Koninklijke Phil Stock Price, News & Analysis

Royal Philips (NYSE: PHG) has formed a 5-year strategic partnership with the Dutch SAZ group, comprising 28 hospitals, to advance connected care. This collaboration focuses on enhancing patient monitoring and self-management, incorporating Philips' technologies.

The initiative aims to shift care closer to patients' homes, reduce ICU readmissions, and improve health outcomes through early detection. Notably, projects in 2021 will include in-hospital applications and home monitoring for chronic conditions, leveraging the Engage platform for patient data management.

Royal Philips has launched the Philips Medical Tablet in North America, Europe, and Japan to facilitate remote patient monitoring during emergencies such as the COVID-19 pandemic. This portable device integrates with the IntelliVue XDS software, allowing clinicians to monitor multiple patients without being tied to central stations. The solution aims to improve workflows amidst increased patient volume and PPE shortages, enhancing safety for both patients and healthcare providers. With a focus on rapid deployment, the tablet is positioned to support hospitals adapting to the pandemic's challenges.

Philips Espresso has partnered with actor Justin Baldoni to encourage healthy daily routines through an Instagram giveaway. The contest, running from December 10 to December 12, will reward five winners with a Philips Espresso 3200 with LatteGo and $1,000 each. Participants share stories on Baldoni's Instagram post about someone in need of support. A study reveals that 59% of adults achieved more than expected in 2020, with coffee drinkers 73% more likely to succeed. Philips aims to inspire positive changes as people look forward to 2021.

Royal Philips (NYSE: PHG) announced a technical failure experienced by Euronext, which is affecting the accurate closing price for Philips shares on October 19, 2020. The company indicated that the closing price is expected to be close to EUR 42.305, which reflects the last recorded price during regular trading. Euronext is actively working to resolve this issue. Philips, a leader in health technology, reported sales of EUR 19.5 billion in 2019 and has a global workforce of approximately 81,000 employees.

Philips reported Q3 sales of EUR 5.0 billion, reflecting a 10% comparable sales growth, while income from continuing operations rose to EUR 341 million. The company's Adjusted EBITA margin improved by 300 basis points to 15.4%, and operating cash flow increased to EUR 770 million. Although comparable order intake declined by 18%, it increased by 3% when excluding a partial ventilator contract termination with HHS. Philips aims for average annual comparable sales growth of 5-6% from 2021–2025.

The DEFINE PCI study results reveal that iFR co-registration enhances patient outcomes post-PCI by identifying and treating residual ischemia more effectively than conventional angiography. Findings showed that 24% of patients experienced residual ischemia despite successful PCI, with 82% potentially treatable. Patients with optimal post-PCI iFR (≥0.95) had 68% fewer clinical events at one year, indicating significant improvements in survival and reduced angina. Philips continues to innovate with tools like OmniWire and the Azurion platform to advance interventional therapy.

Royal Philips (NYSE: PHG) has entered a seven-year strategic partnership with Mandaya Royal Hospital Puri in Indonesia, combining cutting-edge medical technologies and solutions. This partnership aims to deliver world-class healthcare services through advanced imaging and monitoring systems. Opening in early 2021, the hospital will feature over 350 beds, advanced medical centers, and a capacity to serve over a thousand patients daily. Philips' integrated solutions will enhance patient outcomes and experience while supporting Indonesia's healthcare goals.

Royal Philips (NYSE: PHG) has partnered with LeQuest to offer online interactive training for the Philips Ultrasound Affiniti system. This innovative e-training allows medical staff to practice with realistic simulation scenarios at their convenience, minimizing operational downtime and enhancing staff onboarding. The Affiniti system is designed for efficient diagnosis with low operating costs, supporting various medical applications. The partnership aims to improve healthcare workflows and outcomes, particularly during the COVID-19 pandemic, promoting safe remote training and collaboration.