Covidien, a leading global provider of healthcare products, has inaugurated its new research and development (R&D) centre in India.
The company said it has doubled its R&D investments and introduceed more than 100 new products in the last five years and also plans to invest five to six per cent of its sales to R&D activities, pharmabiz.com reports.
The Covidien India Engineering Centre (CIEC) will provide engineering services including design, hardware, software and testing, while developing future products for Covidien’s R&D organisation .
TheCIEC, which is a 40,000 ft² facility located in DLF Cybercity Special Economic Zone (SEZ), Hyderabad, could expande its facility for the near future.
Covidien Indian Subcontinent MD Arjun Sarker said with a fast-growing economy, the demand for healthcare in India is growing at a rapid pace.
"Thus the establishment of this R&D facility will help expand Covidien’s presence and commitment to India," Sarker added.