HYDERABAD: Medtronic plc, a leading healthcare technology company, is set to invest Rs 3,000 crore in expanding the Medtronic Engineering & Innovation Centre (MEIC) in Hyderabad, marking a significant development in the healthcare technology sector in Telangana.
MEIC is Medtronic’s largest R&D centre outside the US, and this investment aligns with the company’s global growth strategy. Medtronic supports the State government’s efforts to establish Hyderabad as a global hub for healthcare technology research and innovation.
This investment builds upon the initial $160 million investment announced in 2020 for MEIC. Currently employing over 800 engineers, MEIC is expected to grow to over 1,500 employees within the next five years. The expansion aims to leverage India’s abundant pool of skilled talent in various areas and will focus on key healthcare technology domains, including robotics, imaging and navigation, surgical technologies and implantable technologies.
Commenting on the development, IT Minister KT Rama Rao said, “Telangana has been a frontrunner in the field of life sciences. The expansion of MEIC in Hyderabad is a testament to the city’s robust ecosystem and growing prominence in the global med-tech sector.”
Mike Marinaro, Medtronic executive V-P said, “India is known as a global hub for technology innovation, and we believe in India’s potential as a growing market for healthcare innovation. Hyderabad has proven to be a strategic location for Medtronic, and we are proud to be collaborating with the Government of Telangana.”