AsianScientist (Mar. 19, 2011) – Medtronic, Inc. announced this week the official opening of its new manufacturing facility, Medtronic Singapore Operations (MSO), to enhance the company’s manufacturing capabilities in the region.
In addition to the manufacturing facility, MSO will also serve as the Asia, International and ASEAN headquarters, as well as the center for Singapore sales operations.
The Singapore-based office will also house the heads of departments leading the Manufacturing, International Leadership, ASEAN Leadership and Emerging Countries Business Development teams.
Chairman and Chief Executive Officer, William A. Hawkins, was joined by Executive Vice-President and Group President of Medtronic International, Jean-Luc Butel, and Singapore’s Minister for Trade & Industry, Mr Lim Hng Kiang, as the Guest of Honour, to inaugurate the event.
“Cardiovascular disease is the world’s No. 1 cause of death. As a leader in the management of cardiovascular and other non-communicable diseases, we understand well the needs of patients and physicians and are leveraging all of our global capabilities to address this growing epidemic. We now have greatly increased our ability to ensure Medtronic’s innovative medical technologies will help patients across emerging Asian markets,” said Hawkins.
The Cardiac Rhythm Disease Management business at Medtronic accounted for US$5.2 billion of the company’s revenue in the 2010 Financial Year. By the end of 2011, Medtronic will have invested over US$56 million to the development of its MSO to meet the rising demand in Asia.
The Medtronic Singapore Operations is added on to Medtronic’s stable of more than 250 manufacturing facilities, sales offices, research centres, education centres and administration facilities which serve customers and patients in 120 countries.
Earlier this week, Medtronic inaugurated its new Chinese headquarters in Shanghai. As of November, China generates about $1.2 billion in annualized sales (about the equivalent of its quarterly CRDM revenue) and is growing about 20 percent a year, according to the company.
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Source: Medtronic, Inc.
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