Medtronic Opens Innovation Center in Shanghai

Concurrently with opening a center of excellence in Singapore, Medtronic has also opened an Innovation Center in Shanghai, China. The new facility, located in the company’s China headquarters and the first outside the United States and Europe, represents the company’s initial step in creating local product research and development in China.

“Globalization is a key strategy and driver of growth for Medtronic,” said Omar Ishrak, Medtronic chairman and CEO. “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.”

The Shanghai Innovation Center will work closely with the company’s global research and development teams, as well as local universities and research institutes and more importantly, partner with Chinese physicians to create innovative solutions for patients.

“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,” said Ishrak.

Simon Li, Medtronic vice president and president of Medtronic Greater China, was joined by local government officials, researchers, scientists, and medical experts, to inaugurate the facility. Li called the center a symbol of the company’s long-term commitment to the region and a milestone in Medtronic’s development.

Medtronic Greater China is headquartered in Shanghai, China and has business operations at mainland, Hong Kong and Taiwan offices. Medtronic began its operations in China by opening its first office and building a pacemaker assembly line at Shanghai Zhangjiang High Tech Park in 1996. In 2008, Medtronic made a 15 percent equity investment in Weigao Group, a local medical device company, and formed a joint venture with Weigao. In August 2010, Medtronic opened the company’s first patient care center in Beijing, aiming to help chronic disease patients and the general public better understand diseases and corresponding therapies and make better decisions. In March 2011, Medtronic opened its regional headquarters building in Shanghai, which is where the new Innovation Center is located.