Royal Philips (NYSE: PHG, AEX: PHIA), and Elekta (EKTA-B.ST) signed agreements to deepen their existing strategic partnership to advance comprehensive and personalized cancer care through precision oncology solutions.
The extended collaboration builds on the two companies’ successful cooperation in the fast-emerging field of magnetic resonance (MR)-guided adaptive radiation therapy. Through deeper cross-portfolio collaboration, Philips and Elekta will utilize their complementary capabilities to further improve patient care.
Benefiting patients throughout the care pathway
Oncology care is transforming, driven by an increasingly precise diagnosis of each tumor, and a continuously expanding range of therapy options. To fully capitalize on these opportunities, healthcare providers require integrated solutions throughout the entire cancer care pathway, from diagnosis to treatment and follow-up.This integrated approach has the potential to provide:
- Quicker, more accurate visualization of the tumor
- Easier decision of optimal treatment strategy
- Earlier assessment of therapy response
- More effective and efficient therapy delivery
The strengthened strategic partnership intends to further deliver a superior experience in diagnosis and adaptive, personalized treatments for clinicians, shorter treatment times and more precise therapy for patients, and lowered costs of care for healthcare providers.
"To capitalize on the opportunities presented by increasingly precise diagnosis and the fast-expanding range of therapies available for cancer patients, it's essential to provide integrated systems and solutions that provide the right insights at the right time throughout each patient's care journey," said Kees Wesdorp, Chief Business Leader of Precision Diagnosis at Philips. "By deepening our already-successful collaboration with Elekta, we will accelerate towards our goal of providing clear care pathways and predictable outcomes for every cancer patient. Today's announcement is an important next step in the implementation of our strategy in precision diagnosis."
"I expect this extended partnership to unlock opportunities that will provide better outcomes for people with cancer," said Gustaf Salford, Elekta's President and CEO. "Together, we'll combine advanced informatics and image-guided radiation therapy solutions to deliver greater precision in oncology. This means easier selection by clinicians of the optimal treatment strategy and more efficient and effective therapy delivery."
In this preferred, although non-exclusive, partnership, Elekta and Philips will leverage their capabilities to pursue integrated vendor-agnostic solutions, enhancing interoperability between the two parties' systems and software in order to drive precision in oncology.
About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2020 sales of EUR 17.3 billion and employs approximately 77,000 employees with sales and services in more than 100 countries.
About Elekta
For almost five decades, Elekta has been a leader in precision radiation medicine. Our more than 4,000 employees worldwide are committed to ensuring everyone in the world with cancer has access to - and benefits from - more precise, personalized radiotherapy treatments. Headquartered in Stockholm, Sweden, Elekta is listed on NASDAQ Stockholm Exchange.
