Medical devices maker Medtronic plc will invest about ₹3,000 crore (more than $350 million) to expand its Medtronic Engineering and Innovation Center (MEIC) in Hyderabad.

The centre is the Dublin-headquartered company’s largest research and development (R&D) center outside of the US. And it comes against the backdrop of the new medical devices framework unveiled in India.  

The investment will support key healthcare technology areas including robotics, imaging and navigation, surgical technologies, and implantable technologies. However, this is not a first from Medtronic, and it has in 2020 invested $160 million in MEIC. The centre currently employs about 800 people, primarily engineers, and is expected to grow to 1500-plus over five years, a Medtronic note said.

The investment is part of Medtronic’s global innovation-led growth strategy, the company said, even as the Telangana government develops Hyderabad as a global hub for healthcare technology research and innovation. The agreement was formalised between Medtronic representatives and Telangana government representatives in New York.

Speaking from the US, Divya Prakash Joshi, Vice President and MEIC site leader told businessline, the centre was part of its global research and had filed about 200 patents.  MEIC aims to leverage the pool of diverse and skilled talent involving engineering, mobile apps, application and desktop software, cloud/web apps, data engineering, embedded software, product security, and cyber-product security, the multinational said.

Mike Marinaro, Medtronik Executive Vice-President and President, Surgical, Medtronic said, the company believed in India’s potential as a growing market for healthcare innovation. Telangana’s IT, Industries, Municipal Administration and Urban Development minister KT Rama Rao said, the State has been a front-runner in life sciences and was also one of the first in India to recognise medical devices as a high-potential and high growth sector.

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