Medtronic opens Shanghai innovation center

International medical device producer Medtronic Inc announced on Tuesday the official opening of its innovation center in Shanghai, the company's first research and development facility outside the United States and Europe.

To serve the fast-growing Chinese healthcare sector, Medtronic will hire and train an additional 1,000 skilled staff over the next five years, hundreds of which will work toward the development of new medical technologies at the Shanghai innovation center, the company said.

The new innovation center will work closely with the company's global R&D teams, as well as local universities and research institutes and, more importantly, partner with Chinese physicians to create innovative solutions for patients, according to Omar Ishrak, Medtronic chairman and CEO.

"It allows us a unique opportunity to leverage local talent and expertise to increase our growth in China and link it to our larger global capabilities," he said.