BENGALURU: German medtech firm Siemens Healthineers will invest Rs 1,300 crore (EUR 160 million) over the next five years in India as the company plans to set up an innovation hub in Bengaluru. The hub will focus on bringing advanced digital innovation to the healthcare sector.
The company also said it would be hiring 1,800 people with digital skillsets over the course of the next 10 years in India and noted that the country plays an important role in its 2025 strategy.
“This investment is the largest we have ever made in India...The innovation hub in Bengaluru will demonstrate our commitment to advance healthcare through cutting-edge digital technologies as well as through accessible and affordable innovations driven from India,” said Elisabeth Staudinger, President Asia Pacific, Siemens Healthineers.
Bengaluru will be the fourth innovation hub that the German healthtech firm has globally, with the others located in the United States, Germany, and China. The Bengaluru hub will include centers of competence in digital technologies.
Its current Bengaluru factory manufactures entry-level medical systems designed, developed, and made in India, and sold in South-East Asia, Africa, Eastern Europe, and South America. It also says it plans to expand its product portfolio to address the challenge of affordability that is specific to these markets.
“Closely integrating product development and clinical value creation at the new Bengaluru campus will significantly increase our ability to add more value to our customers,” Vivek Kanade, EVP, Siemens Healthineers, stated.