Welcome to our dedicated page for Koninklijke Phil news (Ticker: PHG), a resource for investors and traders seeking the latest updates and insights on Koninklijke Phil stock.
Koninklijke Philips N.V. (NYSE: PHG) is a global leader in health technology focused on improving lives through meaningful innovation. This news hub provides investors and healthcare professionals with centralized access to official press releases and verified updates about Philips' advancements in diagnostic imaging, connected care systems, and personal health solutions.
Discover timely information on product launches, regulatory milestones, and strategic partnerships that shape Philips' position in the healthcare sector. Our curated collection includes earnings reports, technology innovations, and market expansion announcements – all essential for understanding the company's trajectory in medical equipment and digital health solutions.
Key updates cover developments in AI-driven diagnostic tools, telehealth platforms, and sustainable healthcare initiatives. Bookmark this page to stay informed about Philips' progress in addressing critical challenges across radiology, cardiology, and home-based patient care through its integrated health technology ecosystem.
Royal Philips (NYSE: PHG) has announced an update regarding the recall of specific sleep and respiratory care devices due to potential health risks from a foam component. Most affected units are in the U.S., with over 80% being first-generation DreamStation devices. The FDA has authorized the rework of these devices to replace the problematic foam, with repairs expected to start in September 2021. Philips aims to complete this process within 12 months and has initiated replacement programs in other countries, enhancing production and outreach to affected patients.
Royal Philips (NYSE: PHG) announced the launch of its innovative digital experience at the European Society of Cardiology (ESC) 2021 Congress. The comprehensive suite of cardiac care solutions aims to enhance patient outcomes through early detection, accurate diagnosis, and efficient treatment. Philips emphasizes the growing challenge of cardiovascular diseases and highlights its leadership in integrated imaging, devices, and informatics. Key innovations showcased include the Philips Spectral CT 7500, advanced ultrasound technologies, and comprehensive cardiology informatics to improve clinical decision-making and efficiency.
Philips Sonicare has launched a unique partnership with NYC-based fashion brand Susan Alexandra to create a limited-edition travel accessory line. The collaboration focuses on self-expression with vibrant designs, featuring the Philips One by Sonicare toothbrush. The first product, a playful beaded lip charm, is available for $48, while additional items like a toiletry case and tote bag are set to launch in September 2021. This initiative aims to attract young adults prioritizing health and individuality in their travel routines.
Royal Philips (NYSE: PHG) launched two new HealthSuite solutions at HIMSS21, aimed at enhancing patient care through cloud-based technology. The Patient Flow Capacity Suite improves patient logistics and transitions across the care continuum by utilizing analytics for informed decision-making. The Acute Care Telehealth solution promotes flexible telehealth services, adapting to health systems' needs. These solutions support digital transformation, offering secure, connected care while reducing costs and resource strain.
Royal Philips (NYSE: PHG) is set to showcase its latest HealthSuite solutions during the HIMSS21 Global Health Conference from August 9-13, 2021, in Las Vegas. The new solutions focus on enabling digital transformation in healthcare, emphasizing collaborative care, precision medicine, and virtual care. A recent Future Health Index report reveals that 84% of healthcare leaders plan to invest in predictive technologies like AI within the next three years. Philips aims to support health systems in enhancing care quality and efficiency while addressing the quadruple aim of health outcomes, patient experience, and cost reduction.
On August 3, 2021, Philips announced a collaboration with NYU Langone Health to utilize the Philips Genomics Workspace for enhancing cancer treatment. This integration enables the industry's largest cancer sequencing test, the NYU Langone Genome PACT, which was recently FDA-cleared. The test analyzes 607 genes associated with various cancers, improving patient treatment decisions by utilizing next-generation sequencing (NGS) technology. Philips aims to facilitate seamless data sharing within the healthcare ecosystem.
In Q2 2021, Philips reported EUR 4.2 billion in sales, a 9% growth, despite a 15% decline in comparable order intake. The company’s income from continuing operations dropped to EUR 65 million due to a EUR 250 million provision for quality issues. Adjusted EBITA rose to EUR 532 million, up from EUR 390 million the previous year, achieving a margin of 12.6%. Philips announced a EUR 1.5 billion share buyback program to enhance shareholder value, though concerns about component shortages and COVID-19 impacts remain.
On July 21, 2021, Royal Philips announced that the FDA granted Breakthrough Device Designation for its laser-assisted inferior vena cava (IVC) filter removal device. This device aims to address the high failure rate of current IVC filter removal methods, beneficial for over one million U.S. patients. Independent studies indicate that laser-assisted retrieval has a success rate of 96-99% with minimal adverse events. The FDA's designation ensures Philips receives priority review, enhancing access to innovative medical technology aimed at improving patient care.
Royal Philips (NYSE: PHG) and Cognizant (Nasdaq: CTSH) have announced a strategic collaboration to enhance healthcare solutions through digital health platforms. The partnership combines Philips HealthSuite, a cloud-based system, with Cognizant’s engineering expertise to improve patient care and accelerate clinical trials. Over 100 medical devices are integrated into HealthSuite, which securely stores data while providing advanced analytics and AI capabilities. This alliance aims to address fragmented technology in healthcare, ensuring better connectivity between patients and providers.
