Philips will use the 10-year loan to finance its planned research and development investment in healthcare activities in Corporate Technologies, in Europe. These activities will be focused on healthcare solutions such as image-guided intervention and therapy, home healthcare, and clinical decision support systems.
The research and development will take place in an open innovation environment, collaborating with Small and Medium Enterprises (SME), research institutes and universities across Europe.
The RSFF, which is jointly developed by the European Commission (EC) and the EIB, aims to stimulate research, development and innovation investment in European firms by providing long-term strategic financing over the period 2007-2013.
The EC and the EIB each will provide up to €1bn. Through a leverage effect, this contribution will underpin the expected loans and guarantees by the EIB of approximately €10bn.