Medtronic to invest Rs 1200 crores over five years, make its Hyderabad R&D centre largest outside US

Medtronic plc, a global company providing health care solutions, has decided to invest Rs 1200 crore over the next five years to expand its Hyderabad R&D center into a state-of-the-art engineering and innovation center, Telangana officials stated.

The captive engineering research & development center was established in June 2011, to build collaborative relationships, help improve procedural outcomes while enhancing patient quality of life, Medtronic says on its website.

“The investment planned over five years will boost Telangana’s MedTech plans and cement Hyderabad’s position as the medical device's hub in India. Medtronic Engineering & Innovation Center (MEIC), Hyderabad will be the largest global R&D center outside of the United States for Medtronic,” industries department officials said.

The modalities of the investment were in discussion for the last two years and the partnership was announced on Tuesday via a virtual meeting of Medtronic and Telangana officials.

“We are delighted that Medtronic chose Hyderabad as its largest R&D base outside the US and intends to create about 1000 jobs in the next few years. This pivotal partnership is a testimony to Hyderabad’s growing prowess in the medical devices sector. We will work with them to ensure this center will continue to contribute to their remarkable efforts to improve healthcare globally,” Telangana’s industries and commerce minister KT Rama Rao said.

“Research and Development leads to innovation and innovation is crucial to our growth strategy. The expansion of MEIC will help us serve the Medtronic mission to use medical technology to alleviate pain, restore health and extend life for patients around the world, which is also aligned with the government’s vision to improve access to healthcare for patients in India,” Omar Ishrak, executive chairman and chairman of the Medtronic Board said while making the announcement.

MEIC conducts advanced engineering R&D and product development in the areas of design, analysis, advanced hardware-software development and testing.