Medtronic plans market expansion in Latin America
Medtronic’s acquisition of Covidien will help the company expand in Latin America’s medical device market through capacity expansion and technology transfer. Medtronic is planning to develop facilities in Sao Sebastiao do Paraiso, Minas Gerais, and Ribeirao Preto in Brazil. The investment will increase Medtronic’s production capacity by 20% and create 1,000 jobs. The company is planning to launch six new devices in Brazil to expand its product portfolio. Growing demand for medical devices in Latin America will prove beneficial for Medtronic, which is currently focusing on the sales of medical devices for diseases such as cardiac failure, Parkinson’s and diabetes.