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Philips

Philips Healthcare posts 7 percent Q1 sales gain

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Orders for equipment produced by Philips Healthcare rose in North America for the first time in 18 months during early 2010, as the Royal Philips Electronics (NYSE:PHG) division recorded just more than $1.8 billion in first-quarter revenues.

The 7 percent jump in sales, compared with year-ago levels, was driven by strong growth in Customer Services and Clinical Care Systems, although all business segments within the Andover, Mass.-based healthcare unit enjoyed higher comparable sales during the quarter. Sales outside North America grew by 16 percent, primarily in emerging markets, the Dutch company said.

Philips Healthcare wins $77 million Defense Dept. contract

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Philips Healthcare won a $77 million contract from the U.S. Dept. of Defense to provide its patient monitoring systems to the U.S. military.

The contract will see the Andover, Mass.-based unit of Royal Philips Electronics NV (NYSE:PHG) provide the systems, along with accessories, spare parts and training, to the U.S. Army, Navy, Air Force, Marine Corps and federal civilian agencies.

North American healthcare market continues to drag down Philips Healthcare

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The U.S. healthcare market continues to under-perform for Royal Philips Electronics (NYSE:PHG), Europe’s largest consumer goods company and the global leader in patient monitoring systems.

The Dutch company, which houses its U.S. healthcare division’s headquarters in Andover, Mass., reported that fourth-quarter sales dropped by almost 7 percent, to $3.4 billion, for its healthcare division during the fourth quarter, compared to $3.6 billion for the same period last year. However, despite slower sales, the division still reported strong bottom-line growth, posting a $452 million EBIDTA profit, compared to $343 million for the same period last year.

Philips warns on fetal monitors at FDA’s behest

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The Food & Drug Administration prompted Philips Healthcare (AEX:PHI) to issue a voluntary recall notice on four models of its Avalon fetal monitor after receiving complaints that the devices were providing inaccurate readings.

The Dutch company, which houses its U.S. headquarters in Andover, Mass., received numerous complaints about Avalon monitor models FM20, FM30, FM40 and FM50.