Singapore: Medtronic, a medical technology company, officially opened its innovation center in Shanghai, China. The new facility, located in the company's China headquarters and the first outside the US and Europe, represents the company's initial step in creating local product research and development in China.

"Globalization is a key strategy and driver of growth for Medtronic. We have already accelerated our efforts to expand in emerging markets, including China, through additional investments in people and infrastructure, and the Shanghai Innovation Center is an example of our work to transform ourselves into a truly global organization," said Mr Omar Ishrak, Medtronic chairman and chief executive officer.

The Shanghai Innovation Center will work closely with the company's global research and development teams, as well as local universities and research institutes and more importantly, partner with Chinese physicians to create innovative solutions for patients. "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," said Mr Ishrak.

Simon Li, Medtronic vice president and president of Medtronic Greater China, was joined by local government officials, researchers, scientists, and medical experts, to inaugurate the facility.

"The Shanghai Innovation Center is another symbol of Medtronic's long term commitment to China, and it is a milestone in Medtronic's development in China," said Li.