RDIF and Philips agree to cooperate in the development of Russian healthcare

Press release, 09.10.2018

Moscow, October 9, 2018 - The Russian Direct Investment Fund (RDIF), a sovereign wealth fund of Russia, and Philips, a leading technology company specializing in the manufacture of medical equipment and consumer goods, plan to jointly implement investment projects to develop the Russian healthcare sector.

The parties intend to focus on modernization and supply of high-tech medical equipment to state hospitals and clinics in the Russian regions including joint participation in regional PPP projects in healthcare.

The partnership between RDIF and Philips will provide the regional healthcare customers with access to more flexible solutions for financing the use of innovative medical technologies in the field of diagnostics and treatment of a wide range of diseases, making a significant contribution to improving the quality of life of the Russian people.

An agreement was signed today on the sidelines of the Forum “Investing in Regions − Investing in the Future”. The event has been organized by RDIF and the Federation Council of the Federal Assembly of the Russian Federation with support from the Agency for Strategic Initiatives to Promote New Projects.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“The partnership with Philips will help introduce new technology to Russian medicine, improving the quality of life. Investing in healthcare is one of the priority areas for RDIF, and we are delighted to cooperate with the largest international manufacturer of medical equipment to achieve strategic goals to improve the health and well-being of Russian citizens. ”

Maxim Kuznetsov, CEO Philips Russia and Central Asia, said:
The combination of RDIF in-depth knowledge of investment projects and over a century of Philips experience in leading healthcare technology will help to create the most effective solutions and fully realize the potential of Russian healthcare. Through these joint efforts we aim to improve the efficiency and access of healthcare in Russia, including early diagnostics.”

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Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Further information can be found at www.rdif.ru

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips' health technology portfolio generated 2017 sales of EUR 17.8 billion and employs approximately 75,000 employees with sales and services in more than 100 countries. News about Philips can be found at http://www.philips.ru/newscenter

For additional information contact:
Arseniy Palagin
Russian Direct Investment Fund
Press Secretary
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
E-mail: arseniy.palagin@rdif.ru

Andrew Hayes / Andrew Leach
Hudson Sandler
Tel: +44 (0) 20 7796 4133