Medtronic to inject Rs 1,200 crore to grow Hyderabad R&D centre to largest outside US

HYDERABAD: In a move that’s slated to boost Telangana’s prospects as an emerging global medical devices hub,

Irish medtech

giant

Medtronic Plc

is investing Rs 1,200 crore over the next five years in expanding its existing R&D centre in Hyderabad into the Medtronic Engineering & Innovation Centre.

The

Hyderabad MEIC

will be the company’s largest global R&D centre outside the US and will house over 1000 engineers over the next few years, said a statement released by Telangana industries & IT minister KT Rama Rao’s office after a virtual meeting with Medtronic top brass.

The existing R&D centre, which is located at Gachibowli, currently houses over 350 engineers.

Omar Ishrak, executive chairman and chairman of the board, Medtronic, said, innovation is crucial to Medtronic’s growth strategy and the expansion of MEIC will help the company serve its mission of using 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.

KT Rama Rao said Hyderabad hosting Medtronic's largest R&D base outside the US is testimony to the city’s growing prowess in the medical devices sector.

“The Telangana government is committed to the growth of medtech 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,” KTR added.