Medtronic Opens NewFacility in Singapore Singapore may be a small city-state, but as a player in

Medtronic Opens NewFacility in Singapore

Singapore may be a small city-state, but as a player in the medtech space, it’s attracting heavy hitters. Medtronic, Inc. officially opened the doors of its new manufacturing facility in Singapore on March 10.

The new site was built to respond to the future expected growth of cardiac devices in Asia, a company official said.

Chairman and CEO, 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, toinaugurate 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 markets in Asia.”

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 in 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 said, “The completion of Medtronic’s first pacemaker and leads manufacturing facility in Asia marksan important milestone in Medtronic’sever-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.”

The company’s Singapore operations will have hired and trained more than 120 skilled staff by the end of the year as production increases. Worldwide, Minneapolis, Minn.-based Medtronic has more than 250 manufacturing centers, sales offices, research centers, and education and administration facilities.