A Chinese English-language newspaper — China Daily — is reporting that Medtronic (NYSE:MDT) is planning to double its workforce in the Asian nation in four years.
That will mean 2,000 employees will work at the Minnesota device maker’s Chinese operations in 2015. Job openings will be available on all fronts — from sales and marketing to research and development.
Emerging markets make up 60 percent of Medtronic’s international revenue and China accounts for 40 percent of those emerging markets, confirmed Steve Cragle, a Medtronic spokesman.
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“Emerging markets and the largest emerging market are absolutely important to our overall growth,” Cragle noted.
Earlier this year in March, Medtronic, which makes new innovative medical devices, opened a new regional headquarters building in Shanghai.
The Chinese article quoted Medtronic’s Jean-Luc Butel, executive vice president and group president of Medtronic International, saying that Medtronic aims to form new relationships with the Chinese medical device industry through joint ventures and M&A activity.
In 2008, Medtronic and Shandong Weigao Group created a joint venture with Medtronic holding a 51 percent stake. The joint venture was created to market Medtronic’s spinal products and Weigao’s orthopedic products, which include therapies for the hip, shoulder, spine and trauma in China.
