Medical technology major Siemens Healthineers on Tuesday said it plans to invest EUR 160 million (Rs 1,300 crore) over the next 5 years to set up an innovation hub in Bengaluru.
The investment is part of Siemens Healthineers'' Strategy 2025, in which India plays an important role as a growth market for the company, the medical tech firm said in a statement.
"To better serve the needs of the emerging markets, we will invest EUR 160 million over the next 5 years in an innovation hub in Bengaluru in India," Siemens Healthineers Chief Technology Officer Peter Schardt said in a virtual press conference.
The innovation hub will be housed in a new state-of-the-art campus that combines existing research and development (R&D) centre and ultra modern medical imaging factory, he added.
"The innovation hub in Bengaluru is an integral part of our global network of innovation that will further accelerate our ability to develop effective solutions quickly and with a strong focus on emerging markets, especially in Asia," Schardt said.
The Bengaluru innovation hub will assume increased responsibility for customer-centric solutions to serve such markets even better. Special focus is on solutions for the digitalisation of healthcare, which is the foundation for value-based and patient-centered medicine within the region and across the globe, he added.
"To expand digital capabilities, we will hire up to 1,800 digital talents in the next 10 years," Schardt said.
Siemens Healthineers, Asia Pacific President Elisabeth Staudinger said, "This investment is the largest we have ever made in India. It will play a key role in taking our business to the next level by driving digitalization and expanding our 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, she added.
The Bengaluru campus will be one of four innovation hubs of the company, with other hubs located in the United States, Germany, and China, Siemens Healthineers said.
The innovation hub at 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, it added.
"Bengaluru is an ideal location for an innovation hub because of its strong innovation and healthcare ecosystems, coupled with reputed educational institutions," Siemens Healthcare Pvt Ltd Senior Vice-President (Development Center) and MD Gerd Hoefner said.
Currently, the company has around 2,400 employees in R&D in Bengaluru, he added.
The investment aims to make India a manufacturing centre for the company''s emerging market products, Siemens Healthineers said.
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