New center to spur medical innovation in China and across Emerging
SHANGHAI--(BUSINESS WIRE)--Aug. 2, 2012--
(NYSE: COV), a leading global provider of healthcare products, today
announced the official opening of its China Technology Center (CTC)
Research and Development (R&D) facility in Shanghai.
“Establishing this R&D facility in Shanghai reinforces Covidien’s
continued commitment to providing innovative new products that will help
healthcare providers worldwide improve patient care and extend
healthcare delivery to more people and more places,” said José E.
Almeida, Chairman, President and CEO of Covidien, who attended the
opening event. “China is a key market in our global strategy, and this
investment is a reflection of our strategic initiatives.”
With a total investment of US$45 million over a three year period, the
CTC will eventually employ more than 300 people. The facility spans more
than 100,000 square-feet (9,290 square meters), houses 17 laboratories
and has state-of-the-art surgical and simulation suites that enable
healthcare professionals to be actively involved in the medical device
design and development process.
The CTC has two core focus areas:
Design of Tailored Products –identify and develop products that are
customized to meet the needs of China and other Emerging Markets.
Discovery of Breakthrough Platforms in medical technology –utilize the
unique skillsets and expertise of employees in Asia to create and
develop new medical device technologies.
The new Shanghai facility will provide a focal point for developing
local Chinese talent and grooming the next generation of medical
innovators for the industry.
“By collaborating closely with local medical experts who use our
products, we can tailor devices to meet the demands of China and other
Emerging Markets,” said Dong Wu, Vice President, China R&D, Covidien.
“We are dedicated to improving patient outcomes, and we recognize the
immense potential of basing an R&D facility in Shanghai. This location
will help us tap into internationally renowned experts based here in
China, including world-class engineering talent. We believe this
collaboration will drive innovation in China and across the Emerging
Markets healthcare landscape.”
The CTC complements Covidien’s other operations in China, which include
10 commercial offices, a manufacturing center and training facilities
for healthcare professionals. The Covidien Clinical Institute (CCI)
offers training for healthcare professionals on the safe and effective
use of the latest medical devices and procedures, advancing clinicians’
expertise and improving patient outcomes. Additionally, partnership
programs with leading academic institutions in China help Covidien
nurture young talent and gather fresh ideas for the advancement of the
medical device industry.
“This fusion of expertise among healthcare professionals, students,
scientists and engineers will be further reinforced by the cutting-edge
capabilities of our new R&D facility, bridging clinical knowledge,
market understanding and technical innovation,” added Wu.
Underpinning Covidien’s commitment to developing healthcare in China is
the Company’s alignment of its plans with the Chinese government’s
healthcare agenda, outlined in the 12th Five-Year Plan.
Training at the CCI aligns with healthcare reforms to ensure that
medical devices are used safely and effectively as part of healthcare
infrastructure improvement. The capabilities of the new R&D facility
address the healthcare reform objective of strengthening product
technology to improve patient outcomes.
“The Chinese Healthcare industry is on a fast track of development. The
Ministry of Commerce, Ministry of Health and Ministry of Science and
Technology all launched specific policies to boost the medical device
industry – and the key word is innovation. We are looking forward to
Covidien providing more innovative technology and products to meet the
local market demand,” said Mr. Wang Xin Pei, the Deputy Director of
Shanghai Municipal Commission of Commerce, at Covidien’s opening
Covidien is a leading global healthcare products company that creates
innovative medical solutions for better patient outcomes and delivers
value through clinical leadership and excellence. Covidien manufactures,
distributes and services a diverse range of industry-leading product
lines in three segments: Medical Devices, Pharmaceuticals and Medical
Supplies. With 2011 revenue of $11.6 billion, Covidien has 43,000
employees worldwide in more than 65 countries, and its products are sold
in over 140 countries. Please visit www.covidien.com
to learn more about our business.
Michael Drury, 65 9788 0013
Communications & Public Relations, Asia
Hogseth-Gill, 65 9128 8078
Manager, Public Relations & Marketing
Lannum, CFA, 508-452-4343