With this expansion, MEIC aims to leverage the sizeable pool of diverse and skilled talent in India involving engineering, mobile apps etc
Medtronic announced an investment of approximately Rs 3000 crore (more than $350 Million) to expand the Medtronic Engineering & Innovation Center (MEIC) in Hyderabad. MEIC is Medtronic’s largest research and development (R&D) centre outside the US. The investment is 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 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 Minister for IT, Industries, Municipal Administration and Urban Development, Government of Telangana, KT Rama Rao in New York, US to announce. Jayesh Ranjan, Principal Secretary, Industries and Commerce Dept., and Shakthi M Nagappan, CEO, Telangana Lifesciences, Government of Telangana, were also present.
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 key healthcare technology areas like robotics, imaging and navigation, surgical technologies, and implantable technologies.
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 in Hyderabad is a testament to the city’s robust ecosystem and Hyderabad’s 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.”
Mike Marinaro, Executive VP and 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. We are committed to investing in India’s healthcare ecosystem and delivering innovative solutions that improve patient outcomes.”
Divya Prakash Joshi, VP & Site Leader, 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, the Government of Telangana’s efforts have positioned Hyderabad as an innovation hub and healthcare ecosystem enabler. That is why we are excited about the future as the investment will unlock greater potential for the centre by fuelling innovation with activities contributing to the technology pipeline and creating more job opportunities.”
During the meeting, 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. The Minister reiterated the Telangana government’s commitment to supporting the growth of the healthcare technology sector in the state and facilitating such expansion projects, which in turn would help save many lives in India.