The China Technology Center R&D facility, a 1st for the company, helps the medical device company bolster its strategic growth initiatives for China and other emerging markets, as outlined in Covidien’s 5-year plan.
"Establishing this R&D facility in Shanghai reinforces Covidien’s continued commitment to providing innovative new products that will help healthcare providers worldwide improve patient care and extend healthcare delivery to more people and more places," chairman, president & CEO José Almeida said in prepared remarks. "China is a key market in our global strategy, and this investment is a reflection of our strategic initiatives."
The new 100,000-square-feet facility boasts 17 laboratories and simulation suites intended to increase physician participation in medical device design and development. . The center joins Covidien’s existing Chinese operations, which include 10 commercial offices, a manufacturing center and training facilities, according to a press release.
"The new Shanghai facility will provide a focal point for developing local Chinese talent and grooming the next generation of medical innovators for the industry," according to a press release.
The med-tech giant last year announced plans for the flagship research center in Shanghai where it would house 2 of its emerging market units: Tailored products and breakthrough platforms.