Medtronic in Rs3k-cr R&D drive at Hyd centre

Hyderabad: 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 in 2020 and expands the company’s footprint in India. The MEIC currently employs 800+ people, primarily engineers, and is expected to grow to over 1,500 over the next five-year period with the investment announced on Thursday.

With this, the MEIC aims to leverage the sizeable pool of diverse and skilled talent in India involving engineering, mobile apps, application & desktop software, cloud/ web apps, data engineering, embedded software, product security, and cyber-product security. The investment will support in key healthcare tech areas like robotics, imaging & navigation, surgical tech and implantable tech.

On the occasion, KT Rama Rao said: “Telangana has been a front-runner in the field of life sciences and was also one of the first States in India to recognise medical devices as a high-potential and high-growth sector. The expansion of the MEIC in Hyderabad is a testament to the city’s robust ecosystem and its growing prominence in the global med-tech sector.”

“We are thrilled to continue our support for Medtronic’s growth and look forward to their continued contributions to healthcare innovation in the state and country,” he added.

Mike Marinaro, executive vice-president & president (surgical), Medtronic, said: “India is known as a global hub for technology innovation, and we believe in India’s potential as a growing market for healthcare innovation. Hyderabad has proven to be a strategic location for Medtronic, and we are proud to be collaborating with the Government of Telangana on this major investment in the country.”

He further said, “we are committed to investing in India’s healthcare ecosystem and delivering innovative solutions that improve patient outcomes.”

Divya Prakash Joshi, V-P & Site Leader of MEIC, said: “Investment in R&D is the foundation for innovation and progress in the healthcare technology sector. It enables us to improve patient outcomes, enhance healthcare quality, and drive economic growth. Over the years, Government of Telangana’s efforts have positioned Hyderabad as an innovation hub and healthcare ecosystem enabler.”

“That is why we are excited for the future as the investment will unlock greater potential for the center by fuelling innovation with activities contributing to the technology pipeline and creating more job opportunities,” she anticipated.

During the meeting, KT Rama Rao provided the Medtronic leadership team with an overview of various new developments and initiatives taken by the Telangana government to promote the healthcare technology sector.

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