More and more large medtech firms are looking to strategic investments to drive R&D, fill gaps in pipelines and expand their portfolios, but what are they looking for in these partnerships? Executives from Johnson & Johnson (NYSE:JNJ), Royal Philips (NYSE:PHG), Boston Scientific (NYSE:BSX) and Smith & Nephew (NYSE:SNN) spoke to an audience today about what they […]
Philips
Philips plans to boost healthcare investment as it sheds legacy lighting biz
Royal Philips (NYSE:PHG) said yesterday that it’s on track to spin off its lighting division next year, but forecast only “modest” sales growth for 2016. “Macroeconomic risks are increasing and as a result we expect modest sales growth in 2016,” CEO Frans van Houten said yesterday. Philips is in the process of separating its legacy lighting […]
Diabetes: Philips unveils data-collection app
Royal Philips (NYSE:PHG) said it collaborated with Netherlands-based Radboud University medical center to produce a digital application designed to collect and share data from patients living with type 1 diabetes. The application will allow users to connect to an online community of type 1 patients and can collect and connect data from electronic medical records and […]
Philips Health opens health “co-creation” center
Royal Philips (NYSE:PHG) said today it opened its 1st HealthSuite Labs co-creation center in Eindhoven, Denmark, aiming to spur digital healthcare development and innovations. The centers will allow healthcare experts and general practitioners to work together in teams, with patients as well as business experts from multiple fields, to co-create and implement integrated care solutions, […]
Philips Healthcare’s India chief takes over new emerging markets biz | Personnel Moves
Royal Philips (NYSE:PHG) has promoted its India managing director and CEO Krishna Kumar to a position managing its emerging healthcare business division, according to The Times of India. Kumar is slated to continue as managing director of Philips India division until December, at which point he will lead the development of consumer and profesisonal healthcare […]
Philips aims to take healthcare from hospitals into homes
(Reuters) — Royal Philips (NYSE:PHG) will emerge from its radical transition away from the lighting industry as a more profitable company focused on consumer healthcare, the head of the group’s personal health business told Reuters. The Dutch conglomerate, which is shedding its lighting business and LED components operation, aims to tap a growing market for consumer […]
ESC Congress 2015: St. Jude, HeartFlow tout FFR-guided PCI
The European Society of Cardiology Congress conference wrapped up this week in London. Here’s a roundup of news from the overseas meeting of interventional cardiologists, dominated by data on fractional flow reserve technology. FFR: St. Jude touts 5 year data showing long-term benefits St. Jude Medical (NYSE:STJ) released 5-year data from a trial comparing the use […]
Hospira, Philips win Defense Dept. contracts worth $68m
The Department of Defense said yesterday that Hospira (NYSE:HSP) and Royal Philips (NYSE:PHG) won contracts with the defense agency for $50 million and $18.8 million, respectively. Hospira won a contract with the Defense Logistics Agency for $50 million to supply the department with pharmaceutical products, the DoD said. Hospira topped 35 other companies vying for the competitive […]
Sales, earnings rise in Q2 for Philips Healthcare
Royal Philips (NYSE:PHG) said today that sales and earnings for Philips Healthcare, its largest division, rose at a double-digit clip during the 2nd quarter. The Dutch conglomerate said earnings before interest and taxes rose 17.7% to $243.0 million (€219 million), as sales grew 28.9% to $3.06 billion (€2.75 billion) for the healthcare business, compared with Q2 2014. […]
Philips, Profound Medical ink deal
Royal Philips (NYSE:PHG) said it signed a deal with Profound Medical to use Profound’s proprietary transurethral ultrasound ablation technology to treat prostate cancer patients in conjunction with Philips’ Ingenia and Achieva 3 tesla MRI systems. Profounds ‘Tulsa’ system allows for a minimally invasive, whole-gland ablation of the prostate, which will be guided by Philips MRI machines, […]
Philips touts managed care data for COPD treatment
Royal Philips (NYSE:PHG) said today new research reports that non-invasive ventilation is a key part of a multi-faceted interventional approach to reduce readmission rates among chronic obstructive pulmonary disease patients. The study, supported by Philips and published in the Journal of Clinical Sleep Medicine, examined COPD patients hospitalized 2+ times a year who transitioned to […]