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Hyd gets Medtronic’s Largest Rs 1,200 cr Global R&D Center Outside US

Expanding current R&D Center for Medical Device Software and

Engineering Solutions facility with an investment of INR 1200 crores


Hyderabad, Aug. 11, 2020: Medtronic plc, the global leader in medical technology, has decided to invest INR 1200 crores in scaling up and expanding the current R&D

center into a state-of-the-art engineering and innovation center in

Hyderabad. Medtronic Engineering & Innovation Center (MEIC) will be

the largest global R&D center outside of the United States for

Medtronic. This investment planned over 5 years will provide a boost

to Telangana’s MedTech plans and cement Hyderabad’s position as the

Medical Devices hub in India.



The Government of Telangana and Medtronic have been in discussion for

the last two years regarding the modalities of investment. During his

visit to the United States in 2016, Minister for Industries & IT KT

Rama Rao and his team of officials from Government of Telangana had a

meeting with Omar Ishrak, Executive Chairman and Chairman of the

Board, Medtronic. The partnership was finally announced today via a

virtual meeting with Omar Ishrak, Geoff Martha, Medtronic CEO, Bob

White, EVP and 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. Among others with the Minister included

Principal Secretary Jayesh Ranjan, IAS and Director for Life Sciences

Shakthi Nagappan from Govt. of Telangana.



Making the announcement Omar Ishrak, Executive Chairman and Chairman

of the Board, Medtronic said, “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 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.”


During the virtual meeting, KT Rama Rao briefed 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. While recalling memories of his meeting with  Omar

Ishrak in the U.S., he congratulated him for taking over as the

Executive Chairman of Medtronic and Chairman of the Board of Intel and

congratulated Geoff Martha on his appointment as the new CEO of

Medtronic.



KT Rama Rao said, “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.”


During the conversation, KT Rama Rao alluded to how the story on India

for India and India for the world is getting stronger with recent turn

of global events and assured them of all support from the State

Government for the company’s growth plans and aspirations in India.



Commenting on the announcement, Madan Krishnan, Vice President Indian

Subcontinent and Minimally Invasive Therapies Group APAC concluded

saying, “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.”


ENDS

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