
Philips Healthcare (NYSE:PHG) threw its support behind a long-term program to provide screening and preventative care to women in under-served areas of India after a pilot program proved successful.
The healthcare giant is joining forces with Indian regulatory authorities and international radiology non-profit organization RAD-AID to provide mobile breast cancer, cervical cancer and osteoporosis screening to women in rural and semi-urban areas of Northern India, The Financial reported.
India plays a large role in many medtech companies’ emerging market strategies, including for medical device monolith Medtronic (NYSE:MDT), which less than 2 months ago promised a $6 million investment into cardiovascular disease and diabetes research in India.
It’s also not Philips’ 1st foray into the country. Last month Philips announced plans to expands its marketing network in India and to provide more affordable equipment to hospitals.
The company’s latest collaboration, part of the volunteer-based "Asha Jyoti" program dedicated to providing access to education and healthcare to India’s needy populations, beat its 6-month benchmark of 500 women screened by a wide margin.
During the 1st 6 months of the program, which was initially launched in April, the mobile outreach program screened more than 600 women aged 40-60 years of age. 7 of women were given follow-up care for signs of breast cancer and 41 for suspicious colonoscopy results, according to the news source.
Given the success of the program, Philips signed on for a longer-term commitment to the program, providing free radiology equipment and the entire mobile van to support the program for another 4-5 years, during which time they hope to screen 3,000-4,000 women annually.
"At Philips, we consider our innovations in healthcare our commitment to improving and saving lives," Philips Healthcare senior vice president and chief medical officer Dr. Eric Silfen said in prepared remarks issued earlier this year. "We hope that our collaboration with RAD-AID can continue to grow, so that our solutions reach more under-served communities of the world and continue to support the future of healthcare."
PHG shares were up 0.7% in early afternoon trading, going for $25.83 as of about 1 p.m.
The Dutch conglomerate late last month posted results for its 3rd quarter, touting a double-digit sales boost and 124% growth in profits.