Medtronic to invest Rs. 3,000 Cr. in engineering and innovation center in Hyderabad

In a notable development for the healthcare technology sector in India, Medtronic PLC, Ireland-the UK-based global leader in healthcare technology, has announced a mega-investment of over $350 million (around Rs.3000 crore) to expand Medtronic Engineering & Inn—Center (MEIC) in Hyderabad, Telangana.

Medtronic supports the Telangana Govt. under the Leadership of CM KCR's efforts to position Hyderabad City as a global hub for Healthcare technology research and innovation.

The information came after Medtronic top officials like Mike Marinaro, Executive - Vice President (VP), President Surgical Mani Prakash, VP Enterprise R&D, and other senior officials of the company met Telangana's IT and Industries Minister KT Rama Rao in New York, United States, on his tour to the US.

Jayesh Ranjan, Principal Secretary, Industries and Commerce, Telangana Government, and Shakthi M Nagappan, CEO of Telangana Lifesciences, were also present on the occasion.

This investment is based on the initial investment of $160 million in MEIC that was announced in 2020 and aimed at expanding Medtronic's footmark in India. MEIC presently employs over 800 people, mainly engineers, and is predicted to grow to more than 1500 over the next 5 years, with the investment announced on Thursday.