European medical technology industry lobby Eucomed launched its 5-year strategy for the future of the European health care system today at the Economist Intelligence Unit’s med-tech forum.

The report, "Contract for a Healthy Future," highlights ways Western Europe can future-proof its health care systems as demand grows and budgets shrink.

"We have to rethink our healthcare systems in Europe and steer them back onto a sustainable path." said Eucomed chairman Guy Lebeau in prepared remarks. "As an industry, innovation has always been at the heart of what we do. But the future will demand a different kind of innovative thinking from all stakeholders in our economies. We will take the first step and deliver value-based innovations that deliver a demonstrable positive return on investment in healthy life years for citizens."

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Last year, Eucomed inked a deal with U.S. med-tech industry association AdvaMed to have consistent transparency and ethical standards across international borders. 

AdvaMed and Eucomed each have separate ethics codes, but share principles on clinical legitimacy, transparency, independence and the propriety of relationships between companies and healthcare providers.