Philips invests in healthcare innovation

Philips has joined Gilde Healthcare III, a new venture capital fund focusing on innovative early and growth stage healthcare technology companies in Europe and the US.

Philips said in a statement that it is investing in Gilde Healthcare III in order to foster innovation in areas of strategic interest to its Healthcare business.

Philips holds a minority share in the fund and is being joined by other institutional financial investors. The Gilde Healthcare III fund has a target size of €200m (£164m) and will be managed by Gilde Healthcare Partners, a Dutch venture and growth capital firm that currently has more than €300m under management.

‘Over the past years the venturing community has been instrumental in bringing breakthrough healthcare innovations to the market,’ said Steve Rusckowski, chief executive of Philips Healthcare. ‘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.

‘At the same time we will become even more connected to the venturing community, which is an important element of Philips’ open innovation approach.’

Philips believes patient-centric healthcare is an emerging approach to healthcare delivery. Consequently, the Gilde Healthcare III fund will focus on home healthcare solutions, sleep improvement techniques, image-guided interventions/therapies and clinical decision support, with particular emphasis on cardiology, oncology and women’s health.