Medtronic to invest ₹1,200-cr on Hyderabad R&D centre

Our Bureau Hyderabad | Updated on August 11, 2020

Medtronic plc, a leading medical technology company, will invest ₹1,200 crore to scale up its research and development facility in Hyderabad over five years.

It is likely to create over 1,000 jobs in the next few years as the facility will be expanded into an engineering and innovation centre. The Medtronic Engineering and Innovation Center (MEIC) will be the company’s largest global R&D centre outside of the US.

The Government of Telangana and Medtronic have been in discussion for the last two years regarding the modalities of the investment.

Making the announcement in a virtual meeting held on Tuesday, Omar Ishrak, Executive Chairman and Chairman of the Board said that the expansion of MEIC will help the firm in its work to alleviate, Medtronic pain, restore health and extend life for patients around the world.

“The biggest R&D centre for Medtronic outside of the US is likely to create 1,000 jobs in the next few years,” KT Rama Rao Telangana Minister for IT and Industry said.

“The MEIC conducts advanced engineering R&D and product development in the areas of design, analysis, advanced hardware-software development and testing,” Madan Krishnan, Vice-President (Indian Subcontinent) and Minimally Invasive Therapies Group (APAC), said.

Published on August 11, 2020

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