Medtronic to expand R&D operations in Hyderabad with ₹ 3,000 cr investment

Plans to increase footprint by building on its initial, $160 million investment in MEIC, double headcount to over 1,500 people in next five years 

May 18, 2023 12:11 pm | Updated 12:11 pm IST - HYDERABAD

Minister K.T.Rama Rao, officials with a leadership team of Medtronics in New York.

Minister K.T.Rama Rao, officials with a leadership team of Medtronics in New York. | Photo Credit: Arrangement

Global leader in healthcare technology Medtronic will expand footprint in Hyderabad with a ₹3,000 crore (around $350 million) investment on its research and development centre, which already serves as the largest such facility for the company outside the United States.

A component of the global R&D led innovation and growth strategy of the company, the investment proposed will build on the initial, $160 million investment announced on the Medtronic Engineering & Innovation Center here in 2020. MEIC currently employs more than 800 people, primarily engineers, and this number is expected to go past 1,500 over the next five years with the additional investment.

The announcement came following a meeting of Medtronic Executive Vice President and President-Surgical Operating Unit, Mike Marinaro, vice president-Enterprise R&D Mani Prakash and vice president and MEIC site leader, Divya Prakash Joshi with Industries and IT Minister K.T. Rama Rao, who is in the U.S. with officials, in New York.

“Telangana has been a front-runner in the field of lifesciences 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 is a testament to the city’s robust ecosystem and Hyderabad’s growing prominence in the global med-tech sector,” Mr. Rao said.

MEIC, with the expansion, aims to leverage the sizeable 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 in key healthcare technology areas like robotics, imaging and navigation, surgical technologies, and implantable technologies, Medtronic and Telangana government said in a joint release.

Describing Hyderabad as a strategic location for Medtronic, Mr.Marinaro said “we are proud to be collaborating with the government of Telangana on this major investment in the country.” The company believes in the potential of India, which has come to be known as a global hub for technology innovation, as a growing market for healthcare innovation too, he said.

The investment will unlock greater potential for the facility by fuelling innovation with activities contributing to the technology pipeline and creating more job opportunities, said Mr.Joshi. Telangana government’s efforts over the years have positioned Hyderabad as an innovation hub and healthcare ecosystem enabler, he said.

The Minister provided the Medtronic team an overview of various new developments and initiatives of Telangana government to promote healthcare technology sector and reiterated the commitment to support growth of the sector in the State as well as facilitating such expansion projects. Industries and IT Secretary Jayesh Ranjan and CEO, Telangana Lifesciences, Shakthi M Nagappan were present during the meeting.

Top News Today

Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in


Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.