Philips' Fourth Quarter Results 2011 - Healthcare Sector

PhilipsRoyal Philips Electronics (NYSE: PHG, AEX: PHI) reports fourth-quarter sales of EUR 6.7 billion; EBITA of EUR 503 million. Healthcare comparable sales were 3% higher year-on-year. Comparable equipment order intake grew 3% year-on-year. Equipment orders in growth geographies grew by 17%. Results were impacted by weakness in the European markets, postponed deliveries of existing orders, as well as increased investments in new product innovation and sales channels.

Business highlights

  • Philips signed a partnership agreement with Farrar Park Hospital of Singapore to provide its hospital with workflow consulting, hospital equipment planning, project management, procurement services as well as exclusively supplying multi-modular Phipils equipment. This is the largest multi-modality solution project for the company's ASEAN region.
  • Resulting from Philips' continuous investments in innovation, the company has received 510(k) clearance from the Food and Drug Administration (FDA) to market its whole-body PET/MR imaging system, the Ingenuity TF PET/MR, and its HeartNavigator interventional tool in the US. In addition, the company has introduced the next-generation mammography solution, Philips MicroDose, in the US.
  • Delivering on its commitment to provide tailor-made solutions, Philips signed a multi-year strategic partnership agreement with Baptist Health South Florida whereby Philips will provide a comprehensive Radiology and Cardiovascular Image Management System and a Cardiovascular Information System solution across their six hospitals and 19 outpatient centers.
  • Facilitating ageing populations to live independently, Philips has expanded its Lifeline personal emergency response service to Japan. The intended approach is to sign up customers through referrals from healthcare providers and via sales at large stores, like retail giant Aeon Co.
  • Demonstrating the clinical benefits and significant cost-saving of remote patient monitoring, the UK Department of Health released the initial results of the largest randomized, controlled trial of telecare and telehealth in the world to date. Philips had provided its telehealth technology and expertise to the study.

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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 over 120,000 employees with sales and services in more than 100 countries worldwide. With sales of EUR 22.3 billion in 2010, 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 male shaving and grooming, portable entertainment and oral healthcare.

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