Defense contracts: Philips Healthcare renews $77 million deal for patient monitors
March 25, 2011 by MassDevice staff
Royal Philips Electronics's healthcare unit exercises the second year of a supply contract for patient monitoring equipment for the military and government civilian agencies in return for $77.2 million in federal dollars.
Philips Healthcare added another year to its $77.2 million-per-anum deal from Uncle Sam for patient monitor systems.
The contract stipulates that the Royal Philips Electronics (NYSE:PHG) division supply patient monitors, training and spare parts to the Army, Navy, Air Force, Marine Corps and federal civilian agencies with a non-expiring option for renewal, according to the Dept. of Defense website.
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