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.

February 29, 2024 New CT 5300 system provides more accurate and reliable imaging results to better manage increase in complex cardiac cases where precise patient diagnosis is crucial Philips' latest innovation leverages the power of AI at every stage in CT scanner operation to enhance productivity and diagnostic capabilities of high-throughput, short-staffed radiology departments Amsterdam, the Netherlands and Vienna, Austria – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced the launch of Philips CT 5300 system equipped with advanced AI capabilities designed to be used for diagnosis, interventional procedures and screening. The flexible X-ray CT system increases diagnostic confidence, streamlines workflow efficiency, and maximizes system up-time, helping to improve patient outcomes and department productivity.

Bringing confident diagnosis to more patients at low cost: Philips launches new AI-enabled CT 5300 at #ECR2024

Philips (PHG) announces its latest Azurion neuro biplane system, which aims to improve the diagnosis of stroke and major neurovascular diseases. The system is designed for superior patient care.

Philips' (PHG) New Innovation to Boost Neurovascular Diagnosis

February 28, 2024 At #ECR2024, company also debuting Europe's first mobile virtually helium-free MRI system Amsterdam, the Netherlands and Vienna, Austria – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced a significant milestone as it expands access to virtually helium-free [1] MRI to more patients in more places, with more than 1,000 systems now installed worldwide. As healthcare providers strive to deliver high-quality care to patients, at #ECR2024 Philips is partnering with its customers to improve productivity and access to more sustainable healthcare.

Philips extends leadership in virtually helium-free MRI with more than 1,000 systems installed, expanding patient access worldwide

February 28, 2024 Proposal to appoint Ms. Hanneman as member of Philips' Board of Management fulfilling the role of CFO per October 1, 2024 Amsterdam, the Netherlands –  Royal Philips  (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced the proposal to appoint Charlotte Hanneman as member of the Board of Management, fulfilling the role of Chief Financial Officer (CFO), effective October 1, 2024.

Charlotte Hanneman to succeed Abhijit Bhattacharya as Philips' Chief Financial Officer (CFO)

February 27, 2024 New image-guided therapy system is a complete interventional solution for confident diagnosis, image guidance, and therapy assessment of patients with stroke or other neurovascular diseases Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced major enhancements to its Image Guided Therapy System – Azurion – with the launch of its new Azurion neuro biplane system . Designed to streamline neurovascular procedures and help care teams make the right decisions faster, treat more patients, and achieve better outcomes, the new interventional system features enhanced 2D and 3D imaging and X-ray detector positioning flexibility.

Philips launches new Azurion neuro biplane system at #ECR2024 to speed up and improve minimally invasive diagnosis and treatment of neurovascular patients

Philips (PHG) announces its latest LumiGuide imaging technology, which is likely to pave the way for new radiation-free procedures. It will prove beneficial for complex aortic surgeries.

Philips' (PHG) New Innovation to Boost Radiation-Free Imaging

Rotech Healthcare said on Friday it was reviewing a list of patients who may have been impacted due to a cybersecurity breach experienced by its partner Philips' Respironics unit.

Rotech says third-party hacked partner Philips Respironics

February 20, 2024 1.88 billion lives improved by Philips' health technology products and services; on track to improve 2 billion lives by 2025 Through its industry leading innovations and partnerships, Philips helps increase access to healthcare globally and create sustainable and resilient healthcare models Philips expanded its circular revenues to 20% of sales; remained carbon-neutral in its operations, and f urther reduced its value chain carbon emissions with 46% of its purchases (in spend) made at suppliers that have committed to science-based targets Third year of country-by-country activity and tax reporting; enhanced scope 1-3 emissions reporting in preparation for new EU Corporate Sustainability Reporting Directive Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, has relentlessly focused on further improving its Environmental, Social, and Governance (ESG) performance in 2023. For example, Philips improved the health and well-being of 1.88 billion people with its innovative products and services, of which 221 million in underserved communities, bringing the company close to its goal of improving 2 billion lives per year by 2025.

Philips delivers strong ESG performance in 2023

February 20, 2024 Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today published its Annual Report 2023. Philips' Annual Report 2023 will be on the agenda of the Annual General Meeting of Shareholders (AGM), to be held on May 7, 2024.

Philips publishes its Annual Report 2023

February 20, 2024 Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that it proposes to re-appoint Chairman Feike Sijbesma and Peter Löscher as members of the Supervisory Board and to appoint Benoît Ribadeau-Dumas as new member of the Supervisory Board to the Annual General Meeting of Shareholders (AGM), which will be held on May 7, 2024. “I consider it a privilege to serve a second term and lead the Board's supervisory role of Philips, and I am pleased that Peter will remain available to serve the Board as well,” said Feike Sijbesma.

Philips proposes to re-appoint Chairman Feike Sijbesma and Peter Löscher and nominates Benoît Ribadeau-Dumas as member of the Supervisory Board

The U.S. FDA said on Thursday it has classified a recall of Philips' medical imaging machines as most serious due to the risk of a detector falling unexpectedly in some devices.

US FDA classifies Philips' recall of imaging machines as most serious

Philips (PHG) receives an FDA Class 1 recall for BrightView imaging systems.

