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Koninklijke Philips N.V., commonly known as Philips, is a Dutch multinational conglomerate corporation founded in Eindhoven in 1891. With its headquarters in Amsterdam since 1997, Philips remains rooted in Eindhoven where its Benelux headquarters is located. Philips is a diversified global healthcare company that operates across three primary segments: diagnosis and treatment, connected care, and personal health.
The diagnosis and treatment segment, generating roughly 50% of Philips’ revenue, includes imaging systems, ultrasound equipment, image-guided therapy solutions, and healthcare informatics. The connected care segment, responsible for about 30% of revenue, focuses on monitoring and analytics systems for hospitals, along with devices for sleep and respiratory care. The personal health segment covers the remaining revenue, with products such as electric toothbrushes and men’s grooming and personal-care items.
Philips’ recent achievements highlight the company's ongoing commitment to innovation and partnerships. In April 2024, Philips announced a collaboration with actor Adam Scott for a campaign promoting the Philips Norelco shaving and grooming line, emphasizing personal growth and self-expression. Furthermore, Philips has reached key agreements with the US Department of Justice and the FDA regarding regulatory consent decrees to improve safety and quality in their Respironics operations.
In terms of financial health, Philips reported sales of EUR 18.2 billion in 2023 and employs about 69,700 people worldwide. The company continues to expand its influence with strategic projects such as a 10-year collaboration with Nicklaus Children’s Health System to enhance pediatric care through advanced diagnostic technologies.
Philips remains focused on leveraging AI in healthcare. In June 2024, Philips introduced a next-generation AI-enabled cardiovascular ultrasound platform to streamline cardiac ultrasound analysis. Furthermore, studies presented at the Heart Rhythm Annual Meeting in Boston demonstrated the clinical and economic benefits of Philips' AI-powered cardiac care solutions, underscoring the company's role in improving diagnosis and reducing healthcare costs.
Philips is dedicated to maintaining robust investment-grade credit ratings and has recently priced EUR 700 million in fixed-rate notes. The company continues to optimize its financial structure while innovating in health technology, ensuring sustained growth and value creation for its stakeholders.
Royal Philips has completed its tender offer to acquire all outstanding shares of BioTelemetry for USD 72.00 per share in cash. The Offer, which expired on February 9, 2021, resulted in 27,182,062 shares being tendered, representing approximately 78.96% of BioTelemetry's outstanding shares. Following the merger, BioTelemetry will become a wholly owned subsidiary of Philips, with shares converting into cash payments, and will be delisted from NASDAQ.
Royal Philips (NYSE: PHG) has formed a 5-year strategic partnership with the Dutch SAZ group, comprising 28 hospitals, to advance connected care. This collaboration focuses on enhancing patient monitoring and self-management, incorporating Philips' technologies.
The initiative aims to shift care closer to patients' homes, reduce ICU readmissions, and improve health outcomes through early detection. Notably, projects in 2021 will include in-hospital applications and home monitoring for chronic conditions, leveraging the Engage platform for patient data management.
Royal Philips has launched the Philips Medical Tablet in North America, Europe, and Japan to facilitate remote patient monitoring during emergencies such as the COVID-19 pandemic. This portable device integrates with the IntelliVue XDS software, allowing clinicians to monitor multiple patients without being tied to central stations. The solution aims to improve workflows amidst increased patient volume and PPE shortages, enhancing safety for both patients and healthcare providers. With a focus on rapid deployment, the tablet is positioned to support hospitals adapting to the pandemic's challenges.
Philips Espresso has partnered with actor Justin Baldoni to encourage healthy daily routines through an Instagram giveaway. The contest, running from December 10 to December 12, will reward five winners with a Philips Espresso 3200 with LatteGo and $1,000 each. Participants share stories on Baldoni's Instagram post about someone in need of support. A study reveals that 59% of adults achieved more than expected in 2020, with coffee drinkers 73% more likely to succeed. Philips aims to inspire positive changes as people look forward to 2021.
Royal Philips (NYSE: PHG) announced a technical failure experienced by Euronext, which is affecting the accurate closing price for Philips shares on October 19, 2020. The company indicated that the closing price is expected to be close to EUR 42.305, which reflects the last recorded price during regular trading. Euronext is actively working to resolve this issue. Philips, a leader in health technology, reported sales of EUR 19.5 billion in 2019 and has a global workforce of approximately 81,000 employees.
Philips reported Q3 sales of EUR 5.0 billion, reflecting a 10% comparable sales growth, while income from continuing operations rose to EUR 341 million. The company's Adjusted EBITA margin improved by 300 basis points to 15.4%, and operating cash flow increased to EUR 770 million. Although comparable order intake declined by 18%, it increased by 3% when excluding a partial ventilator contract termination with HHS. Philips aims for average annual comparable sales growth of 5-6% from 2021–2025.
The DEFINE PCI study results reveal that iFR co-registration enhances patient outcomes post-PCI by identifying and treating residual ischemia more effectively than conventional angiography. Findings showed that 24% of patients experienced residual ischemia despite successful PCI, with 82% potentially treatable. Patients with optimal post-PCI iFR (≥0.95) had 68% fewer clinical events at one year, indicating significant improvements in survival and reduced angina. Philips continues to innovate with tools like OmniWire and the Azurion platform to advance interventional therapy.
Royal Philips (NYSE: PHG) has entered a seven-year strategic partnership with Mandaya Royal Hospital Puri in Indonesia, combining cutting-edge medical technologies and solutions. This partnership aims to deliver world-class healthcare services through advanced imaging and monitoring systems. Opening in early 2021, the hospital will feature over 350 beds, advanced medical centers, and a capacity to serve over a thousand patients daily. Philips' integrated solutions will enhance patient outcomes and experience while supporting Indonesia's healthcare goals.
Royal Philips (NYSE: PHG) has partnered with LeQuest to offer online interactive training for the Philips Ultrasound Affiniti system. This innovative e-training allows medical staff to practice with realistic simulation scenarios at their convenience, minimizing operational downtime and enhancing staff onboarding. The Affiniti system is designed for efficient diagnosis with low operating costs, supporting various medical applications. The partnership aims to improve healthcare workflows and outcomes, particularly during the COVID-19 pandemic, promoting safe remote training and collaboration.
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