Medtronic 1,200 Crore Investment in Hyderabad R&D - Largest Outside the US

Irish Medtech giant Medtronic Plc to invest Rs 1,200 crore in the next five years to help expand its existing R&D center in Hyderabad to the Medtronic Engineering & Innovation Centre, in an attempt to improve Telangana’s prospects as an emerging global medical device hub.

Hyderabad MEIC will be the company’s largest global R&D center outside the US. It will house more than 1,000 engineers over the next few years, according to a statement released by Telangana Industries & IT Minister KT Rama Rao’s office after a virtual meeting with Medtronic’s top brass.

Executive Chairman and Chairman of the Board of Medtronic Plc., Omar Ishrak, stated that an innovation, which is also aligned with the government’s mission to enhance access to healthcare for patients, is needed. He also said that to alleviate pain, restore health, and improve the lives of patients around the world, the extension of MEIC will help the company achieve its goal of using medical technology. Currently, over 350 engineers are working at the new R&D center in Gachibowli.

A great testament to Hyderabad’s growing medical market is Medtronic’s most extensive R&D base outside the US. KT Rama Rao, Minister of MA&UD, Industries, and IT&C of Telangana, stated that the Government of Telangana is aiming at growing the medical market, and the collaboration with Medtronic is going to play a crucial role.