Medtronic opens new regional headquarters in Shanghai

10-Mar-2011 - Last updated on 10-Mar-2011 at 11:30 GMT

Medtronic, the US-based medical technology firm, has officially opened its new regional headquarters building in Shanghai, China.

The Minneapolis company has maintained smaller offices in Shanghai since 1996, but the new purpose-built facility represents its first permanent home in the region. Medtronic said the building symbolised its commitment to further its localised product development and manufacturing operations in China.

Chairman and CEO of Medtronic, William Hawkins, attended the opening ceremony and said: “I'm very glad to see Medtronic has a permanent home in China, which means we will have a higher-level platform for future development in the region.

“We are in China in a position to better fulfil the company's mission of alleviating pain, restoring health and extending life in China.”

Medtronic said the new facility will incorporate a state-of-the-art training facility called The Innovation Experience Centre. The centre will hire and train 1000 skilled workers over the next five years, which the company says will help it better serve what executive vice president, Jean-Luc Butel called the “ever growing China healthcare sector.”

Government award

Three months before the opening of the new building, the Shanghai government awarded Medtronic regional headquarters status. Simon Li, president of Medtronic Greater China said: “The regional headquarters status awarded by the Chinese government is a recognition for Medtronic's efforts and achievements in the past 15 years.

“The status and the opening of the new building is a milestone in Medtronic's development in China,” he added.

The Chinese government has recently relaxed the rules surrounding the approval of regional headquarters status, including significantly lowering the financial threshold for foreign enterprises seeking to establish headquarters in Shanghai from $30m (€22m) to $10m (€7m).

Investing in research

Medtronic said that establishing a base of operations in China marked an important stage in the process of expanding its services across the country.

Simon Li explained: “In the next five years, while continuing to strengthen service to customers and patients, Medtronic will also invest in R&D, clinical studies and manufacturing and will establish a modern service and manufacturing network, with Shanghai as the centre but with branches all over China.”