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Koninklijke Philips N.V. reports health technology developments across Diagnosis & Treatment, Connected Care and Personal Health. News from Royal Philips commonly covers order intake and comparable sales trends; product launches and regulatory clearances for imaging, image-guided therapy and AI software; and governance actions from its Annual General Meeting. Recent product themes include CT platforms such as Rembra and Spectral CT Verida, interventional guidance tools such as DeviceGuide and IntraSight Plus, and the Bridge Plus Occlusion Balloon for lead extraction procedures.
The company’s updates also address hospital monitoring, informatics, ultrasound, oral health and personal-care lines. Coverage reflects Philips’ role as a Netherlands-based global health technology company with securities traded on NYSE under PHG and on Euronext Amsterdam under PHIA.
Royal Philips (NYSE: PHG) announced promising results from the TOBA II BTK clinical trial, showcasing the Tack endovascular system's efficacy in treating below-the-knee arterial dissection following balloon angioplasty in patients with critical limb ischemia (CLI). The FDA-approved device demonstrated a remarkable 93.9% target limb salvage rate and 69.6% freedom from clinically-driven target lesion revascularization after three years. These results underscore the positive impact on patients' quality of life and suggest a new standard of care for CLI treatment.
Royal Philips (NYSE: PHG) released its Future Health Index 2022 report, surveying nearly 3,000 healthcare leaders across 15 countries. The report highlights priorities such as staff satisfaction (30% prioritizing retention) and predictive analytics adoption (56%). Despite recognizing data as an asset, 46% of leaders consider it a burden due to challenges like siloed data (51%). Additionally, addressing health inequality is now a focus for 25% of leaders, increasing from 12% in 2021. The shift towards sustainability is also notable, with 24% prioritizing it compared to just 4% last year.
Royal Philips (NYSE: PHG) announced on June 7, 2022, an exchange ratio for the 2021 dividend in shares of 1 new common share for every 27.3184 existing shares. This was based on a volume-weighted average price of EUR 23.1906. Shareholders could choose cash or shares from May 16 to June 3, 2022, with cash as the default option. A total of 44.5% elected for shares, resulting in the issuance of 14,174,568 new shares. Philips plans to deliver 19,571,218 shares through forward contracts and expects to cancel a total of 28,329,673 shares by year-end.
Royal Philips (NYSE: PHG) announced the appointment of Willem Appelo as Chief Operations Officer, effective October 1, 2022, succeeding Sophie Bechu. Appelo brings extensive experience in supply chain management from Johnson & Johnson and private equity firms. His role will focus on enhancing Philips' health technology solutions. Bechu, who has been with Philips since 2016, will assist in the transition until her retirement in January 2023. This leadership change underscores Philips' commitment to strengthening its executive team in the medical technology sector.
Philips Foundation announced its 2021 Annual Report showcasing its mission to provide quality healthcare to underserved communities. Over 17 million people benefited from 24 projects in collaboration with NGOs and community groups, doubling the previous year's figure. The foundation launched a new social impact investment vehicle to support early-stage social enterprises. It also initiated disaster relief efforts in response to the COVID-19 pandemic and the Ukraine crisis, reflecting its commitment to sustainable healthcare solutions for vulnerable populations.
Royal Philips (NYSE: PHG) is showcasing its innovations at EuroPCR 2022, enabling ultra-low contrast percutaneous coronary intervention (ULC-PCI). These solutions enhance procedure planning and patient safety by co-registering intravascular ultrasound and physiological assessment data onto angiograms, reducing iodinated contrast media use. This is particularly beneficial for patients at risk of acute kidney injury. The company aims to improve outcomes for complex patients through advanced imaging technologies, allowing for safer, more effective coronary interventions.
Royal Philips (NYSE: PHG) announced the international launch of EchoNavigator 4.0 at EuroPCR 2022. This advanced image-guided therapy solution enhances minimally-invasive treatment for structural heart disease by integrating real-time echocardiography and X-ray imaging. Key features include 3D anatomical modeling and transseptal puncture guidance, improving procedural confidence and precision. The product aims to address the rising demand for effective cardiovascular care amidst staffing shortages, ultimately supporting better patient outcomes.
Royal Philips announced the approval of a EUR 0.85 per share dividend at its 2022 AGM, reflecting its commitment to shareholder returns. The company appointed Herna Verhagen and Sanjay Poonen as new Supervisory Board members, while Paul Stoffels and Marc Harrison were re-appointed. The Advisory vote on the 2021 Remuneration Report has been noted, with Philips promising to engage with shareholder feedback for future reports. Other approvals included Ernst & Young as the auditor and the adoption of financial statements.
Royal Philips (NYSE: PHG) has received FDA 510(k) clearance for its new MR 7700 3.0T MR system, designed to enhance diagnostic imaging with exceptional performance and precision.
The system integrates AI features to streamline workflows, providing clinicians with capabilities to image multiple nuclei efficiently. Key benefits include up to 35% shorter scan times and improved signal-to-noise ratios, translating to enhanced patient care and lower operational costs.
Philips showcases the MR 7700 at the ISMRM annual meeting and focuses on its multi-nuclei capabilities to improve clinical pathways.
KONINKLIJKE PHILIPS N.V. has announced the results of its tender offers for its existing Euro Notes amounting to €1.5 billion. Valid offers were received for the 2023, 2024, and 2025 Euro Notes, with total amounts of €196.98 million, €224.54 million, and €154.47 million respectively. The company will accept these offers at prices above par, leading to a total settlement on May 10, 2022. Remaining outstanding amounts post-settlement include €303.02 million for the 2023 Notes and €275.47 million for the 2024 Notes, both of which are slated for redemption.