SHANGHAI, Sep 15, 2011 (BUSINESS WIRE) -- Covidien /quotes/zigman/4475320/quotes/nls/cov COV -1.45% , a leading global provider of healthcare products, today announced the creation of its flagship research and development (R&D) center for China, which will be based in Shanghai.
The center, which will be fully functional by July 2012, will house two of Covidien's emerging market R&D organizations:
-- Tailored Products -- will identify and develop products that are customized to meet the needs of China and other countries in the emerging markets
-- Breakthrough Platforms -- will utilize the unique skill sets and expertise of employees in Asia to create and develop new medical device technologies.
"The establishment of this R&D facility is a first for Covidien in China," said Dr. Dong Wu, Vice President, China R&D, Covidien. "We will be undertaking a range of cutting-edge activities that will create innovative products to help physicians improve the health of the people of China and of other markets worldwide."
The 25-member R&D staff that Covidien currently employs in Shanghai will increase to more than 300 once the new 100,000-square-foot facility is completed.
"At the core of our R&D facility will be our Laboratory and Operating Theatre Simulation Suites that will enable healthcare professionals to visit the center and be involved in the actual design and development process of future medical devices," Dr. Wu added. "This collaborative approach will help us create products that are best suited to the needs of doctors in China and in other countries in Asia and, therefore, will be more likely to produce better patient outcomes."
To mark the establishment of the R&D facility, a memorandum of understanding was signed between Covidien and the Shanghai Caohejing Hi-Tech Park ("CHJ",aSaeu-ae 1/4-ae²³ae³ 3/4a 1/4EUR a'aOE).
"We are very pleased Covidien has chosen Shanghai and CHJ to be the base of the Company's inaugural R&D Center in China," said Mr. Enliang Gui, Vice President of Caohejing Hi-Tech Park and Chairman of Pujiang company. "We are very proud of our long-standing partnership with Covidien, which has also chosen our park as the location for both its regional training center for healthcare professionals and its commercial operations."
Mr. Alex Gu, Vice President and General Manager, Covidien China, said, "This R&D Center is the latest in a series of China-focused initiatives that clearly demonstrates our commitment to this very important market for Covidien. We look forward to a very successful future here."
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 2010 revenue of $10.4 billion, Covidien has 41,000 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.
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