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    Reference: 20090077
    Release date: 17 June 2009

    Promoter – Financial Intermediary

    Koninklijke Philips Electronics NV

    Location

    Description

    The project concerns the promoter’s RDI activities related to a highly innovative portfolio of medical device technologies. The portfolio consists of technologies in the earlier stages of development that are associated with high levels of technical and market risk. The project comprises sub-projects in five areas: “imaging systems & intervention”; “clinical care solutions”; “molecular & nuclear medicine”; “monitoring & personal health”; and “emerging market healthcare”. All the selected investments relate to small research ventures that have been organised in a separate R&D unit (“Corporate Technologies”).

    Objectives

    The aim of the project is first, to test the technical feasibility of the emerging technologies in new medical devices and, secondly, if successful, to take the more advanced devices closer to commercialisation. The exploratory nature of the ventures and their dependence on cross-fertilisation with third-party R&D requires that Philips, consistent with its “open innovation” approach, collaborates with research partners. Typical collaboration partners include academic research institutions, Contract Research Organisations (CROs), university clinics and – mostly smaller - companies. The R&D work is primarily located at Philips’ R&D centres at the High Tech Campus in Eindhoven (the Netherlands), and – to a smaller extent – in Hamburg and Aachen (Germany).

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 200 million.

    Total cost (Approximate amount)

    EUR 413 million.

    Environmental aspects

    The R&D activities encompassed under this project will not materially change current R&D practices and will be carried out within existing facilities, making use of existing laboratories, pilot plants, clinical centres etc. An EIA is therefore not required by EU Directive 97/11. Compliance of R&D activities with relevant EU legistlation in particular in regards of animal testing will be verified during the appraisal.

    Procurement

    The promoter is a private company not operating in the Utilities sector, and thus is not covered by the EU directive on procurement.

    Status

    Signed - 30/10/2009

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Germany The Netherlands Industry