Royal Philips

Koninklijke Philips NV is a technology company, which engages in the healthcare, lighting, and consumer well-being markets. It operates through the following segments: Diagnosis and Treatment businesses; Connected Care businesses; Personal Health businesses; and Other. The Diagnosis and Treatment businesses segment consists systems, smart devices, software and services, powered by AI-enabled informatics-that support precision diagnoses and minimally invasive procedures in therapeutic areas such as cardiology, peripheral vascular, neurology, surgery, and oncology. The Connected Care businesses segment consists Hospital Patient Monitoring, Emergency Care, Sleep & Respiratory Care and Connected Care Informatics. The Personal Health businesses segment consists of Oral Healthcare, Personal Care,Mother and Child Care. The Other segment reports on the items Innovation & Strategy, IP Royalties, Central costs, and other small items. The company was founded by Anton Frederik Philips and Gerard Leonard Frederik Philips in 1891 and is headquartered in Amsterdam, the Netherlands.

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Koninklijke Philips NV is a technology company, which engages in the healthcare, lighting, and consumer well-being markets. It operates through the following segments: Diagnosis and Treatment; Connected Care; Personal Health; and Other. The Diagnosis and Treatment segment consists of systems, smart devices, software, and services, powered by AI-enabled solutions that support precision diagnoses and minimally invasive treatment in therapeutic areas such as cardiology, peripheral vascular, neurology, surgery, and oncology. The Connected Care segment focuses on Hospital Patient Monitoring, Sleep and Respiratory Care, and Enterprise Informatics. The Personal Health segment represents Oral Healthcare business unit, Personal Care business unit, and Mother and Child Care business unit. The Other segment is involved on the Innovation and Strategy, IP Royalties, Central costs, and other small items. The company was founded by Anton Frederik Philips and Gerard Leonard Frederik Philips in 1891 and is headquartered in Amsterdam, the Netherlands.

Philips' (PHG) second-quarter results benefit from robust performances by the Diagnosis & Treatment and the Connected Care businesses.

Philips (PHG) Q2 Earnings Beat Estimates, Revenue Rise Y/Y

Koninklijke Philips N.V. (NYSE:PHG ) Q2 2023 Earnings Conference Call July 24, 2023 4:00 AM ET Company Participants Leandro Mazzoni - Head of IR Roy Jakobs - CEO Abhijit Bhattacharya - CFO Conference Call Participants Hassan Al-Wakeel - Barclays Veronika Dubajova - Citi Richard Felton - Goldman Sachs David Adlington - JPMorgan Robert Davies - Morgan Stanley Graham Doyle - UBS Sezgi Bice Ozener - HSBC Falko Friedrichs - Deutsche Bank Operator Welcome to the Royal Philips Second Quarter and Semi-annual 2023 Results Conference Call on Monday, July the 24th, 2023.

Koninklijke Philips N.V. (PHG) Q2 2023 Earnings Call Transcript

Dutch medical tech firm Philips posted a nine percent jump in second-quarter sales and a return to profit on Monday as it bounces back from a global recall of sleep respirators.

Philips sales jump, bounces back from respirator recall

Dutch health technology company Philips on Monday said it had produced approximately 99% of the new replacement respiratory devices and repair kits required for the remediation of the registered affected devices.

Philips: 99% of replacement respiratory devices have been produced

July 24, 2023 Second-quarter highlights Group sales increased to EUR 4.5 billion, with 9% comparable sales growth Income from operations amounted to EUR 221 million, compared to EUR 11 million in Q2 2022 Adjusted EBITA increased to EUR 453 million, or 10.1% of sales, compared to EUR 216 million, or 5.2% of sales, in Q2 2022 Order book continued to grow year-on-year, while comparable order intake declined following a high order intake in Q2 2022 Operating cash flow improved to EUR 135 million, compared to an outflow of EUR 306 million in Q2 2022 Simplification of the operating model and restructuring plans on track Outlook for full year 2023 raised to mid-single-digit comparable sales growth and an Adjusted EBITA margin at the upper end of the high-single-digit range Roy Jakobs, CEO of Royal Philips: “We are progressing to plan on our three priorities to enhance patient safety and quality, strengthen supply chain reliability, and simplify how we work, and I am pleased with our improved operational performance across all segments and geographies in the quarter. We delivered 9% comparable sales growth, increased profitability and improved cash flow, against a backdrop of ongoing macroeconomic and geopolitical challenges.

