Medtronic Engineering and Innovation Center (MEIC)

History

2021: Opening of R & D Center in India

In early April 2021, Medtronic announced the opening of an R & D laboratory in India. The Medtronic Engineering and Innovation Center (MEIC) with an area of ​ ​ about 14 thousand square meters. m is located in Hyderabad (India). The company intends to spend $160 million over five years to turn Hyderabad into its largest research center outside the United States.

The MEIC Center conducts advanced engineering research, developing products for global operating departments in the field of design, analysis, hardware, software development and testing. MEIC employees defended more than 150 patents and participated in the development of more than 400 devices. By April 2021, the center employed over 400 engineers. Medtronic expects that within five years the number of employees in the enterprise will reach 1000 people.

Medtronic opens its largest R & D center in India and invests $160 million in it

According to the company, the MEIC center uses the local ecosystem to support regional business needs, has established good working relationships with local scientific leaders and has established a scientific partnership with India's academic and hospital networks. Following Medtronic's "Accelerating the Globalization of R & D and Innovation to Create High Value Products" program, MEIC intends to "become the ultimate center for research and development of software and engineering solutions for medical devices" by 2025.

Given the size of the market and the presence of a high-class personnel reserve, India is turning into a global center for research and development, "Medtronic CEO Geoff Martha explained in a press release. - At MEIC we intend to attract new talents for innovative development both in India and abroad.[1]

2020: Attracting $1.6 billion of investments

In mid-August 2020, it became known that Medtronic intends to turn its research and development center in Hyderabad (India) into its second largest research center in the world (after the facility in the United States). The company invested $1.6 billion in a five-year expansion project.

Madan Krishnan, vice president of Medtronic in the Indian subcontinent, said the new project will become the largest global center for research and development outside the United States. It is reported that the staff of the center will increase from 350 employees to about 1000, while the center will provide the company with software and engineering services in the segments of cardiology, neurology, nephrology and minimally invasive surgery.

Medtronic invests $1.6 billion in the largest R & D center outside the United States

According to Krishnan, negotiations between Medtronic and the Telangana state government lasted about two years. Krishnan also noted that the Medtronic project is fully in line with the long-term plans of the Government of India to increase domestic production of medical technologies. He believes that India should use its advantages - qualified technical personnel and technological skills of local IT companies - to attract investments in medical technologies. This will enable the country to integrate into the global supply chain.

Business Today also quoted a statement by the executive chairman and former CEO of Medtronic Omar Ishrac (Omar Ishrak):

The expansion of the Hyderabad Research and Development Center will help us expand the market for medical technologies to relieve pain, restore health and prolong life. These plans are consistent with the mission of the Indian government, which wants to improve access to care for patients in India.[2]

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