Covidien, a US-based manufacturer of medical devices and pharmaceuticals, has set up its first research and development centre in the country. “The Indian healthcare devices market is part of our focus on emerging markets. The Hyderabad centre will enable us to improve product time to market and create valued-innovation,” Mr Robert Frechette, Vice-President (Engineering Services), told newspersons after the inauguration of the centre here on Thursday. The value of the Indian medical devices market is estimated at $4 billion, and is clocking a growth rate of 15 per cent annually , he added.
