A formal agreement to set up the Philippine Biomedical Device Innovation Consortium (PBDIC) was sealed in a Memorandum of Understanding (MOU) signing ceremony during the 33^rd anniversary of the Department of Science and Technology-Philippine Council for Health Research and Development (DOST-PCHRD) held at Dusit Thani Manila Hotel on March 17, 2015.

Recognizing the need to develop affordable, safe, and reliable biomedical devices and products for research and development, the PBDIC aims to consolidate, design and implement activities that will support the biomedical device innovation ecosystem.

Some deliverables of the Consortium include monitoring inventory of available technologies, identifying gaps in biomedical device innovation and generating lab to market roadmap for Hospital Equipment and Biomedical Devices (HEBD) priority area under the National Unified Health Research Agenda (NUHRA).

The MOU was inked among representatives from the University of the Philippines System (UP), University of the East-Ramon Magsaysay Memorial Medical Center (UERMMMC), Technological Institute of the Philippines (TIP), Technological University of the Philippines (TUP), Ateneo de Manila University (ADMU), University of Santo Tomas (UST), De La Salle University (DLSU) and Mindanao State University-Iligan Institute of Technology (MSU-IIT).