Getinge secures EUR 160 million loan from EIB for development of new medical devices

The European Investment Bank (EIB) has provided a EUR 160 million loan to Getinge AB, a global medical technology company, for 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 new devices with higher efficiency and safety for increased positive outcomes for both caregivers and patients.

In particular, the company aims at advancing its technology in the fields of cardiac surgery, cardiology, intensive care and emergency medicine. Further development will concern the area of critical care and surgical workplaces, including anaesthesia machines, continuous glucose monitoring and operating tables.

Jonathan Taylor, EIB Vice-President with responsibility for lending in Sweden, stated:

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 EU bank covers the entire research and development cycle from initial concept to clinical trials. It will be implemented until 2017 at the promoter’s research and development facilities located in Germany, Sweden and France, thus safeguarding the opportunities for the skilled workforce in these countries. Given Getinge’s collaboration with universities and public research programmes, the knowledge acquired through the research activities will also be widely disseminated across Europe.

This is the first EIB operation in Sweden supported by the 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. The “InnovFin Large Project” facility is specifically dedicated to improving access to risk finance for research and innovation projects originating from larger firms in the European Union.