Medtronic Strengthens Surgical Robotics Presence in Asia with New Robotics Experience Studio in Singapore

Sep 10, 2024 12:01 CST Updated 12:01

Medtronic

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Source: MedRobot; Editor: Sophia

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Recently, Medtronic opened in Southeast AsiaThe First Robotics Experience Studio, enhance the capabilities of Medtronic Customer Experience Center (MCXC) in Singapore.

On the opening day, Jacqueline Poh, Managing Director of the Singapore Economic Development Board, Sarah McGrath, Ambassador of the Embassy of Ireland in Singapore, Majid Kaddoumi, Senior Vice President and President of Medtronic Europe, Middle East, Africa, and Asia-Pacific (Eurasia), as well as healthcare professionals from the United States, South Korea, Singapore, and India attended the event.

# About MCXC

The establishment and operation of MCXC are part of Medtronic's efforts to expand its influence in the global healthcare field. By providing these cutting-edge resources and training, Medtronic not only helps professionals enhance their skills but also promotes the overall progress of the healthcare industry.

In 2022,Medtronic Launches Medtronic Customer Experience Center (MCXC) in Singapore, Leveraging Cutting-Edge Technologies Such as Extended Reality (XR), Augmented Reality (AR), Virtual Reality (VR), and RoboticsTo provide a richer interactive experience for healthcare professionals and patients.

▲ Image source: Company's official website

Extended Reality (XR):Covering Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR), allowing users to experience immersive environments beyond the limitations of traditional screens through devices such as headsets or smart glasses.

▲ Image source: Company official website

In 2019, Medtronic was already researching how to apply extended reality (XR) technology to various medical technology training programs. Dr. Crossley is using an experimental 3D simulator that incorporates extended reality (XR) technology to practice the implantation of the Micra™ pacemaker.

XR Function Utilizes Microsoft HoloLens and Software Developed by CAE Healthcare, EnablingDr. CrossleyAble to navigate within a virtual and beating heart.And the Micra™ Simulator is just one of Medtronic's 80 XR technology projects.

Augmented Reality (AR):AR technology enhances users' perception of the real world by overlaying digital information in their field of view.

AR can help doctors view the internal structure of patients during surgery, or help patients better understand their conditions and treatment plans.

▲ Image source: Company official website

Virtual Reality (VR):VR Technology Creates a Fully Virtual Environment for Users to Immerse Themselves In. In Medical Education and Training, VR Can Be Used to Simulate Surgical Procedures, Allowing Doctors to Practice Surgical Skills Without Risk.

▲ Image source: Company's official website

MCXC opened in November 2022, covering an area of 22,000 square feet.Can accommodate a large number of training and experiential activities. As of nowMedtronic has made significant progress in medical education and skill enhancement, training over 2,000 healthcare professionals (HCPs) in Asia and hosting nearly 1,400 training and experiential sessions.

The addition of the Robotics Experience Studio is an important feature of MCXC, providing healthcare professionals with a platform to practice and learn about robot-assisted procedures and artificial intelligence (AI) applications. This hands-on opportunity is essential for enhancing professionals' skills in these rapidly evolving fields.

# The Path to Intensifying Efforts in the Asian Market

Chinese Market

2024 marks the 35th year of Medtronic's development in China, where China is the second-largest single market for Medtronic globally.

Medtronic has approximately6,000Staff,12Regional Office, covering four major medical fields: cardiovascular, surgical and critical care, neuroscience, and diabetes.

As of March 2024, Medtronic has introducedMore than 700 typesInnovative products, and has built a full value chain layout from R&D, production, sales, training, after-sales service to investment funds.Including1 unitR&D Center,2 unitsInnovation Center andTop 5Production base.

Medtronic in 2005 inShanghai Establishes First Innovation Center, 2021The Second Innovation Center Settles in ChengduChina has become the only market in the world where Medtronic has two innovation centers.
These two major R&D centersare equipped with complete simulation training facilities, including operating rooms, catheterization labs, etc., providing clinical physicians with a more realistic surgical training experience through highly simulated environments and advanced software and hardware facilities, and training medical professionals on average every year.Approximately 15,000 person-times。
Besides, Medtronic has also established6 Plants, distributed in Shanghai, Changzhou, and Chengdu.

▲ Medtronic Signs Agreement with Lingang New Area

In October 2021, Medtronic signed an investment agreement with the Lingang Special Area, becoming the first multinational medical company to invest in Lingang. The initial investment in this factory is reported to be...Approximately 300 million RMB, for the research and development and industrialization of cardiovascular disease-related products.This is the first time Medtronic has invested in core business manufacturing in China.

In April 2023, the Medtronic Lingang Medical Technology Industrial Base held its completion ceremony and unveiling event at Life Blue Bay, and began the construction of its first production line.

▲ Medtronic Lingang Medical Technology Industry Base Completed

To date, the Medtronic China R&D Center has developed a total of 65 products, with more than 50 successfully launched in the market, and 23 achieving global sales.

Indian Market

In 2021, Medtronic announced the official completion of the expansion project of its Hyderabad center, which cost $160 million and aimed to make it the largest R&D center outside the United States.

In 2023, Medtronic Once AgainAn increase of approximately US$350 million (equivalent to approximately RMB 2.486 billion), to expand its Medical Engineering and Innovation Center (MEIC) in Hyderabad.

On March 1, 2024, Medtronic unveiled the Medtronic Engineering and Innovation Center (MEIC) in Hyderabad, India.

MEICFloor Space250,000Square feet, the center currently hasMore than 900 engineers, which will increase to1,500 employees。

On July 10, 2024, Medtronic announced the opening of a new global IT center at its Hyderabad, India facility.Medtronic announced an investment of $60 million (approximately 430 million RMB) in building a new IT center, which is expected to create around 300 job opportunities within the next three to five years.

The new IT center focuses on cutting-edge technologies such as cloud programs, data platforms, digital health applications, hyper-automation, and artificial intelligence/machine learning.

# Latest Quarterly Report

On August 20, Medtronic announced its first-quarter financial report for the fiscal year 2025.

Revenue is$7.9 billion (approximately 56.32 billion RMB), adjusted revenue was $8 billion, reported growth of 2.8%, and organic growth of 5.3%;

GAAP Net Income is$1.042 billion, GAAP diluted earnings per share (EPS) was $0.80; non-GAAP diluted earnings per share was $1.23.

Completion of Multiple Franchises, Accelerated Growth in Cardiac Ablation Solutions and Neuromodulation, Continued Strong Momentum in Spine, Structural Heart, and Diabetes.

# About Medtronic

Medtronic (Medtronic, NYSE: MDT) is a global leading medical technology company, founded in 1949, with its headquarters located in Minnesota, USA.

The company is committed to providing a variety of treatments and solutions for patients with chronic diseases, including pacemakers, insulin pumps, cardiac surgery equipment, and ENT devices.

Medtronic's products and therapies cover multiple fields, including cardiac rhythm disease management, coronary artery disease treatment, diabetes management, neuromodulation, spinal and orthopedic treatments, as well as surgical and monitoring solutions.

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