Chairman and Chief Executive Officer, Bill Hawkins, was joined by Executive Vice President and Group President of Medtronic International, Jean-Luc Butel, and Singapore’s Minister for Trade and Industry, Lim Hng Kiang, to inaugurate the plant.
“Cardiovascular disease is the world’s No. 1 cause of death. As a leader in the management of cardiovascular and other non-communicable diseases, we understand well the needs of patients and physicians and are leveraging all of our global capabilities to address this growing epidemic,” Hawkins said. “That is why our manufacturing investment in Singapore is so important. We now have greatly increased our ability to ensure Medtronic’s innovative medical technologies will help patients across emerging Asian markets.”
The Cardiac Rhythm Disease Management business at Medtronic accounted for $5.2 billion of the company’s revenue in 2010. By the end of 2011, Medtronic will have invested more than $56 million to the development of its Singapore facility.
Beginning in November, Singapore also will serve as the distribution hub for the Asia-Pacific region. The new facility, which began operations in January, will enable Medtronic to respond more effectively and efficiently to the needs of customers and patients with cardiac rhythm disorders, improving standards of care in Asia.
Speaking at the opening ceremony, Minister Lim Hng Kiang said, “The completion of Medtronic’s first pacemaker and leads manufacturing facility in Asia marks an important milestone in Medtronic’s ever growing presence in Singapore. Medtronic’s investment is a strong vote of confidence for our efforts in developing Singapore into a leading Biomedical Sciences hub.”
Medtronic’s Singapore operations will have hired and trained more than 120 skilled staff by the end of the year as production increases.
Minneapolis, Minn.-based Medtronic has more than 250 manufacturing facilities, sales offices, research centers, education and administration facilities.