Hyderabad: Medical technology player Medtronic on today Thursday unveiled its newly expanded Medtronic Engineering and Innovation Center (MEIC) in Hyderabad.
It was inaugurated by IT and industries minister D.Sridhar Babu. Medtronic chairman and chief executive officer Geoff Martha and US Consul General Jennifer Larson were present.
The expansion is part of the investment of about Rs 3,000 cr that Medtronic will do over a five-year period. Currently, it has 900 people and has plans to increase it to 1,500 people in future.
MEIC is also Medtronic’s largest R&D center outside the US. At 2,50,000 sqft , it is going to focus on collaborative innovation, training and education, immersive experience, and others.
“The presence of MEIC in Hyderabad is a testament to Hyderabad emerging as a hotspot for medtech innovation. The State Government is committed to fostering innovation in the State. It will work towards marking Hyderabad on a global map as an ideal destination for both medical devices manufacturing and research & development,” said Sridhar Babu.
“Our R&D team in India plays a pivotal role in Medtronic’s global product development and MEIC‘s expansion marks a significant milestone in strengthening our global R&D capabilities,” said Geoff Martha.
