Medtronic has officially opened an innovation centre located in Shanghai, China. The facility, located in the company's China headquarters and the first outside the US and Europe, represents Medtronic's initial step in creating local product R&D in China.
The Shanghai Innovation Centre will work alongside Medtronic's global R&D teams, as well as local universities and research institutes and partner with Chinese physicians to create innovative systems for patients. China has become the fastest growing region among all the emerging economies. To serve this healthcare sector, Medtronic will employ and train an additional 1,000 skilled staff over the next five years, of which a significant proportion will work toward the development of new medical technologies within the centre. The centre will also serve as an incubator for Chinese physicians looked to translate their ideas into commercial opportunities.