In 1989, Medtronic quietly introduced its products to the Chinese market through agents. However, despite possessing first-class equipment and technology and occupying the high-end market for medical devices, Medtronic has not yet reached the desired scale in a market that has been expanding for nearly 20 years. Undoubtedly, Medtronic will have to review its China strategy, such as investing more resources in the market, setting up an independent research and development organization, lowering prices, meeting local consumer demand, and better serving customers.
Medtronic, the world's leading medical technology company, launched the company's world's first innovative hemodialysis system development and production project in Chengdu's high-tech zone, to build Chengdu's first multinational medical device company manufacturing base. Once in production, the hemodialysis system products and key components produced at the base will serve the Chinese and global markets.
Medtronic has also set up a wholly owned subsidiary in Chengdu for manufacturing, product registration and market expansion. The design and development of the product is being fully advanced by Medtronic's global R&D team for the dialysis program, which is expected to be substantially completed in 2015 and put into production in 2016.