Stryker Sets Up Global Technology Center in India

Stryker Corporation, leading medical technology companies, has announced the launch of its ‘Global Technology Center ’ in Gurgaon, India. The Center, Stryker’s first in Asia Pacific, will focus on next generation technologies and high-end products to accelerate innovation of medical devices. To further strengthen its presence in the Indian market, Stryker has already started implementing plans to expand its sales and service operations to over 15 markets in India by end of 2007. These areas include Kanpur , Bangalore , Hyderabad , Coimbatore , Cochin , Bhubaneswar , Patna and Guwahati among others. Cutting across segments, it will be Stryker’s first R&D center to conduct product development across all nine categories that it operates in rather than focusing on one area. Stryker currently conducts R&D in 20 centers worldwide. The technology center will also function as a global talent hub for Stryker operations across the world. Stephen P Macmillan, CEO and President, Stryker inaugurating the Global Technology Center said, “According to recent estimates, the addressable medical device market for Stryker in India is valued at over $160 million and growing rapidly. This highlights the significant potential that the market offers to Stryker, which has been in the forefront of creating innovative products in healthcare.” He added, “India was the obvious choice for setting up the technology center by virtue of the technical expertise and skill available, which will enable discovery of technology solutions at a fast pace.” The Technology Center will direct its R&D activities towards key areas such as joint replacement, trauma, and spine applications; general surgical, neurologic, ear, nose and throat, patient handling, and interventional pain equipment; endoscopic, surgical navigation, communications and digital imaging systems. Last year alone, Stryker invested over $300 million for research and development globally. Elaborating on Stryker’s India plans, MacMillan added, “ India is a key market for Stryker and we are making significant investment in infrastructure, technology and people by way of the Global Technology Center . We are confident that the center will play an important role to bring latest and cost-effective medical devices to the world.” With a focus to build technical expertise in this field, Stryker plans to invest heavily in the process of ‘knowledge transfer’. Stryker will continue to facilitate visits of internationally acclaimed surgeons to India.