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Home Industry News Philips commits support to healthcare innovation fund

Philips commits support to healthcare innovation fund

20th August 2010

Philips has announced that it is to be one of the anchor investors for a new venture capital fund which aims to promote healthcare innovation in Europe and the US.

The company has become a part of the Gilde Healthcare III fund, which aims to accrue 200 million euros (163.8 million pounds) to support early and growth stage technology companies.

It is hoped that this independent fund will help to stimulate innovations in areas such as medical technology and patient-centric solutions, focusing on areas including home healthcare, sleep improvement techniques and new developments in cardiology and oncology.

Steve Rusckowski, chief executive officer of Philips Healthcare, said the move will bring the company closer to the venturing community.

He added: "Through our participation in the Gilde Healthcare III venture capital fund, we are taking another step forward in driving innovation in areas of strategic interest to Philips in healthcare."

This comes after Philips announced the purchase of Shanghai Apex Electronics earlier this month, a move which allows it to expand its offering of affordable ultrasound devices.ADNFCR-8000103-ID-800033696-ADNFCR

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