Medtronic Opens China HQ, Will Hire 1,000
Fridley-based Medtronic, Inc., on Tuesday announced the opening of its new regional headquarters in Shanghai, China-a move that will strengthen the medical technology company's presence in the country and result in new hiring.
The company cited China's rapidly growing health care sector as fodder for growth, and said that it will hire and train 1,000 additional staff members during the next five years.
“I am 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,” Chairman and CEO William Hawkins said in a statement. “We are in China in a position to even better fulfill the company's mission of alleviating pain, restoring health, and extending life in China.”
Medtronic said that it will invest in research and development, clinical studies, and manufacturing in China with the Shanghai building serving as the central office that connects to a network of other branches throughout the country.
The building also features a training facility, dubbed the Innovation Experience Center, that incorporates a virtual lab, future surgical and telemedicine rooms, and space for Medtronic employees and customers to work hands-on with new technologies.
News of the boost in China employees comes less than one month after Medtronic announced plans to reduce its global work force by 4 to 5 percent, or 1,500 to 2,000 positions during the fiscal fourth quarter.
Medtronic is Minnesota's seventh-largest company based on revenue, which totaled $15.8 billion in its most recently completed fiscal year.