Siemens and IISc sign an MoU to promote innovations in healthcare.
Story so far: Medical technology firm Siemens Healthineers and the Indian Institute of Science (IISc) signed a Memorandum of Understanding (MoU) to promote innovation in healthcare. On Wednesday, the med-tech major will lay the foundation stone for an innovation hub at Bommasandra Industrial Area.
- The hub will cost ₹1,300 crore and span over 75,000 sqft. Siemens expects it to be functional by 2025 and employ 1,800 people.
- Siemens will lend support to the anticipated multi-speciality hospital at IISc. They will be responsible for the hospital and other IISc medical schools’ biomedical equipment needs.
Why it matters? The collaboration between the two will promote healthcare innovations by expanding and equipping universities, hospitals, and industries. India is an important market for Siemens, and the innovation hub will be a state-of-the-art facility.