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Hyderabad. Medtronic Plc, the world’s leading health technology company, will invest Rs 3,000 crore for the expansion of the Medtronic Engineering and Innovation Center (MEIC) here.
Medtronic said in a press release Thursday that the MEIC is the company’s largest research and development facility outside the United States. This is part of the company’s R&D driven innovation and growth strategy globally.
Top executives of the company met Telangana IT and Industries Minister KT Rama Rao in New York, USA.
MEIC currently employs more than 800 people. With new investments being announced, this number is expected to exceed 1,500 in the next five years.
The investment will help key healthcare technology sectors such as robotics, imaging and navigation, surgical technology.
KT Rama Rao said that MEIC’s expansion in Hyderabad is a testimony to the city’s strong eco-system and growing importance in the global medical technology sector.
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