Philips delivers improved operational performance driven by sales growth and focus on execution

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ALPHARETTA, Ga.--(BUSINESS WIRE)-- #recorder--Philips' SpeechLive Earns FirstNet Verified™ Designation.

Philips' SpeechLive® Earns FirstNet Verified™ Designation

Philips, a multinational healthcare technology company, has seen revenues approach EUR4.167bn in Q1, with comparable sales growth of 6% YoY and an adjusted EBITDA margin of 13.8%. Despite underperforming in the medical technologies' industry, Philips' operational strength and supply chain resilience strategy have enabled it to outperform the health tech index. Philips is focusing on a threefold macro strategy to promote patient safety, reduce product failures, optimize its supply chain, and develop a more agile business model.

Philips: Focus On Business Optimization And Agility Supports Value

Philips' stock has rallied 35% this year, but it remains 65% lower than its peak in 2021 due to pending lawsuits related to a recall of about 4 million devices. The company, a global health tech leader, is expected to settle the recall issue by the end of next year. Despite the ongoing uncertainty, Philips is showing signs of recovery with increased sales and a reduction in operating costs, making the stock a potential option for risk-tolerant investors.

Philips Is Reasonably Valued Despite Its 35% Rally This Year

The trio trusts new Philips Norelco OneBlade 360 to bring versatility to their grooming routines STAMFORD, Conn. , June 21, 2023 /PRNewswire/ -- Philips, a global leader in health technology, today introduces the second annual class of Philips Norelco Team OneBlade.

Philips Norelco Unveils Team OneBlade 2023, featuring top professional basketball prospects Gradey Dick, Keyonte George and Jarace Walker

June 15, 2023 The Innovative Health Initiative has awarded a EUR 24 million grant to the IMAGIO consortium of clinical partners coordinated by Philips, with additional resources and funding from industry partners The consortium will carry out research into improving clinical outcomes through less invasive treatments for lung cancer, liver cancer and soft tissue sarcomas Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that the Philips-coordinated IMAGIO consortium [1] of clinical partners has been awarded a EUR 24 million Innovative Health Initiative (IHI) grant, complemented with additional resources and funding from industry partners [2], to carry out research into less invasive cancer treatments. Consisting of approximately 30 partners, the consortium will use the funding to improve clinical outcomes with interventional oncology innovations focused on lung cancer, liver cancer and soft tissue sarcomas.

IMAGIO consortium receives Innovative Health Initiative EUR 24 million grant to improve cancer treatments

June 14, 2023 Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA) today announced that it will repurchase up to 7.1 million shares to cover certain of its obligations arising from its long-term incentive plans. At the current share price, the shares represent an amount of up to approximately EUR 132 million.

Philips to repurchase up to 7.1 million shares to cover long-term incentive plans

June 14, 2023 Economic analysis of cost of Vall d'Hebron University Hospital Stroke Unit shows direct-to-angio stroke pathway can save more than USD 3,000 per patient Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced the results of a health economic analysis published in the Journal of NeuroInterventional Surgery (JNIS) that show an innovative approach to the stroke care pathway reduced costs by an average of EUR 2,848 (~USD 3,120) per patient. The retrospective analysis looked at data from the controlled single-center ANGIOCAT clinical trial conducted at the Vall d'Hebron University Hospital Stroke Unit (Barcelona, Spain) [1].

Philips' direct-to-angio stroke pathway: new analysis demonstrates substantial cost savings in addition to improved patient outcomes

Virtualized imaging solution allows for more consistent workflows and faster, better-quality diagnostic imaging. TAMPA, Fla.

TGH Imaging Implements Philips Radiology Operations Command Center (ROCC)

June 1, 2023 Amsterdam, the Netherlands and Irvine, California, U.S. – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, and Masimo (NASDAQ: MASI), a global medical technology company, today announced FDA clearance allowing the activation of SedLine® Brain Function Monitoring, Regional Oximetry (O3®), and CO2 measurements in Philips Patient Monitors – IntelliVue MX750 and MX850. The latest extension of Masimo and Philips' ongoing collaboration will help enable clinicians to make quick and informed decisions without the need for additional monitoring equipment.

