Koninklijke Phil Stock Price, News & Analysis

Philips Sonicare has launched a new microsite in collaboration with Spotify to encourage users to dedicate two extra minutes for self-care, specifically during their toothbrushing routine. Users can access custom playlists tailored to their music preferences to enhance their daily rituals and have a chance to win three months of free Spotify Premium and a discount on Philips products. The initiative aligns with the recommended two-minute brushing cycle and runs until November 30, 2022.

On October 12, 2022, Royal Philips (NYSE: PHG) provided a financial update for Q3 2022, highlighting a significant impact from supply chain challenges. Group sales are projected at approximately EUR 4.3 billion, marking a 5% decline. The Diagnosis & Treatment segment anticipates a low-single-digit decline, while Connected Care expects a mid-teen drop. A EUR 1.3 billion goodwill impairment charge for the Sleep & Respiratory Care business is expected due to revised forecasts. Philips aims for a better second half of 2022, despite ongoing supply chain disruptions.

On October 10, 2022, Philips received the prestigious gold-level Touchstone Award from the Center for Health Design for its innovative Ambient Experience behavioral health rooms at Children's Medical Center Dallas. This solution enhances care for pediatric patients experiencing behavioral health issues by integrating technology to improve staff-patient interactions. The recognition follows multiple other awards for the design, underscoring Philips' commitment to enhancing healthcare delivery through evidence-based design. The solution aims to de-escalate challenging behaviors and improve overall patient experience.

On September 30, 2022, Royal Philips (NYSE: PHG) announced the appointment of Roy Jakobs as the new President and CEO, effective October 15, 2022, succeeding Frans van Houten. The Supervisory Board expressed confidence in Jakobs’ ability to drive the company’s focus on health technology and improve shareholder value. Van Houten reflected on his 12-year tenure and expressed gratitude towards his colleagues. Jakobs emphasized his commitment to innovation and transparency as he prepares to lead Philips into its next chapter.

Philips Sonicare has partnered with actress Marsai Martin as its first Come Back Coach to promote the importance of self-care, particularly through oral hygiene. Martin emphasizes the role of a confident smile in self-esteem and encourages the use of Philips One by Sonicare electric toothbrush. This toothbrush is designed for effective daily routines, featuring a SmarTimer™ and Quadpacer. Priced from $24.99, it is available in various colors. A survey reveals 93% of Americans are seeking self-improvement, with 83% focusing on oral health.

Royal Philips (NYSE: PHG) presented its latest innovations in cardiology at the Transcatheter Cardiovascular Therapeutics (TCT) annual meeting held in Boston from September 16-19, 2022. Key highlights include global consensus data advocating the use of intravascular ultrasound (IVUS) for peripheral vascular disease procedures. Philips emphasized the importance of its technology in improving patient outcomes and efficiencies in clinical settings. Notable products showcased include the VeriSight Pro catheter and the EchoNavigator 4.0 imaging system, enhancing diagnostic and therapeutic capabilities in cardiac care.

Philips has announced the upcoming launch of FetView, a cloud-based fetal ultrasound image sharing software designed for obstetrics and gynecology. This vendor-neutral platform will allow physicians to access ultrasound images and patient data in real-time, promoting enhanced diagnostic confidence and better patient communication. FetView aims to streamline workflows, improve departmental efficiency, and reduce costs by enabling secure sharing of medical data. The software will be showcased at the ISUOG World Congress from September 16-18, 2022, in London.

Philips Foundation, RAD-AID International, and Philips have announced a multi-year partnership to enhance access to diagnostic ultrasound services across 10 countries, targeting 50 million people. The initiative will utilize a 'train-the-trainer' model to educate local health workers through real-time distance learning and simulated procedures. This collaboration focuses on improving healthcare in underserved regions by deploying ultrasound devices and providing remote training to address gaps in diagnostic imaging.

Zylorion Health Inc. has announced the appointments of Jeroen Tas to its Board of Directors and Ted Goldstein to its Digital Health Advisory Committee. Tas, former Chief Innovation and Strategy Officer at Philips, and Goldstein, ex-Chief Artificial Intelligence Officer at Elevance Health, bring extensive experience in health technologies and bioinformatics. CEO Peter Silverstone expressed enthusiasm over their addition, highlighting their potential contributions to Zylorion's mission of delivering innovative therapies for mental health challenges, including MDD, TRD, and PTSD.