Royal Philips (NYSE:PHG) said it inked a deal with digital health tech company Validic that will allow Philips to integrate personal health data from 3rd-party devices and apps into its platform of cloud-based HealthSuite programs.
The collaborative deal will help “expand the breadth and depth” of Philips health tech, including Personal Health Programs, Lifeline medical alert services, eCareCoordinator and eCareCompanion eHealth applications with external 3rd party data, the company said.
“Being able to deliver the best care requires that healthcare providers have a comprehensive view of each patient’s health condition. Increasingly, healthcare is moving beyond the walls of the hospital, enabled by connected devices to monitor both health and care. We can now take a next step by securely combining the data generated by someone’s glucose meter and fitness tracker with their clinical data, so that caregivers can discover relevant and actionable insights for new models of personalized health management of their patients. Our collaboration with Validic helps to accelerate this step,” Philips connected care and health informatics CEO Jeroen Tas said in prepared remarks.
Philips said that the deal with Validic will alter how it integrates consumer-generated personal health data from fitness wearables, remote monitoring devices and health apps, as well as blood pressure cuffs, health patches and glucose meters into its cloud-based health services.
“With a strong presence in both professional healthcare and consumer health spaces, Philips understands the global impact of people better managing and engaging with their health. They also recognize the industry need for making this remotely collected health data actionable for care providers. Philips and Validic share a similar vision on connected health and recognize the importance of leveraging digital health data collected outside of the clinical setting to improve the quality of care and patient outcomes,” Validic CEO Ryan Beckland said in a prepared statement.
Last week, Philips healthcare division released its Q4 and full-year 2015 earnings, reporting rising sales and profits.
The Dutch conglomerate, which is looking to deal its legacy lighting business and its Lumileds LED operation, said Philips Healthcare reported sales growth of 14.8% to $3.54 billion (€3.27 billion) for the 3 months ended Dec. 31, 2015. Adjusted earnings before interest, taxes and amortization grew 22.6% for the quarter, to $559.0 million (€516.0 million) compared with Q4 2014.
For the full year, Philips Healthcare reported sales growth of 18.8% to $11.82 billion (€10.91 billion) and adjusted EBITA growth of 17.0%, to $2.43 billion (€2.24 billion) compared with 2014.