Welcome to our dedicated page for Koninklijke Phil news (Ticker: PHG), a resource for investors and traders seeking the latest updates and insights on Koninklijke Phil stock.
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) has launched its FDA 510k-cleared real-time 3D intracardiac echocardiography (ICE) catheter, VeriSight Pro, which aims to enhance the standard of care in structural heart disease and electrophysiology procedures. This innovative catheter minimizes the need for general anesthesia, streamlining workflows and expanding treatment options. Used alongside the Philips Premium Cardiology Ultrasound System (EPIQ CVx), it provides superior imaging capabilities, optimizing procedure efficiency while reducing risks associated with traditional imaging methods.
Royal Philips (NYSE: PHG) announced the adoption of its cloud-based enterprise imaging solutions by Children's Hospital & Medical Center, enhancing patient care and clinical outcomes. This collaboration focuses on improved diagnostics through advanced visualization, efficient workflows, and decision support analytics. The scalable, vendor-agnostic platform will improve interoperability, aiding clinicians with comprehensive patient data. Additionally, Children's is set to implement Philips PerformanceBridge for workflow optimization.
Royal Philips (NYSE: PHG) has developed a revolutionary cardiac MRI technique that reduces scan time from about one hour to less than one minute. This advancement, validated through clinical trials with over 100 patients, is designed to enhance patient comfort, increase access to care, and reduce healthcare costs. The new method, termed Enhanced SENSE by Static Outer-volume Subtraction (ESSOS), can be implemented on existing MRI scanners. Results indicate that the new protocol achieves equivalent diagnostic accuracy while minimizing patient discomfort during examinations.
Philips has initiated the DEFINE GPS study, a global trial involving 3,200 participants across 100 sites, aimed at evaluating patient outcomes in PCI procedures directed by instantaneous wave-free ratio (iFR) data. The study compares iFR-guided interventions versus standard angiogram methods. Notably, the guidelines support physiological measurement use, like iFR, during PCI. This trial follows the DEFINE PCI study, aiming to improve treatment outcomes and cost-effectiveness, highlighting Philips' commitment to advancing healthcare technology.
On June 14, 2021, Philips announced a voluntary recall of specific Bi-Level PAP, CPAP, and mechanical ventilator devices due to potential health risks associated with the polyester-based polyurethane foam used in these products. The recall affects first-generation DreamStation devices, where foam degradation may lead to harmful particles entering the air pathway. Philips has initiated corrective actions including repair and replacement programs, while projecting an additional EUR 250 million in costs. Despite this, the company expects its overall growth guidance for 2021 to remain unchanged.
Royal Philips (NYSE: PHG) announced the exchange ratio for its 2020 dividend, set at 1 new share for every 53.9278 existing shares. This ratio was determined based on a volume weighted average price of EUR 45.8086 from early June 2021. Shareholders had the opportunity to choose between cash and shares until June 4, 2021. 37.7% opted for a share dividend, resulting in 6,345,968 new shares issued. The cash and share dividends will be payable from June 9, 2021. Philips anticipates a reduction in issued shares by year-end 2021 due to share repurchase programs.
On June 7, 2021, Philips (NYSE: PHG) presented its vision for digital transformation in healthcare at the HIMSS and Health 2.0 European Congress. The company showcased scalable, interoperable informatics solutions designed to enhance clinical decision-making, improve patient outcomes, and reduce care costs. Philips emphasized the rising importance of telehealth, as nearly two-thirds of healthcare leaders prioritize investments in this area. Key themes included Healthcare Anywhere, Digital Transformation, and Precision Care, highlighting Philips' robust solutions aimed at optimizing healthcare delivery.
On June 7, 2021, Philips (NYSE: PHG) and Elekta announced an extended strategic partnership to enhance cancer care through precision oncology solutions. This collaboration aims to improve patient outcomes by offering integrated systems for clearer diagnosis and treatment pathways. Notable benefits include quicker visualization of tumors, optimized treatment strategies, and reduced therapy costs. The partnership focuses on leveraging each company's strengths to enhance interoperability between their systems, ultimately striving for better cancer care delivery.
Royal Philips (NYSE: PHG) announced positive results from the Tack Optimized Balloon Angioplasty (TOBA) II clinical trial, demonstrating that its Tack Endovascular System provides sustained treatment effects over two years for patients with Peripheral Artery Disease (PAD) and Critical Limb Ischemia (CLI). Key outcomes include 73.6% freedom from clinically driven target lesion revascularization and 94.7% target limb salvage in CLI patients. The data, presented at the 2021 New Cardiovascular Horizons conference, highlights the significant clinical benefits and improved quality of life for patients treated with this innovative device.
Philips (NYSE: PHG) and Akumin Inc. announced a strategic collaboration to deploy Philips’ Radiology Operations Command Center across Akumin’s outpatient imaging network. This partnership aims to enhance access, quality, and productivity within Akumin’s operations, which involve over 130 outpatient imaging centers across seven U.S. states. The command center will standardize imaging procedures and improve clinical personnel productivity, addressing key radiology challenges. Both companies emphasize the potential for improved patient outcomes and operational efficiency through this innovative approach.