Philips' First Quarter Results 2008 - Healthcare Sector

Royal Philips Electronics
  • Group sales increase to EUR 5,965 million; growth in Healthcare and Lighting offset by lower television sales.
  • Ongoing growth at Healthcare with 5% higher sales; 9% higher equipment order intake, including double-digit growth in North America.
  • Continuing strong growth of 17% in emerging markets

"I'm particularly pleased about the continuing progress in our Healthcare sector. Together with the solid performance in Lighting and the non-TV businesses in Consumer Lifestyle, this underscores the robustness of our business portfolio in times of economic headwind. Also our excellent growth in emerging markets is a confirmation of the benefits of our good geographic spread", mentioned Gerard Kleisterlee, President and CEO of Royal Philips Electronics.

Q1 Highlights

  • Healthcare Acquisitions - Philips announced two strategic acquisitions: Shenzhen Goldway Industrial in China to strengthen its position in this key emerging market; TOMCAT Systems in Northern Ireland to expand the Healthcare Informatics business unit. The company has also completed the acquisition of Respironics, the global leader in Obstructive Sleep Apnea treatment.
  • HeartCycle - Philips Research announced that it spearheads the HeartCycle consortium, comprising 18 research, academic, industrial and medical organizations from 9 different European countries and China. The consortium will work to improve the quality of life for coronary heart disease and heart failure patients by monitoring their condition and involving them in the daily management of their disease, in one of the largest biomedical and healthcare research project in the E.U.
  • 50th Ambient Experience - Philips completed the installation of its 50th Ambient Experience suite, at Fairview Hospital in Cleveland, Ohio, following other installations in various countries including the U.S., Saudi Arabia and Germany in the quarter.

Related news articles:

About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a global leader in healthcare, lighting and consumer lifestyle, delivering people-centric, innovative products, services and solutions through the brand promise of “sense and simplicity”. Headquartered in the Netherlands, Philips employs approximately 134,200 employees in more than 60 countries worldwide. With sales of EUR 27 billion in 2007, the company is a market leader in medical diagnostic imaging and patient monitoring systems, energy efficient lighting solutions, as well as lifestyle solutions for personal wellbeing. News from Philips is located at www.philips.com/newscenter.

Most Popular Now

Giving Doctors an AI-Powered Head Start …

Detection of melanoma and a range of other skin diseases will be faster and more accurate with a new artificial intelligence (AI) powered tool that analyses multiple imaging types simultaneously...

AI Agents for Oncology

Clinical decision-making in oncology is challenging and requires the analysis of various data types - from medical imaging and genetic information to patient records and treatment guidelines. To effectively support...

AI Medical Receptionist Modernizing Doct…

A virtual medical receptionist named "Cassie," developed through research at Texas A&M University, is transforming the way patients interact with health care providers. Cassie is a digital-human assistant created by Humanate...

Using Data and AI to Create Better Healt…

Academic medical centers could transform patient care by adopting principles from learning health systems principles, according to researchers from Weill Cornell Medicine and the University of California, San Diego. In...

AI Tool Set to Transform Characterisatio…

A multinational team of researchers, co-led by the Garvan Institute of Medical Research, has developed and tested a new AI tool to better characterise the diversity of individual cells within...

AI Detects Hidden Heart Disease Using Ex…

Mass General Brigham researchers have developed a new AI tool in collaboration with the United States Department of Veterans Affairs (VA) to probe through previously collected CT scans and identify...

Human-AI Collectives Make the Most Accur…

Diagnostic errors are among the most serious problems in everyday medical practice. AI systems - especially large language models (LLMs) like ChatGPT-4, Gemini, or Claude 3 - offer new ways...

Northern Ireland Completes Nationwide Ro…

Go-lives at Western and Southern health and social care trusts mean every pathology service is using the same laboratory information management system; improving efficiency and quality. An ambitious technology project to...

Highland Marketing Announced as Official…

Highland Marketing has been named, for the second year running, the official communications partner for HETT Show 2025, the UK's leading digital health conference and exhibition. Taking place 7-8 October...

MHP-Net: A Revolutionary AI Model for Ac…

Liver cancer is the sixth most common cancer globally and a leading cause of cancer-related deaths. Accurate segmentation of liver tumors is a crucial step for the management of the...

Groundbreaking TACIT Algorithm Offers Ne…

Researchers at VCU Massey Comprehensive Cancer Center have developed a novel algorithm that could provide a revolutionary tool for determining the best options for patients - both in the treatment...

The Many Ways that AI Enters Rheumatolog…

High-resolution computed tomography (HRCT) is the standard to diagnose and assess progression in interstitial lung disease (ILD), a key feature in systemic sclerosis (SSc). But AI-assisted interpretation has the potential...