Singapore gets a new hi-tech medical facility
Medtronic Inc, a medical technology leader, said it would hire more than 600 people between China and India, the two countries it looks at as emerging markets for its products.health and fitness Updated: Mar 17, 2011 21:34 IST
Medtronic Inc, a medical technology leader, said it would hire more than 600 people between China and India, the two countries it looks at as emerging markets for its products.
"We now have greatly increased our ability to ensure Medtronic's innovative medical technologies to help patients across emerging Asian markets," said William A Hawkins, company's chairman and CEO at the inauguration of the company's Singapore manufacturing facility.
The company, with presence in 120 countries, opened its state-of-the-art Medtronic Singapore Operations (MSO) to meet its future expected growth.
The strategic location of Singapore for the manufacturing facility was chosen owing to the proximity to the market - the emerging markets - as it terms India and China. Medtronic's revenue as on April 30, 2010 stood at $15.8 billion.
Medtronic will have invested over $56 million to the development of its MSO to meet the rising demand in Asia.
With this, the facility that will manufacture cardiac rhythm disease management (CRDM) devices pacemakers and leads became the company's first manufacturing facility in Asia.