Fresh off announcing its new Chinese headquarters in Shanghai, Medtronic has officially opened its manufacturing facility, Medtronic Singapore Operations. According to the company, the facility will help it meet future demand for cardiac devices in Asia.
"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," said Medtronic Chairman and CEO William Hawkins. "That is why our manufacturing investment in Singapore is so important. We now have greatly increased our ability to ensure Medtronic's innovative medical technologies will help patients across emerging Asian markets."
As of this November, Singapore will also serve as the distribution hub for the Asia-Pacific region. The new facility, which began operations in January, will allow Medtronic to respond more effectively and efficiently to the needs of customers and patients with cardiac rhythm disorders.
The Singapore facility will employ more than 120 people by the end of the year, reports Channel News Asia. According to research firm Frost and Sullivan, annual sales of medical devices in Asia-Pacific will total about $6.3 billion by next year, accounting for a quarter of the global total.
- get the Medtronic release
- read the Channel News Asia report