Philips (PHG) Receives FDA Class 1 Recall for BrightView SPECT

Philips' (PHG) latest X11-4t Mini 3D TEE transducer is likely to have an edge over the traditional 3D TEE in terms of catering to a broader range of patients and improved overall comfort.

Philips' (PHG) New Innovation to Enhance Cardiovascular Imaging

The U.S. Food and Drug Administration said on Wednesday there have been 561 deaths reported since 2021 related to the use of Philips' recalled ventilators and machines for treating obstructive sleep apnea.

US FDA says 561 deaths related to Philips machines since 2021

January 31, 2023 Latest innovation has the potential to reduce anesthesia during minimally invasive procedures [1] As a pioneer and leading innovator in cardiac ultrasound, Philips has developed the smaller X11- 4t Mini 3D TEE transducer to serve more patients with this valuable imaging tool, from pediatric patients to older adults and everyone in between Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that its latest TEE transducer, designed to serve more patients with improved overall comfort, has received FDA 510(k) clearance. Cardiovascular ultrasound has played a key role in the evolution of early diagnosis of structural heart disease, led by a technology pioneered by Philips: the ‘transesophageal echocardiography' (TEE) ultrasound transducer.

New Philips Mini TEE ultrasound transducer helps improve cardiac care for more patients

675 personal injury lawsuits have been filed against Philips over the recalled devices.

Philips to halt sales of sleep apnea machines in US after global 2021 recall

Philips' (PHG) fourth-quarter results benefit from strong momentum across the Diagnosis & Treatment and Personal Health businesses. However, softness in the Connected Care business is a concern.

Philips (PHG) Q4 Earnings Beat Estimates, Revenues Fall Y/Y

Medical products maker Philips on Monday gave Q4 results, and said it had halted its CPAP machine sales in the U.S.

CPAP Machine Maker Releases Details Of FDA Agreement, Q4 Results

Philips (AMS:PHIA) shares fell in Monday's trading after announcing what's described as a multi-year halt to its US sales of new sleep apnoea devices. The halt is part of a settlement with the US Food and Drug Administration (FDA) following a device recall in 2021 after ventilators and breathing aids were found to contain a foam designed for noise-reduction which was deemed potentially harmful.

Philips stock drops as FDA agreement sees halt to sleep apnoea device sales

Koninklijke Philips N.V. (PHG) Q4 2023 Earnings Call Transcript

Philips on Monday said it will halt the sales of new sleep-therapy devices in the U.S., as part of a broader settlement that led the company to take a €363 million ($393 million) provision.

Philips to halt CPAP sales in the U.S. as it takes $393 million provision

Under-fire Dutch medical device maker Philips said Monday it would halt new sales of sleep machines in the US after a series of recalls that continued to weigh on results.

Philips trims losses, stops selling sleep devices in US

Dutch health technology company Philips said on Monday it had reached an agreement on the terms of a settlement with the U.S. Food and Drug Administration (FDA) over a large-scale recall of ventilators.

Philips reaches compliance agreement with FDA over ventilator recall

January 29, 2024 Delivers strong sales growth, improved profitability, and strong cash flow in 2023 through solid execution of first year of 2023-2025 plan Agrees with FDA on terms of consent decree focused on Philips Respironics in the US, providing clarity and a roadmap to demonstrate compliance and to restore the business Reiterates confidence in delivering the 2023-2025 plan; further performance improvement in 2024 FY and Q4 Group performance highlights Group sales amounted to EUR 18.2 billion in 2023; EUR 5.1 billion in Q4 Comparable sales growth of 7% in 2023; 3% in Q4, excluding provisions charged to sales, mainly connected with the Respironics consent decree* Comparable order intake was -5% in 2023; -3% in Q4; absolute order book remains strong Income from operations was EUR -115 million in 2023; EUR 24 million in Q4, including charges of EUR 363 million connected with the Respironics consent decree Adjusted EBITA margin increased to 10.5% of sales in 2023; 12.5% in Q4, excluding provisions charged to sales, mainly connected with the Respironics consent decree* Free cash flow increased to EUR 1,582 million in 2023; increased to EUR 1,128 million in Q4 Restructuring and productivity plan on track, with savings of EUR 956 million in 2023; EUR 271 million in Q4 Proposed dividend maintained at EUR 0.85 per share, to be distributed in shares Philips expects to deliver 3-5% comparable sales growth and Adjusted EBITA margin of 11-11.5% in 2024 * See table below Metrics affected by provisions charged to sales FY 2023 Q4 2023 Sales - as reported in millions of EUR 18,169 5,062 Comparable sales growth - excluding provisions charged to sales 1 ) 7% 3% Comparable sales growth 6% (1)% Adjusted EBITA margin - excluding provisions charged to sales 1 ) 10.5% 12.5% Adjusted EBITA margin 10.6% 12.9% 1) Excluding provisions charged to sales of EUR 174 million in Q4 2023 mainly in connection with the Respironics consent decree. Roy Jakobs, CEO of Royal Philips: “Our strong results in 2023 were driven by solid execution of the first year of our three-year plan to create value with sustainable impact.

Philips delivers strong full-year results; agrees with FDA on terms of consent decree focused on Philips Respironics in the US

Koninklijke Philips' (PHG) fourth-quarter results are likely to reflect solid momentum in the Diagnosis & Treatment and Connected Care segments.

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