Philips Foundation 2024 Annual Report: Expanding Access to Quality Healthcare for 46.5 Million People

PhilipsMarking its tenth anniversary, Philips Foundation released its 2024 Annual Report, highlighting a year in which the Philips Foundation helped provide access to quality healthcare for 46.5 million people around the world - a significant increase from 28 million the year before.

This progress was driven by 22 new initiatives and five new early-stage capital impact investments that expanded Philips Foundation's reach, channeling Philips' health technology expertise to help address the growing burden of non-communicable diseases and maternal health challenges, predominantly at the primary care level in underserved communities.

"Today, half of the global population still does not have access to healthcare. Innovation and new digital technologies, combined with an ecosystem of partners, can improve health outcomes and make progress towards a future where quality healthcare is within reach for everyone," said Marnix van Ginneken, Chair of the Board of the Philips Foundation. "The Foundation's tenth anniversary marks an important milestone, demonstrating our continued commitment to addressing the critical needs of the world’s most vulnerable populations."

Since it was established in 2014, Philips Foundation has brought healthcare solutions to some of the most remote and underserved regions across the globe - from rural clinics in Africa to urban slums in Latin America. These efforts included groundbreaking work to combat neglected diseases such as rheumatic heart disease in collaboration with the World Heart Federation, and cross-continental ultrasound training programs with RAD-AID International, enabling frontline healthcare workers to detect and prevent life-threatening conditions for people living in low-resource settings.

Philips Foundation continues to build scalable healthcare models by providing ventures early-stage capital through Philips Foundation Impact Investments, supporting locally driven innovation and accelerating access to healthcare in underserved settings. In 2024, Philips Foundation Impact Investments expanded its portfolio with new ventures from India and Latin America, reinforcing its commitment to financially viable, locally rooted healthcare innovation.

"Combining the impact of long-term strategic collaborations and new, innovative partnerships and early-stage investments, the Foundation has helped to embed healthcare innovations in the communities where they're most needed, improving healthcare access," Margot Cooijmans, Director of Philips Foundation and Philips Foundation Impact Investments, said. "We continue to increase the number of people that we reach with quality healthcare, bringing us closer to our ambition to reach 100 million people annually by 2030."

To read the full 2024 Annual Report, click here.

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being through meaningful innovation. Philips' patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home.

Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2024 sales of EUR 18 billion and employs approximately 67,200 employees with sales and services in more than 100 countries.

About Philips Foundation

Philips Foundation is a registered non-profit organization established in 2014 - with a mission to provide access to quality healthcare for underserved communities across the globe. By leveraging Philips’ capabilities and combining them with the experience and expertise of non-governmental organizations and other community-focused and impact-driven enterprises, Philips Foundation helps create innovative pathways to open up affordable healthcare for communities most in need. By also partnering with innovative social entrepreneurs rooted in the local ecosystem, Philips Foundation aims to increase access to healthcare for 100 million people a year by 2030.

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...

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...

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...

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...