Hyderabad: Medtronic to infuse Rs 3,000 crore into R&D centre

HYDERABAD: Healthcare technology major Medtronic PLC has announced an investment of Rs 3,000 crore (over $350 million) to expand Medtronic Engineering and Innovation Center (MEIC) in the city. The investment will support key areas like robotics, imaging and navigation, surgical technologies and implantable technologies.
MEIC is Dublin-headquartered Medtronic's largest research and development (R&D) centre outside the US. The investment is a part of Medtronic's overall global R&D led innovation and growth strategy.
Medtronic supports the Telangana government's efforts to position Hyderabad as a global hub for healthcare technology research and innovation.
A Medtronic team, led by executive vice president and president, surgical operating unit, Mike Marinaro, met IT and industries minister K T Rama Rao in New York on Thursday.
MEIC aims to leverage Indian talent, charts city growth plan
The fresh investment builds on the initial investment of $160 million in MEIC, that was announced back in 2020, and expands the company’s footprint in India. MEIC currently employs 800-plus engineers and is expected to grow to 1,500-plus over five years with the fresh investment. MEIC aims to leverage the sizable pool of diverse and skilled talent in India involving engineering, mobile apps, application and desktop software, cloud/ web apps, data engineering, em- bedded software, product security, and cyber-product security.
IT minister 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 MEIC is a testament to the city’s robust ecosystem and Hyderabad’s growing pro- minence in the global med-tech sector. We are thrilled to conti- nue our support for Medtronic’s growth and look forward to the- ir continued contributions to healthcare innovation in the state and country.” “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 Telangana government on this major investment in the country. We are commit- ted to investing in India’s healthcare ecosystem and delive- ring innovative solutions that improve patient outcomes,” Mike Marinaro said.