In a significant move towards the growth of the healthcare technology sector in India, Medtronic plc, the global leader in healthcare technology, announced an investment of approximately INR 3000cr (more than $350M) to expand the Medtronic Engineering & Innovation Center (MEIC) in Hyderabad. MEIC is Medtronic’s largest research and development (R&D) center outside of the US. Medtronic supports the Govt. of Telangana’s efforts to position Hyderabad as a global hub for healthcare technology research and innovation.
Medtronic leaders Mike Marinaro, Executive Vice President & President, Surgical, Mani Prakash, Vice President, Enterprise R&D, and Divya Prakash Joshi, Vice President & MEIC Site Leader, met Minister for IT, Industries, Municipal Administration and Urban Development, KT Rama Rao in New York, USA to announce the decision.
This investment builds on the initial investment of $160M in MEIC that was announced back in 2020 and expands the company’s footprint in India. MEIC currently employs 800+ people, primarily engineers, and is expected to grow to 1500+ over the next 5-year period with the
investment announced today.
With this expansion, MEIC aims to leverage the sizable pool of diverse and skilled talent in India involving engineering, mobile apps, application and desktop software, cloud / web apps, data engineering, embedded software, product security, and cyber-product security. The investment will support key healthcare technology areas like robotics, imaging and navigation, surgical technologies, and implantable technologies.
“Telangana has been a front-runner in the field of life sciences and was also one of the first States in India to recognise medical devices as a high-potential and high growth sector. The expansion of MEIC in Hyderabad is a testament to the city’s robust ecosystem and Hyderabad’s growing prominence in the global med-tech sector. We are thrilled to continue our support for Medtronic’s growth and look forward to their continued
contributions to healthcare innovation in the state and country,” Minister KT Rama Rao said.
Mike Marinaro, Executive Vice President & President, Surgical, Medtronic said, “India is known as a global hub for technology innovation, and we believe in India’s potential as a growing market for healthcare innovation. Hyderabad has proven to be a strategic location for Medtronic, and we are proud to be collaborating with the Government of Telangana on this major investment in the country. We are committed to investing in India’s healthcare ecosystem and delivering innovative solutions that improve patient outcomes.”
During the meeting, Mr. KT Rama Rao provided the Medtronic leadership team with an overview of various new developments and initiatives taken by the Telangana Government to promote the healthcare technology sector. The Minister reiterated Telangana Government’s commitment to supporting the growth of the healthcare technology sector in the state and facilitating such expansion projects, which in turn would help save many lives in India.