Boston Scientific (NYSE:BSX) reportedly opened a new research & development facility in Gurgaon, India, today that is its largest R&D shop outside the U.S.
The 100,000-square-foot center, called the Institute for Advancing Science, also includes training and commercial facilities, according to the Business Standard.
“The Indian ecosystem has all the right ingredients for innovation, namely a best-in-class technical talent pool in the areas of [science, technology, engineering & math], world-renowned physicians who bring an understanding of clinical unmet needs, and top-notch academic institutions,” Boston Scientific India managing director Prabal Chakraborty told the newspaper.
“The need for innovation in medical technology is a high priority in many countries worldwide and the government will support all efforts in research and innovation so that affordable and quality care is accessible to more and more patients in India,” added Faggan Singh Kulaste, India’s minister of state for health & family welfare.
Boston Scientific said in June that the next stage in the turnaround engineered by chairman & CEO Mike Mahoney will involve an unspecified number of layoffs, although its overall headcount will likely remain “relatively unchanged.” The reorganization aims to cut pre-tax expenses by $115 million to $150 million by the end of 2020.