Siemens Healthineers, a global med-tech company, has recently announced it plans to invest ₹1,300 crores over the next five years in a new Bengaluru innovation hub. According to the news, this investment has been aimed at making India a manufacturing centre for the company’s emerging market products.
The company, headquartered in Erlangen, Germany, has stated that the innovation hub will be established in a new campus which will be composed of R&D as well as manufacturing. This is going to make India a centre of competence for the design and development of entry-level products.
Further to this announcement of the innovation hub, Siemens Healthineers is also planning to hire an additional 1,800 skilled digital tech experts to expand its digital capabilities in the next ten years.
In the company’s official statement, it was stated that this investment is the largest that the company has ever made in India. Elisabeth Staudinger, President Asia Pacific, said, that the investment will play a key role in taking the business to the next level by driving digitalisation and expanding the company’s portfolio for emerging markets.
The innovation hub in Bengaluru will demonstrate our commitment to advance healthcare through cutting edge digital technologies as well as through accessible and affordable innovations driven from India,” Staudinger further added.
According to the company, the innovation hub is currently expected to be completed in 2025, where the first phase of the new campus will include 70,000 square meters of office space for the enlarged R&D centre and 5,000 square metres of factory space.
The Bengaluru campus will be one of four innovation hubs of the company, with the other hubs located in the US, Germany, and China.
This innovation hub, to be established in Bengaluru will include centres of competence in digital technologies such as data analytics, artificial intelligence, immersive technologies like augmented and virtual reality, user experience, and cybersecurity. The company has already invested about ₹2,500 crores in R&D in India.
With about 50% of all the software engineers in Siemens Healthineers, the existing R&D centre at Bengaluru plays a strategic role in developing cutting edge software products and platforms for all three segments of the company — imaging, diagnostics, and advanced therapies.