Royal Philips (NYSE:PHG) and the University of Vermont (UVM) Health Network today announced they will extend an existing strategic partnership by 10 years.
UVM will get Philips imaging systems, ultrasound, patient monitoring, and clinical informatics, and a range of clinical and business solutions and consulting services. The pact aims to help the UVM Health Network better integrate workflows for a more seamless patient experience, and to better predict costs, according to both parties. UVM operates six hospitals in Vermont and northern New York.
“By working together as a network, and relying on the most innovative technology, we will be able to provide the highest quality care to our patients in Vermont and Northern New York,” said UVM Health Network president and CEO Dr. John Brumsted in a news release. “Our continued partnership with Philips will help us better understand and care for our patients, wherever they come to us. Leveraging technology helps our clinical staff provide the best care at the bedside throughout the network.”
“The Philips and the UVM Health Network relationship has evolved into a true partnership with a common mission of improving people’s lives by transforming how care is delivered,” added Philips North America CEO Vitor Rocha. “Over the years we have built a level of trust that will allow us to work more collaboratively and understand how we can help the network break down data silos, giving staff access to information that can help them improve their already impressive level of patient care. Ultimately, we want to redefine the patient and staff experience, helping them to deliver the quality, cost-effective care their communities deserve.”
Several healthcare networks have entered long-term, strategic partnerships with Philips North America, the company said.