India, 12th June 2024 – In a landmark move set to bolster the medical technology landscape in India, Olympus Corporation, a global MedTech leader, has announced its strategic initiative to establish a Research & Development (R&D) Offshore Development Center (ODC) in Hyderabad. This decision follows a strategic agreement with HCL Tech, aimed at expanding Olympus’ innovation generation activities globally.
The announcement was made during a high-profile meeting between the Honourable Mr. D. Sridhar Babu, Minister of Information Technology, Electronics & Communications (ITE&C) and Industries & Commerce (I&C) of the Government of Telangana, Honourable Mr. Komatireddy Venkat Reddy, Minister for Roads and Buildings and Cinematography of the Government of Telangana and Mr. Syed Naveed, Global Senior Vice President, Research & Development, Olympus Corporation in USA.
Given the significance of the investment, the meeting also saw the virtual participation of Mr. Andre Roggan, Chief Innovation Officer at Olympus Corporation, joining from Tokyo, Japan. Special Chief Secretary Jayesh Ranjan IAS, Consul General of India in New York Binaya Srikanta Pradhan and other senior state officials were also present as a part of the visiting delegation.
Minister Sridhar Babu is leading a delegation in the United States of America to attract ing investments to the state of Telangana. The government of Telangana had earlier hosted senior leadership of Olympus Corporation during BioAsia 2024.
Minister Babu expressed his enthusiasm, stating, “We are thrilled that Olympus Corporation, one of the world’s largest medical devices companies, has chosen Hyderabad for its first investment in India with an R&D center, marking a significant milestone for our city’s medical devices ecosystem. With Hyderabad’s robust infrastructure, strategic location, and thriving community of innovative healthcare companies, this investment is poised to be a game-changer for the medical devices sector in India.
I met them during BioAsia 2024 and assured them of the government’s full support. It is heartening to see that they have chosen Telangana to enter India and we are confident that Olympus’ advanced technologies and expertise will significantly contribute to our vision of becoming a global hub for medical device innovation and manufacturing. I welcome Olympus Corporation to our ecosystem.”
Establishing this R&D ODC is a testament to Olympus’ commitment to leveraging global R&D talents and resources to drive advancements in medical technology. Hyderabad, renowned as India’s MedTech hub, provides the ideal environment with its rich talent pool and established infrastructure for research and development activities necessary for Olympus’ expansion efforts.
Concurrently, Olympus is preparing for the establishment of an in-house R&D center in India in the coming years, adding to its existing R&D centers in Japan, the United States, and Europe. This move signifies Olympus’ strategic long-term commitment to India and its confidence in the country’s growing MedTech capabilities.
In addition to the creation of the ODC, Olympus will collaborate with AIG Hospitals, Hyderabad, on joint research projects. This partnership aims to leverage clinical expertise and insights from one of India’s premier healthcare institutions to drive the development of innovative medical solutions that address the evolving needs of patients worldwide.
Since establishing Olympus Medical Systems India Private Limited in 2009, the company has continually expanded its operations in India, achieving significant growth with the support of its many stakeholders. These strategic initiatives not only reinforce Olympus’ commitment to advancing medical technology but also strengthen its global footprint and enhance its ability to deliver impactful healthcare solutions.
Mr. Andre Roggan, Chief Innovation Officer at Olympus, commented, “It is with great pleasure and excitement that we announce this agreement with HCL Tech, with whom we share a decade-long partnership in core engineering and R&D services. I am confident that our collaboration will enhance Olympus’ engineering capabilities and unlock new innovations that enable quality healthcare through technology.”