Political News Telangana

IT Minister KTR inaugurated Medtronic Co in Hyderabad


IT and Industries Minister KT Rama Rao today inaugurated a US based Medtronic Engineering and Innovation Center (MEIC) in the city here. 
Extending all support for Medtronic, KTR said that it is to be the Largest Research and Development Center Outside the U.S. for Medtronic
Medtronic plc (NYSE:MDT), the global leader in medical technology, today announced the inauguration of its newly expanded state-of-the-art Medtronic Engineering and Innovation Center (MEIC) in Hyderabad. 
KTR launched the research and development facility. 
During the inauguration, KT Rama Rao reiterated the contribution of Medtronic in India’s R&D and said, “Hyderabad today is emerging as a hotspot for Medtech innovation benefitting from the progressive Government policies, abundant talent pool, extraordinary infrastructure, etc. 
The Government of Telangana is fully committed to foster the culture of innovation in the state and has been undertaking several initiatives to mark India on a global map as an ideal destination for both manufacturing and research & development. 
Hyderabad is already home to marquee technology and life sciences companies and now, we are extremely delighted to host the largest R&D facility for Medtronic outside the United States he said.
Medical devices sector has been identified as one key focus sector by the state. Inauguration of the new MEIC site will boost Telangana’s  MedTech plans and cement Hyderabad’s position as the medical devices hub in India.”
Joining the event virtually were  S. Aparna,  Secretary, Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Govt. of India, Joel Reifman, U.S. consul general, Hyderabad, and Geoff Martha, Medtronic chairman and CEO.
 Key dignitaries present at the event were  Jayesh Ranjan, principal secretary, Industries & Commerce and IT, Government of Telangana and  Shakthi Nagappan, director, Life Sciences & Pharma, Government of Telangana were present.
The 150,000 square feet center employs engineers currently in the areas of software development and testing, test automation, mechanical design, analysis and hardware. With this expansion, MEIC aims to leverage the sizeable pool of diverse and skilled talent in India to continue its pioneering work in the medical technology space and add further to Medtronic’s 150+ patents and 400+ IP disclosures globally that MEIC has been a part of.
“Innovation is one of the cornerstones for Medtronic. Over the years, Medtronic has expanded its footprint, while significantly contributing to the healthcare ecosystem. Given the market size and availability of high-class talent pool, India is transforming into a global R&D hub,” said  Martha. “With MEIC we aim to tap the talent to continue to innovate for India and beyond. This partnership with Govt. of Telangana for the expansion of MEIC will help us serve our Mission – to alleviate pain, restore health and extend life for patients around the world.”
Globally, Medtronic has spent approximately $2.3 billion annually in research and development in recent years, and MEIC recently received an investment of INR 1200cr ($160 million) for expansion in Hyderabad. This investment planned over 5 years aims to foster global innovation and create several job opportunities.
Speaking at the inauguration function, Madan Krishnan, vice president and managing director, India Medtronic Pvt Ltd., said, “Hyderabad is positioned to become India’s hub for technology companies across the world. We see enormous potential in energizing the medical devices innovation ecosystem in the country. The R&D team in India is a key contributor to Medtronic’s global product development.  

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