A Chinese English-language newspaper, China Daily, is reporting that Medtronic (NYS: MST) 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% of Medtronic's international revenue, and China accounts for 40% of those emerging markets, confirmed Steve Cragle, a Medtronic spokesman.

"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% 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.

anImage

 

At the time this article was published The Motley Fool owns shares of Medtronic. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2011 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.


Increase your money and finance knowledge from home

Introduction to Preferred Shares

Learn the difference between preferred and common shares.

View Course »

Investing in Emerging Markets

Learn to invest in a globalized world.

View Course »

Add a Comment

*0 / 3000 Character Maximum