Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, and Cognizant (Nasdaq: CTSH), a world-leading professional services firm, announced a new collaboration to develop end-to-end digital health solutions that will enable healthcare organizations and life sciences companies to improve patient care and accelerate clinical trials. The strategic alliance brings together Philips HealthSuite, a cloud-based platform and Cognizant's digital engineering expertise to deliver and maintain leading-edge digital health solutions at scale, providing advanced connectivity and using big data to create actionable insights.
Philips HealthSuite, built on Amazon Web Services, is an integrated, modular set of standards-based capabilities that support the development of digital health propositions. The platform securely stores critical healthcare data and provides both advanced data analytics and AI capabilities, while delivering industry-leading interoperability, connectivity, and regulatory compliance. To date, more than 100 types of medical devices have been integrated into HealthSuite, with over 145 billion clinical images securely archived on the cloud platform.
As part of this collaboration, Cognizant will build, deploy, implement, and operate client-specific applications on Philips HealthSuite. These customizable, scalable solutions integrate advanced data analytics, helping to improve both the patient and clinician experience by providing relevant data to the appropriate point-of-care.
With these solutions, healthcare providers can monitor their patients outside traditional clinical settings, and patients can stay more informed of their own well-being. In addition, both biopharmaceutical and medical device manufacturers can quickly gain actionable insights through advanced analytics to make more informed clinical development decisions and rapidly bring new solutions to patients.
"Despite advances, patients and clinicians still face a fragmented technology and data landscape that holds back innovative healthcare services which improve care quality and the human experience," said Shez Partovi, Chief Innovation & Strategy Officer, Royal Philips. "Philips is committed to driving the digital transformation of healthcare. Partnering with Cognizant's experienced digital engineering teams will accelerate the adoption of solutions built on Philips HealthSuite, delivering digital solutions across the healthcare continuum in a secure and compliant manner, and ultimately helping guide better health decisions for patients."
For Life Sciences companies, Philips HealthSuite's compliant and secure medical device connectivity, data integration and analysis will also benefit remote patient monitoring and decentralized clinical trials. This will enable a reduction in paperwork, help researchers reach more diverse trial participants, and improve connectivity between investigators and participants - with the goal of improving the quality and speed of therapy development.
"Cognizant and Philips are each dedicated to improving people's lives through health technology," said Ursula Morgenstern, President of Global Growth Markets at Cognizant. "This new collaboration will provide critical solutions that help manage the growing amount of health data available, keep patients and providers better connected, and help accelerate life-saving therapies to market. Virtual and digital health solutions are fundamental to improving health awareness and engagement. We are proud to work with Philips, a world leader in healthtech, to support the health and well-being of people everywhere."
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 Cognizant
Cognizant (Nasdaq-100: CTSH) is one of the world’s leading professional services companies, transforming clients’ business, operating and technology models for the digital era. Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquartered in the US, Cognizant is ranked 185 on the Fortune 500 and is consistently listed among the most admired companies in the world.