Philips Updates Markets on Healthcare Sector

Royal Philips ElectronicsAt a meeting with investors and financial analysts yesterday, Royal Philips Electronics (NYSE: PHG, AEX: PHI) has updated the market on progress at the company's Healthcare sector. Executives at Philips Healthcare, including sector Chief Executive Officer and member of the Philips Board of Management Steve Rusckowski, elaborated on the fundamental strengths of Philips' Healthcare business and discussed the long-term growth and profitability drivers that give Philips a uniquely strong position going forward.

"While certain factors, both economic and political, clearly influence short-term performance I am fundamentally confident of the success chances of our Healthcare business in the long run." Mr. Rusckowski commented. "Our world is facing some inescapable challenges in the medium-to-long term. We have come a long way already in building up the Healthcare portfolio needed to face those challenges. This, coupled with our leading business positions and our differentiating approach in general, positions us well for the future, despite the short-term headwind we face today."

During yesterday's meeting, several Healthcare executives have discussed the fundamental drivers and positioning of their respective businesses. For instance, the chief executive of Home Healthcare Solutions discussed how ever-more pressing challenges like overburdened healthcare systems and ageing populations will lead to out-of-hospital medical treatment and patient monitoring becoming an increasingly important element in the Healthcare mix. He has elaborated on how Philips is excellently positioned to benefit from this trend, while providing sensible solutions to some of the key healthcare challenges of our time.

During the day, analysts also were given more insight into Philips Healthcare's efforts to tackle the short-term impact of the current economic slowdown through a strong focus on cost and cash management and ensuring that maximum value is captured from recent acquisitions. Philips will also provide an update on restructuring and cost reduction measures for Healthcare, which are now expected to result in total savings of EUR 150 million for 2009.

Presentations are available and can also be followed via webcast. Please visit Philips' Investor Relations website to listen to this webcast - http://www.philips.com/about/investor/investor/analystdays/20090507_analystsday.page

Related news articles:

About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a diversified Health and Well-being company, focused on improving people’s lives through timely innovations. As a world leader in healthcare, lifestyle and lighting, Philips integrates technologies and design into people-centric solutions, based on fundamental customer insights and the brand promise of "sense and simplicity". Headquartered in the Netherlands, Philips employs approximately 116,000 employees in more than 60 countries worldwide. With sales of EUR 26 billion in 2008, the company is a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products for personal well-being and pleasure with strong leadership positions in flat TV, male shaving and grooming, portable entertainment and oral healthcare. News from Philips is located at www.philips.com/newscenter.

Most Popular Now

AI Helps Physicians Better Assess the Ef…

In a small but multi-institutional study, an artificial intelligence (AI)-based system improved providers' assessments of whether patients with bladder cancer had complete response to chemotherapy before a radical cystectomy (bladder...

Smartwatches and Fitness Bands Reveal In…

A new digital health study by researchers at Scripps Research shows how data from wearable sensors, such as smartwatches and fitness bands, can track a person’s physiological response to the...

AI may Detect Earliest Signs of Pancreat…

An artificial intelligence (AI) tool developed by Cedars-Sinai investigators accurately predicted who would develop pancreatic cancer based on what their CT scan images looked like years prior to being diagnosed...

Open Call U4H-2022-PJ2: Call for Proposa…

The Ukraine crisis has an unprecedented impact on the mental health of the displaced people in the EU coming from Ukraine. The conflict and experiences of people in war zones...

AI Reduces Miss Rate of Precancerous Pol…

Artificial intelligence reduced by twofold the rate at which precancerous polyps were missed in colorectal cancer screening, reported a team of international researchers led by Mayo Clinic. The study is...

Medical Valley EMN & Volitan Global …

The two healthcare innovation experts Medical Valley EMN and Volitan Global strengthen their existing inbound- and outbound activities through a strategic partnership. The aim is to offer companies access to...

DMEA - Connecting Digital Health Opens w…

26 - 28 April 2022, Berlin, Germany. What plans does the new federal government have concerning the digital transformation of the healthcare sector? What are the initial experiences of doctors regarding...

AI can Predict Probability of COVID-19 v…

Testing shortages, long waits for results, and an over-taxed health care system have made headlines throughout the COVID-19 pandemic. These issues can be further exacerbated in small or rural communities...

Using AI to Detect Cancer from Patient D…

A new way of using artificial intelligence to predict cancer from patient data without putting personal information at risk has been developed by a team including University of Leeds medical...

Oulu University Hospital Expands Partner…

Siemens Healthineers and Oulu University Hospital in Finland have entered a strategic partnership for the next ten years, adding to an existing radiotherapy collaboration to jointly expand and modernize the...

Positive Conclusion to DMEA - Connecting…

26 - 28 April 2022, Berlin, Germany. After three days DMEA, Europe's leading digital health event, came to a successful conclusion - with around 11,000 visitors, more than 500 exhibitors and...

AI-Enabled ECGs may Identify Patients at…

Atrial fibrillation, the most common cardiac rhythm abnormality, has been linked to one-third of ischemic strokes, the most common type of stroke. But atrial fibrillation is underdiagnosed, partly because many...