â€śChina is a key market in our global strategy, and this investment is a reflection of our strategic initiatives,â€ť added Almeida.
Over a three-year period, Covidien invested $45 million in the technology center, which will eventually employ more than 300 people.
The facility spans more than 100,000 square feet, includes 17 laboratories as well as state-of-the-art surgical and simulation suites that â€śenable health care professionals to be actively involved in the medical device design and development process,â€ť according to a release.
Covidienâ€™s R&D facility has two core focus areas, the design of tailored products and the discovery of breakthrough platforms in medical technology.
According to Covidien, the Shanghai facility will provide a focal point for developing Chinese talent and â€śgrooming the next generation of medical innovators.â€ť
â€śBy collaborating closely with local medical experts who use our products, we can tailor devices to meet the demands of China and other emerging markets,â€ť Dong Wu, vice president of Covidienâ€™s China R&D facility, said in a statement. â€śWe are dedicated to improving patient outcomes, and we recognize the immense potential of basing an R&D facility in Shanghai.â€ť
â€śThis location will help us tap into internationally renowned experts based here in China, including world-class engineering talent,â€ť added Wu. â€śWe believe this collaboration will drive innovation in China and across the emerging markets health care landscape.â€ť
Prior to the technology center, Covidien had a Chinese presence, including 10 commercial offices, a manufacturing center and training facilities for health care professionals. The Covidien Clinical Institute offers training on the latest medical devices and procedures to local health care professionals.
â€śThis fusion of expertise among health care 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,â€ť said Wu.