Covidien, a global provider of healthcare products, has officially opened its China Technology Center (CTC) Research and Development (R&D) facility in Shanghai.
With a total investment of $45 million over a three year period, the CTC will eventually employ more than 300 people. The facility spans more than 100,000 square feet, houses 17 laboratories and has state-of-the-art surgical and simulation suites that enable healthcare professionals to be actively involved in the medical device design and development process.
"China is a key market in our global strategy, and this investment is a reflection of our strategic initiatives,” said José E. Almeida, chairman, president and CEO of Covidien. “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.”
The CTC has two core focus areas, the first being the design of tailored products. CTC will aim to identify and develop products that are customized to meet the needs of China and other emerging markets. The second focus is the discovery of breakthrough platforms in medical technology, which CTC hopes to accomplish by utilizing the individual skill sets and expertise of employees in Asia to create and develop new medical device technologies.
"This location will help us tap into internationally renowned experts based here in China, including world-class engineering talent,” said Dong Wu, vice president, China R&D, Covidien. "This fusion of expertise among healthcare professionals, students, scientists and engineers will be further reinforced by the cutting-edge capabilities of our new R&D facility, bridging clinical knowledge, market understanding and technical innovation.”
Wang Xin Pei, deputy director of Shanghai Municipal Commission of Commerce, added, “The Chinese Healthcare industry is on a fast track of development. The Ministry of Commerce, Ministry of Health and Ministry of Science and Technology all launched specific policies to boost the medical device industry—and the key word is innovation. We are looking forward to Covidien providing more innovative technology and products to meet the local market demand.”