Getinge receives €160m from European Investment Bank to support developments in medical technology

Getinge, a Swedish medical technology company, has received a €160m loan from the European Investment Bank (EIB), to support its research and development in the areas of surgery, intensive care, infection control, care ergonomics and wound care. Getinge’s research addresses unmet medical needs and targets the development of safer and more efficient devices for increased positive outcomes for caregivers and patients.

Getinge aims to advance its technology in the fields of cardiac surgery, cardiology, intensive care and emergency medicine. Further developments will include anaesthesia machines, continuous glucose monitoring and operating tables.

Jonathan Taylor, EIB Vice-President with responsibility for lending in Sweden, said: 'We are pleased to be partnering with Getinge in this breakthrough operation as it enables the EU bank to support future technologies whose concrete applications will improve the health of European citizens.

'Projects such as this strengthen the competitiveness and boost the innovative capacity of European health-related industries and businesses, so enhancing Europe’s position as a major technology supplier and supporting skilled employment opportunities.'

The project backed by the EIB covers the entire research and development cycle from initial concept to clinical trials. It will be implemented until 2017 at research and development facilities in Germany, Sweden and France.

This is the first EIB operation in Sweden supported by a new generation of financial instruments for innovative and growth companies, InnovFin – EU Finance for Innovators, with the financial backing of the European Union under Horizon 2020.