Investment Plan for Europe: EIB lends up to €110m to Dräger for medical technology development

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  Fresh funds will support Dräger´s R&D investment programme
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  EIB financing provided under Investment Plan for Europe, or Juncker Plan

The European Investment Bank (EIB) will lend up to €110 million to Dräger, a global leader in the fields of medical and safety technology. Dräger will use the fresh financing to fund R&D projects in medical technology targeting life-saving systems such as anesthesia devices and ventilators. The efforts in medical systems will centre on developing and enhancing patient monitoring products, with a special focus on projects examining the connectivity of medical devices and linking them to hospitals’ information technology infrastructure. Dräger will be using the international new secure IEEE 11073 standard for medical device communication, which the company itself has helped to develop.

The EU bank’s loan is backed by a guarantee from the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe - the Juncker Plan - under which the EIB and the European Commission are working together as strategic partners and the EIB’s financing operations are boosting the competitiveness of the European economy.

European Commission Vice-President for Jobs, Growth, Investment and Competitiveness, Jyrki Katainen, said: “The products and systems that Dräger is developing are making our lives safer and healthier. From intensive care monitoring systems to premature infant respirators, this European company is creating groundbreaking innovations. With the financing of €110 million from the EU’s bank supported by the Investment Plan for Europe, Dräger can continue to push boundaries in medical technology.”

EIB Vice-President Ambroise Fayolle, who is responsible for operations in Germany and for EFSI, said: “We, as the Bank of the EU, have a vital role to play in creating the right conditions and the right incentives to foster a dynamic process of innovation and competitiveness - because both are key ingredients for ensuring sustainable growth and creating high-value jobs. I therefore very much welcome our cooperation with Dräger under the ‘Investment Plan for Europe´ as this clearly demonstrates what Europe can do for European business.”

“Innovation is a crucial factor for technology companies such as Dräger. We plan to use the funds to further expand our research and development activities,” said Stefan Dräger, Chairman of the Executive Board of Drägerwerk Verwaltungs AG. “We are working toward connecting medical devices to a system to improve clinical decisions. This development will lead to assisted therapy and ultimately hospital automation.”

Background information:

About the European Investment Bank

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

About Dräger. Technology for Life®

Dräger is an international leader in the fields of medical and safety technology. Our products protect, support, and save lives. Founded in 1889, Dräger generated net sales of around EUR 2.6 billion worldwide in 2018. The Lübeck-based company is represented in more than 190 countries and has more than 14,000 employees worldwide. Please visit www.draeger.com for more information.

About the Investment Plan for Europe

The Investment Plan for Europe, known as the Juncker Plan, is one of the European Commission’s top priorities. It focuses on boosting investment to generate jobs and growth by making smarter use of new and existing financial resources, removing obstacles to investment, and providing visibility and technical assistance to investment projects.

The European Fund for Strategic Investments (EFSI) is the main pillar of the Juncker Plan and provides first loss guarantees, enabling the EIB to invest in more projects that often come with greater risks. EFSI has already yielded tangible results. The projects and agreements approved for financing under EFSI are expected to mobilise almost €393bn in investments, including €32.9bn in Germany and support 945 000 SMEs in the 28 Member States.

More information on the results of the Investment Plan for Europe is available here.