Philips and Dutch Isala Hospital renew long-term partnership focused on innovation and affordable, sustainable healthcare
Rhea-AI Summary
Philips (NYSE: PHG, AEX: PHIA) and Isala hospital in the Netherlands have renewed their strategic partnership for five years, with an option to extend for another five. The collaboration, which began in 2012, aims to enhance healthcare delivery through innovative and cost-effective solutions, focusing on radiology and cardiology departments.
Key aspects of the partnership include:
- Utilizing Philips' technology to optimize processes and deliver more patient-centered care
- Integrating new technologies into hospital operations
- Replacing medical systems like MRI and CT scanners through a flexible multi-year plan
- Enhancing clinical adoption of new technologies such as AI
- Ensuring healthcare remains accessible, available, and affordable
This renewal underscores both parties' commitment to driving innovation and ensuring sustainable, high-quality healthcare delivery in the face of financial and personnel challenges.
Positive
- Renewal of long-term strategic partnership with Isala hospital
- Focus on innovative and cost-effective healthcare solutions
- Implementation of advanced technology, data analytics, and AI in healthcare delivery
- Flexible multi-year plan for replacing medical systems
- Potential for extended partnership duration (additional 5 years)
Negative
- None.
News Market Reaction
On the day this news was published, PHG gained 0.56%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
August 13, 2024
Amsterdam, The Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, and Isala hospital (Zwolle, The Netherlands) have renewed their long-term strategic partnership to enhance healthcare delivery through innovative and cost-effective solutions. This collaboration aims to ensure healthcare remains accessible, available, and affordable by leveraging Philips' advanced technology, data analytics, and AI. Focusing on the radiology and cardiology departments, it follows a successful collaboration that began in 2012. The new agreement will last for five years, with an option to extend for another five years.
Transforming healthcare with cutting-edge technology
Isala will utilize Philips' technology to optimize processes and deliver more patient-centered care. Together, they will integrate new technologies into hospital operations and continuously improve products based on real-world data-driven feedback.
"Our focus is on maintaining accessible, available, and affordable care in a cost-effective way; the right technology plays a crucial role in this," said Jules de Vet, a member of the Board of Directors at Isala.
Sustainable and cost-effective medical systems replacement
Isala will replace medical systems, such as MRI and CT scanners, through a flexible multi-year plan ensuring cost-effectiveness and sustainability. Continuous updates will keep systems state-of-the-art, extending their lifespan and benefiting both finances and the environment. Philips will provide essential medical imaging systems and support services to improve clinical adoption and streamline processes.
Enhancing clinical adoption of new technology
"Hospitals face significant financial and personnel challenges in the coming years, and there is no single solution to these challenges," said Léon Kempeneers, Managing Director at Philips Benelux. "Together with Isala, we will work on enhancing the clinical adoption of new technologies such as AI, simplifying and enhancing healthcare providers' work."
This renewed partnership underscores the commitment of Philips and Isala to drive innovation and ensure sustainable, high-quality healthcare delivery.
For further information, please contact:
Joost Maltha
Global External Relations
Tel. : +31 6 10558116
E-mail: joost.maltha@philips.com
Pieter de Meer
Philips Benelux
Tel. : +31625269065
E-mail: pieter.de.meer@philips.com
About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being through meaningful innovation. Philips’ patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2023 sales of EUR 18.2 billion and employs approximately 68,700 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.
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