Medtronic to invest Rs 3,000 cr in its R&D centre in Hyd

In a significant move towards the growth of the healthcare technology sector in India, Medtronic plc, a global leader in healthcare technology, on Thursday announced an investment of approximately Rs3,000 crore to expand the Medtronic Engineering & Innovation Center (MEIC) in Hyderabad. This is Medtronic’s largest research and development (R&D) center outside of the US.

The investment is a 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 Executive Vice President & President-Surgical Mike Marinaro and others met Minister for IT & Industries KT Rama Rao in New York, US on Thursday. This investment builds on the initial investment of $160 million in the MEIC that was announced back in2020 and expands the company’s footprint in India. The MEIC currently employs 800+ people,primarily engineers, and is expected to grow to over 1,500over the next five-year period with the investment announced on Thursday.

On the occasion, KT Rama Rao said: “Telangana has been a front-runner in the field of life sciences andwas also one of the first States in India to recognise medical devices as a high-potential andhigh-growth sector. The expansion of the MEIC in Hyderabad is a testament to the city’s robustecosystem and its growing prominence in the global med-tech sector.”