Medtronic (NYSE:MDT) has opened an R&D center — Shanghai Innovation Center — the first outside the U.S. and Europe.
The move represents the company’s initial step in creating local product research and development in China, something that Medtronic CEO Omar Ishrak considers a priority.
“We have already accelerated our efforts to expand in emerging markets, including China, through additional investments in people and infrastructure, and the Shanghai Innovation Center is an example of our work to transform ourselves into a truly global organization,” Ishrak said in a press release. “It allows us a unique opportunity to leverage local talent and expertise to increase our growth in China and link it to our larger global capabilities.”
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
Over five years, Medtronic will hire and train an additional 1,000 skilled workers, several hundreds of who will develop new medical technologies within the Innovation Center.
The center will also function as an incubator for Chinese physicians to commercialize novel ideas into clinical solutions.
Shanghai is also the home to Covidien’s $45 million R&D facility.
The so-called China Technology Center, occupying 100,000 square feet and housing 17 laboratories, will hire more than 300 people over a three-year period. A news release said that the facility boasts state-of-the-art surgical and simulation capability.
A Personalized Approach to Medication Nonadherence
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
