Koninklijke Phil Stock Price, News & Analysis

On September 14, 2020, Royal Philips (NYSE: PHG) announced ambitious Environmental, Social, and Corporate Governance (ESG) commitments for 2025, building on its previous 'Healthy people, Sustainable planet' program. Philips aims for 100% EcoDesign in new products, improve the lives of 2 billion people annually, and achieve CO2 neutrality in operations. Key targets include sourcing 75% renewable energy and increasing circular economy revenues from 15% to 25%. The company also emphasizes transparency in tax contributions and plans to improve labor conditions within its supply chain.

Royal Philips (NYSE: PHG) released its Future Health Index Insights survey focusing on younger healthcare professionals during COVID-19. Key findings include:

• 61% of younger doctors preferred telehealth over AI (53%) as the most impactful technology during the pandemic.
• 47% reported increased appreciation from patients, while 44% noted improved collaboration with colleagues.
• Only 9% are likely to leave the profession, with 38% more committed to staying in medicine.

On September 2, 2020, Royal Philips (NYSE: PHG) showcased innovations at its virtual consumer health event, emphasizing the shift towards "health-at-home" solutions fueled by the COVID-19 pandemic. CEO Frans van Houten noted an increasing focus on preventative care and digital healthcare services. Philips introduced connected health solutions enabling users to monitor their health and engage with caregivers remotely. Innovations include teledentistry services and apps for expectant parents. These developments not only address consumer needs but also reflect a strategic pivot in Philips' health technology offerings.

Royal Philips (NYSE: PHG) announced the next-generation Azurion image-guided therapy platform, enhancing clinical and operational lab performance. This platform integrates imaging, physiology, hemodynamic, and informatics applications for improved clinician control during procedures. It features SmartCT, allowing 3D CT-like image acquisition and visualization. With over two million procedures performed since its launch, Azurion helps streamline workflows, improve decision-making, and optimize patient care. The platform is available in three versions, catering to specific customer needs.

Royal Philips (NYSE: PHG) announced a partial termination of its ventilator contract with the U.S. Department of Health and Human Services (HHS), reducing the original order of 43,000 ventilators by 30,700 units. Philips has successfully delivered 12,300 ventilator configurations to the Strategic National Stockpile by the end of August 2020. CEO Frans van Houten stated that while the reduction will impact financial performance, the company expects to achieve modest sales growth and an Adjusted EBITA margin comparable to last year by year's end.

Philips has launched the Affiniti CVx and released version 7.0 of its EPIQ CVx ultrasound systems at ESC 2020. These advancements aim to enhance productivity in cardiology departments amid rising patient volumes linked to cardiac diseases. Key features include a streamlined workflow for cardiologists, AutoStrain technology that delivers a 70% reduction in analysis time, and various automated tools for improved diagnostic confidence. The Affiniti CVx has not yet received a CE mark for EU marketing.

Royal Philips (NYSE: PHG) is showcasing its latest cardiac care innovations at the ESC Congress 2020, emphasizing integrated solutions that enhance clinical confidence and improve patient outcomes. Key highlights include the launch of the Affiniti CVx ultrasound solution and enhancements to the EPIQ CVx. Philips' offerings aim to facilitate value-based care amidst the COVID-19 pandemic, aiding healthcare providers in balancing quality and cost. The event runs from August 29 to September 1, focusing on the importance of informed decision-making through advanced informatics.

Royal Philips (NYSE: PHG) announced enhancements to its KODEX-EPD cardiac imaging system, aimed at improving cryoablation procedures for patients with Atrial Fibrillation (AF). The system is now operational at 40 sites worldwide, having treated over 1500 patients. Key improvements include faster, high-resolution imaging, enhanced mapping functionality, and new visualization options. The KODEX-EPD system allows for quicker, radiation-free imaging, which could lead to better patient outcomes and more efficient workflows for healthcare providers.

Royal Philips (NYSE: PHG) and B. Braun Medical Inc. received FDA clearance for Onvision®, an innovative ultrasound guidance solution for real-time needle tip tracking in regional anesthesia. This technology aims to enhance accuracy in Peripheral Nerve Blocks (PNBs), potentially reducing the inefficacy rate of such procedures, currently estimated at 10-15%. The Onvision system, integrated with the Xperius® ultrasound system, offers anesthesiologists increased confidence and efficiency during procedures. The solution is expected to be available in the U.S. by Q4 2020, complementing its existing CE mark for the EU and Chile.