Philips Healthcare - Top 10 Medical Device R&D Budgets
Company: Philips Healthcare
Headquarters: Andover, MA
R&D spending fiscal 2011: $967 million
Priorities and Projects: The Dutch consumer products conglomerate poured $967 million into R&D for its healthcare division in fiscal 2011, up from $912 million in fiscal 2010 and $887 million in 2009. Its 2011 R&D spending focused on three areas, according to the company's 2011 annual report: imaging systems, patient care and clinical informatics.
Philips has also looked to emerging markets for some of those efforts. In June, for example, the company inked a deal with ROSATOM in Russia to license manufacturing of three nuclear medicine imaging systems. In November, the company gained 510(k) clearance for its Ingenuity TF PET/MR, its first commercially available whole body positron emission tomography/magnetic resonance imaging system. In Germany, the company is in an ongoing partnership with the German Federal Ministry of Education and Research to develop whole-body magnetic particle imaging systems and preclinical hybrid systems that blend both MPI and MRI technology.