Global leader in healthcare technology Medtronic will expand footprint in Hyderabad with a ₹3,000 crore (around $350 million) investment on its research and development centre, which already serves as the largest such facility for the company outside the United States.
A component of the global R&D led innovation and growth strategy of the company, the investment proposed will build on the initial, $160 million investment announced on the Medtronic Engineering & Innovation Center here in 2020. MEIC currently employs more than 800 people, primarily engineers, and this number is expected to go past 1,500 over the next five years with the additional investment.
The announcement came following a meeting of Medtronic Executive Vice President and President-Surgical Operating Unit, Mike Marinaro, vice president-Enterprise R&D Mani Prakash and vice president and MEIC site leader, Divya Prakash Joshi with Industries and IT Minister K.T. Rama Rao, who is in the U.S. with officials, in New York.