Philips and Masimo introduce new, advanced monitoring capabilities to Philips high acuity patient monitors

May 22, 2023 Amsterdam, the Netherlands and Nashville, TN, USA – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, and Vanderbilt University Medical Center (VUMC), home to the top-ranked adult and pediatric hospitals in the Southeastern U.S., today announced a collaboration that aims to reduce the health system's carbon footprint while determining a blueprint to guide industry efforts. The project is with the radiology department, where efforts will focus on measuring and addressing energy consumption of VUMC's diagnostic imaging devices including MR, CT, ultrasound and X-ray.

Philips and Vanderbilt University Medical Center unite to define roadmap for decarbonizing radiology

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Is Koninklijke Philips (PHG) Stock Undervalued Right Now?

May 17, 2023 Amsterdam, the Netherlands – Royal Philips (NYSE: PHG; AEX: PHIA) today announced that the exchange ratio for the dividend for the year 2022 is 1 new common share for every 22.3906 existing common shares. This ratio was based on the volume weighted average price on Euronext Amsterdam of May 11, 12 and 15, 2023, of EUR 19.0020 and was calculated in a manner that the gross dividend in shares will be approximately equal to EUR 0.85. As a result, Philips will issue a total number of 39,334,938 new common shares.

Philips announces exchange ratio for 2022 dividend

May 17, 2023 New Philips CT 3500 increases return on investment by meeting the throughput and uptime needs of routine radiology and high-volume screening programs AI-powered workflow and image reconstruction enhance productivity and first-time-right imaging Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced the launch of the Philips CT 3500, a new high-throughput CT system targeting the needs of routine radiology and high-volume screening programs. Powered by AI, the Philips CT 3500 includes a range of image-reconstruction and workflow-enhancing features that help to deliver the consistency, speed, and first-time-right image quality needed for confident diagnoses by clinicians and increased return on investment – even in the most demanding, high-volume care settings.

Philips launches AI-powered CT system to accelerate routine radiology and high-volume screening programs

May 16, 2023 Amsterdam, the Netherlands – Royal Philips (NYSE: PHG; AEX: PHIA), today provides an update on the comprehensive test and research program of its subsidiary Philips Respironics to assess potential health risks related to the polyester-based polyurethane (PE-PUR) sound abatement foam in specific sleep therapy and ventilator devices under the voluntary June 2021 recall notification/field safety notice .* The risk assessments have now been completed for the CPAP/BiPAP sleep therapy devices under the recall notification/field safety notice* i.e.

Philips provides update on completed set of test results for CPAP/BiPAP sleep therapy devices

May 15, 2023 Across East Africa, India and Latin America, Philips Foundation's social impact investment vehicle supported eight health technology enterprises Through its Knowledge Hub, Philips Foundation shares expertise and insights on delivering improved healthcare services to remote and resource-limited settings In close collaboration with Philips, Philips Foundation and its partners continue to support the people of Ukraine affected by the war Amsterdam, the Netherlands – Philips Foundation , with its mission to provide access to quality healthcare for 100 million people a year by 2030, today announced the publication of its 2022 Annual Report . Philips Foundation and its partners provided quality healthcare access to over 26 million people in underserved communities in 2022.

Philips Foundation 2022 Annual Report: partnering to provide healthcare access to over 26 million people in underserved communities

Amsterdam-based company used special price discounts for distributors and manipulated Chinese procurement processes by influencing state-run hospital officials, regulators said.

Royal Philips to Pay $62 Million to Settle China Bribery Probe

Washington, D.C.--(Newsfile Corp. - May 11, 2023) - The Securities and Exchange Commission today announced that Amsterdam-based Koninklijke Philips N.V.

Dutch Medical Supplier Philips to Pay More Than $62 Million to Settle FCPA Charges

May 11, 2023 Late-breaking data presented from largest-ever randomized controlled multicenter clinical trial on optimizing patient safety during coronary procedures Philips-hosted symposiums and onsite trainings to empower better heart care through integrated imaging, devices, software, informatics and services Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, is showcasing end-to-end cardiology solutions through the care pathway at the annual meeting for the European Association of Percutaneous Cardiovascular Interventions (EuroPCR, May 16-19, Paris, France) to deliver better heart care for patients with greater efficiency. The Philips cardiology portfolio addresses the need for integrating imaging, devices, software, informatics, and services at each point in the cardiac patient journey.

Philips showcases its latest portfolio of cardiology innovations that deliver clinical confidence and efficiency in treating cardiac disease at EuroPCR 2023

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