KONINKLIJKE PHILIPS N.V. - PHG STOCK NEWS

Philips has announced FDA approval for an enhanced 160cm version of its LumiGuide Navigation Wire, expanding the use of its Fiber Optic RealShape (FORS) technology in the US. This breakthrough allows clinicians to visualize a broader range of catheters in 3D and color during minimally-invasive surgeries, reducing reliance on X-ray imaging. The technology has now been used in 1000 procedures since 2020, with the latest milestone achieved by vascular surgeon Dr. Carlos Timaran during a complex aortic aneurysm repair. LumiGuide has shown to make procedures 37% faster and use 70% less X-ray imaging, significantly reducing radiation exposure for patients and medical staff.

Philips (NYSE: PHG) and the World Stroke Organization (WSO) have published a joint policy paper calling for a revolution in stroke care. The paper proposes six policy interventions to improve outcomes and reduce costs in stroke treatment. Key recommendations include expanding infrastructure for essential stroke services and mechanical thrombectomy, a highly effective minimally invasive procedure for removing blood clots in major strokes.

The paper highlights that stroke affects an estimated 12 million people globally each year, with direct and indirect costs around $900 billion annually. Despite proven treatments like mechanical thrombectomy, access remains For instance, only about 7% of ischemic stroke patients in Europe received this treatment in 2019.

The initiative aims to address the significant burden of stroke on patients, healthcare systems, and society by promoting coordinated investment in care, treatment, infrastructure, and effective policymaking.

Carilion Clinic is expanding its cardiovascular care capabilities with Philips (NYSE: PHG) innovations at its new Cardiovascular Institute in Virginia. The facility will feature 11 specialized Philips interventional suites, enabling local treatment of complex cardiovascular conditions. Philips' integrated ecosystem includes the Azurion Image-Guided Therapy System, EPIQ CVx cardiology ultrasound with AI capabilities, and IntraSight with SyncVision for imaging and physiology.

This technology offers reduced X-ray dose, improved workflow, and more efficient turnaround times. The collaboration aims to set new standards in cardiovascular care, providing Carilion's staff with world-class technology and ongoing clinical education. This expansion reinforces Carilion's commitment to delivering high-quality, patient-centered care in the region.

Carilion Clinic has announced the adoption of Philips' cardiovascular care ecosystem at its new Cardiovascular Institute at Crystal Spring Tower in Virginia. This includes 11 specialized Philips interventional suites, enabling treatment of complex cardiovascular conditions closer to home. The institute will offer state-of-the-art heart, lung, and vascular services, featuring advanced technologies like the Philips Azurion Image-Guided Therapy System and EPIQ CVx ultrasound system. These innovations aim to reduce X-ray doses, improve workflow, and enhance clinical confidence.

Additionally, Carilion will benefit from reduced maintenance complexity and ongoing clinical education for its staff. The new facility will also serve as a major referral center and the only Level 1 Trauma Center in the region, ensuring high-quality, patient-centered care.

Philips (NYSE: PHG, AEX: PHIA) and Isala hospital in the Netherlands have renewed their strategic partnership for five years, with an option to extend for another five. The collaboration, which began in 2012, aims to enhance healthcare delivery through innovative and cost-effective solutions, focusing on radiology and cardiology departments.

Key aspects of the partnership include:

• Utilizing Philips' technology to optimize processes and deliver more patient-centered care
• Integrating new technologies into hospital operations
• Replacing medical systems like MRI and CT scanners through a flexible multi-year plan
• Enhancing clinical adoption of new technologies such as AI
• Ensuring healthcare remains accessible, available, and affordable

This renewal underscores both parties' commitment to driving innovation and ensuring sustainable, high-quality healthcare delivery in the face of financial and personnel challenges.

Royal Philips (NYSE: PHG, AEX: PHIA) has announced a share repurchase program of up to EUR 125 million to cover obligations from its long-term incentive plans. At the current share price, this represents approximately 4.8 million shares. The repurchases will be executed through a combination of forward transactions and open market purchases with a financial institution.

Philips expects to take delivery of the forward share purchases in 2026, while open market purchases will be executed in Q3 2024 by an intermediary. All repurchases will comply with the EU Market Abuse Regulation and the authorization granted by the company's General Meeting of Shareholders on May 7, 2024. Updates on the program's progress will be made available through the company's website and press releases.

Philips reported strong performance in Q2 2024, with comparable sales growth of 2% to EUR 4.5 billion and order intake growth of 9%. The company's Adjusted EBITA margin improved to 11.1%, driven by productivity measures and operational improvements. Key highlights include:

- Income from operations of EUR 816 million, including EUR 538 million insurance income
- Operating cash inflow of EUR 89 million
- Strong performance in North America and mature markets
- Challenges in China due to government anti-corruption measures
- Reaffirmation of full-year 2024 outlook: 3-5% comparable sales growth, Adjusted EBITA margin of 11-11.5%, and free cash flow of EUR 0.9-1.1 billion

Philips continues to focus on enhancing execution, improving supply chain resilience, and increasing productivity through simplification of its operating model.

Royal Philips and Bon Secours Mercy Health (BSMH) have announced a multi-year strategic collaboration for patient monitoring. This partnership aims to reduce the digital burden on staff and provide more time for patient care across BSMH's 49 hospitals. The collaboration includes:

1. Access to Philips' latest monitoring innovations
2. A scalable patient monitoring platform integrating patient data
3. Standardization of patient monitoring across BSMH facilities
4. Cost reduction through a predictable payment model
5. A 10-year journey to transform care delivery

BSMH serves communities in seven U.S. states and Ireland, providing care to patients more than 11 million times annually. The implementation will occur over three years, followed by seven years of maintenance and updates, positioning BSMH at the forefront of healthcare technology.

Royal Philips announced the appointment of Ling Liu as the Chief Region Leader of Philips Greater China, effective immediately. Liu succeeds Andy Ho, who is retiring after a notable career. Liu joins the Executive Committee, reporting to CEO Roy Jakobs. She brings extensive experience in HealthTech and has held various roles within Philips since 1998, including Chief Commercial Officer in Greater China and Head of Finance in North America. This leadership change occurs as Philips celebrates its 100th anniversary in China and continues to focus on supporting China's national health strategy and local innovation.