Hyderabad: Medtronic Invests Rs 1,200 Cr In R&D Centre

HYDERABAD: Medtronic, a world-renowned manufacturer of medical spare parts, has announced to invest Rs 1,200 crore in Telangana for scaling up and expanding its existing Research and Development (R&D) centre in Hyderabad. This is the largest R&D center for Medtronic outside the United States. Medtronic will develop the existing facility into a state-of-the-art engineering and innovation centre.

Omar Ishrak, Medtronic's executive chairman, has announced the company's investment in Telangana through a virtual meeting. He said that it was proud to be collaborating with the Telangana government.
 
As part of the virtual meeting held on Tuesday, Telagana IT Minister K Taraka Rama Rao explained the officials of Medtronic company about the various steps being taken by the Telangana government  to promote the medical devices sector. Minister KTR  expressed delight over the Medtronic Company choosing Hyderabad as the destination for its largest R&D center.

KTR briefed them on the programmes undertaken over the past few years in the field of medical spare parts. With this investment, Minister KTR expressed the hope that Hyderabad will become a med-tech hub. Minister that with more investment, there will be an increase in employment opportunities in the state. He recalled congratulating Omar during his visit to the United States, when Omar was elected as company chairman.

The minister said that the Telangana government was committed to the development of the med-tech sector, as evidenced by the ongoing agreement with Medtronic. The Minister said that working with medical device companies is a positive sign in the global health sector. He expressed confidence that along with the creation of large scale jobs through this investment, more new investments would come in this sector.