will work with them to ensure this center will continue to contribute to their remarkable efforts to improve healthcare globally,” says Shri. KT Rama Rao.
“At Medtronic, invention and innovation are vital so that we can help enhance therapy outcomes for people with chronic diseases. MEIC conducts advanced engineering R&D and product development in the areas of design, analysis, advanced hardware-software development and testing. The futuristic vision of Govt. of Telangana and access to great infrastructure has enabled us to make this investment in Hyderabad. I’m confident that this major investment would create many job opportunities in healthcare and help energize the medical devices innovation ecosystem in India,” says Madan Krishnan.