Medtronic to invest Rs 3000 cr for expansion of MEIC in Hyderabad
The expansion would generate 1,500 plus jobs in healthcare technology in five years
Hyderabad: Aiming to strengthen the healthcare technology sector in India, Medtronic, the global leader in the sector, has decided to invest Rs 3,000 cr to expand the Medtronic Engineering & Innovation Center (MEIC) in Hyderabad.
MEIC is Medtronic’s largest research and development (R&D) centre outside the US. The investment is a part of Medtronic’s overall global R&D led innovation and growth strategy. The investment would bolster the Government of Telangana’s efforts to position Hyderabad as a global hub for healthcare technology research and innovation.
Medtronic representatives Mike Marinaro, executive vice president & president, Surgical, Mani Prakash, vice president, Enterprise R&D, and Divya Prakash Joshi, vice president & MEIC site leader, met Municipal Administration and Urban Development minister K.T. Rama Rao in New York, USA and informed him of the investment. Jayesh Ranjan, Principal Secretary, Industries and Commerce Department, and Shakthi M Nagappan, CEO, Telangana Lifesciences, Government of Telangana, were also present.