Europese Investeringsbank en Philips sluiten leningsovereenkomst van 200 miljoen voor onderzoek en innovatie in medische zorg (en)
BEI/09/240
2 December 2009
European Investment Bank and Philips sign EUR 200 million healthcare R&D loan agreement
The European Investment Bank (EIB) and Royal Philips Electronics (AEX: PHI, NYSE: PHG) have signed a EUR 200 million loan agreement. The 10 year loan, provided under the Risk-Sharing Finance Facility (RSFF) will be used to finance research and development (R&D) activities across a range of innovative healthcare projects, including image-guided intervention and home healthcare, in Europe.
Philips will use the EUR 200 million loan from the EIB as part of its planned research and development investment in healthcare activities in Corporate Technologies. These R&D activities will be focussed on healthcare solutions such as image-guided intervention and therapy, home healthcare, and clinical decision support systems. The R&D will take place in an open innovation environment, collaborating with Small and Medium Enterprises (SME), research institutes and universities across Europe. Philips is the first company to receive EIB funding as a result of its efforts to fuel open innovation.
Simon Brooks, European Investment Bank Vice-President responsible for activities in the Netherlands noted that “The EIB looks forward to working closely with Philips, and indirectly with Medtech SMEs around Europe, to enable exciting healthcare research which leads to next-generation technologies and innovative clinical applications. We recognize Philips’ long-standing commitment to open innovation which has been instrumental, with the help of many of its R&D partners, to turn the Eindhoven region into a leading European science and technology hub.”
Rick Harwig, Philips’ Chief Technology Officer stated that “This strategic finance agreement demonstrates the EIB’s willingness to put its weight behind such important matters like open innovation while recognizing Philips’ leading role to drive this development, particularly in Europe. The EIB is an ideal financing partner especially as our R&D projects require long-term, sustainable commitment and funding.”
The subordinated loan is part of the EIB’s Risk-Sharing Finance Facility (RSFF), a EUR 10 billion facility, jointly developed by the European Commission and the EIB. The RSFF aims to stimulate research, development and innovation investment in European firms by providing long-term strategic financing for RDI over the period 2007-2013. The risk capital of EUR 2 billion that underpins RSFF is co-funded by the EIB and by the European Commission through The European Union’s 7 th Framework Programme for Research, Development and Demonstration.