Medtronic to expand Medtronic Engineering & Innovation Center in Hyderabad with investment of Rs 3000 crore
This investment builds on the initial investment of USD 160M in MEIC that was announced back in 2020 and expands the company’s footprint in India.;
Hyderabad: In a significant move towards the growth of the healthcare technology sector in India, Medtronic plc has announced an investment of approximately Rs 3000 crore (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.
Medtronic leaders Mike Marinaro, Executive Vice President & President, Surgical, Mani Prakash, Vice President, Enterprise R&D, and Divya Prakash Joshi, Vice President & MEIC Site Leader, met the Hon’ble Minister for IT, Industries, Municipal Administration and Urban Development, Govt. of Telangana, Shri KT Rama Rao in New York, USA to announce. Mr. Jayesh Ranjan IAS, Principal Secretary, Industries and Commerce Dept., and Mr. Shakthi M Nagappan, CEO, Telangana Lifesciences, Government of Telangana, were also present.
This investment builds on the initial investment of $160M in MEIC that was announced back in 2020 and expands the company’s footprint in India. MEIC currently employs 800+ people, primarily engineers, and is expected to grow to 1500+ over the next 5-year period with the investment announced.
"With this expansion, MEIC aims to leverage the sizeable pool of diverse and skilled talent in India involving engineering, mobile apps, application and desktop software, cloud/web apps, data engineering, embedded software, product security, and cyber-product security. The investment will support in key healthcare technology areas like robotics, imaging and navigation, surgical technologies, and implantable technologies," the release stated.
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