Company: Philips ($PHG)
Headquarters: Andover, MA
Med Tech R&D budget 2012: $1.03 billion

The bottom line: The healthcare division of the Dutch consumer products conglomerate hit the billion-dollar mark in R&D spending for 2012, essentially flat over 2011's figure but still higher than the $926 million in med-tech-related R&D spending in 2010. It's a robust spending level that reflects continued growth in the section of the company that includes imaging equipment, ventilators and a number of hospital-related medical devices. R&D projects include partnerships with companies such as InfraReDx to develop an enhanced high-tech catheterization lab, and a deal with Sweden's Elekta to develop a single MRI-guided radiation therapy system, blending MRI with precise radiation delivery.

For more:
Philips Healthcare sales stepped up solidly in Q4
Philips, Infraredx partner on enhanced cath lab project