MASSDEVICE ON CALL — Global healthcare titan Royal Philips Electronics (NYSE:PHG), which has a sizable footprint in the medtech world, is considering a formal name-change to better illustrate the diversity of the company’s businesses.
During the next shareholder meeting, slated to take place May 3, the company will propose changing its name officially to Koninklijke Philips N.V., or Royal Philips, according to a regulatory filing.
"Philips is a diversified technology company focused on delivering meaningful innovation in healthcare, energy-efficient lighting and consumer health and well-being," Philips CEO Frans van Houten said in prepared remarks. "Our innovative products, systems and services help improve the lives of billions of people. We believe having Royal Philips as our new company name, will position us well in our endeavor to make the world healthier and more sustainable."
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