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.

Cancer-causing toxic particles are a significant problem for the Netherlands-based firm.

Royal Philips Dragged Down by Ever-Expanding Ventilator Recall

Philips highlights AI-powered integrated diagnostic approach at ECR 2023

Philips continues to demonstrate strong commitment to its ESG ambitions

Dutch health technology company Philips' top management will not take any bonuses for 2022 after a global recall of respiratory devices resulted in a 70% plunge in the company's market value, it said on Tuesday.

Philips management will not receive bonuses for 2022

February 21, 2023 Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today published its Annual Report 2022. Philips' Annual Report 2022 will be on the agenda of the Annual General Meeting of Shareholders (AGM), to be held on May 9, 2023. The convocation notice and the agenda, including explanatory notes, for the AGM 2023 will be published in due course.

Philips publishes its Annual Report 2022

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that the company earned a spot on Forbes' 2023 “America's Best Large Employers” list. This is the fifth time that Philips has appeared in the ranking which is limited to 500 organizations across the country and just 15 in the Health Care Equipment & Services category.

Philips Named a Top Place to Work on Forbes' “America's Best Large Employers” of 2023 list

Philips recognized as top innovator for 10th consecutive year

Philips and TriHealth announce multi-year partnership at heart of new TriHealth Heart & Vascular Institute on the campus of Bethesda North Hospital

Koninklijke Philips' (PHG) Q4 top and bottom-line results reflect easing supply chain constraints.

Philips' (PHG) Q4 Earnings Down Y/Y, Supply Chain Issues Ease

Philips reported its Q4 earnings, which beat estimates. Several announced restructuring efforts and productivity initiatives are expected to support margins and profitability going forward.

Philips: Compelling 5% Yield As Q4 Earnings Confirm Financial Turnaround

Koninklijke Philips N.V. (NYSE:PHG ) Q4 2022 Earnings Conference Call January 30, 2023 4:00 AM ET Company Participants Leandro Mazzoni - Head, Investor Relations Abhijit Bhattacharya - Chief Financial Officer Roy Jakobs - Chief Executive Officer Shez Partovi - Chief Strategy and Innovation Officer Francis Kim - Head of Quality Wim Appelo - Chief Operations Officer Conference Call Participants Veronika Dubajova - Citi Hassan Al-Wakeel - Barclays David Adlington - J.P.

Koninklijke Philips N.V. (PHG) Q4 2022 Earnings Call Transcript

Philips announced Monday that it is reducing its global workforce for the second time in recent months as it works to boost profitability following a recall of its sleep apnea machines.

Philips cuts 6K more jobs to improve profitability

Philips (NYSE: PHG ) layoffs are on the way as the company plans to cut 6,000 jobs as it looks to regain profitability. With these latest job cuts, the amount of employees laid off by Philips in the last few months comes to 10,000.

Philips Layoffs 2023: What to Know About the Latest PHG Job Cuts

The job cuts are part of a reorganization aimed at improving its performance.

Philips to Cut a Further 6,000 Jobs

Dutch consumer electronics and medical equipment maker Philips said Monday it is cutting 6,000 jobs worldwide over the next two years as it revealed a net loss of 1.6 billion euros ($1.7 billion) in 2022, down from a net profit of 3.3 billion euros last year.

Dutch electronics giant Philips to cut 6,000 jobs worldwide

Royal Philips NV on Monday said it will cut an extra 6,000 jobs by 2025, including around 3,000 this year, as part of a plan to improve performance and drive value creation.

Philips swings to a loss, ‘anticipates a slow start to the year'

Dutch health technology company Philips said on Monday it would scrap 6,000 jobs to restore its profitability following a recall of respiratory devices that knocked off 70% of its market value.

Philips scraps 6,000 jobs in drive to improve profitability

January 30, 2023. Amsterdam, the Netherlands – Royal Philips (NYSE: PHG; AEX: PHIA), a global leader in health technology, today presents its plan to create value with sustainable impact based on focused organic growth and scalable innovation, with improved execution as the key value driver. Starting at 10:00 am CET, the company will host a webcast with Philips CEO Roy Jakobs, CFO Abhijit Bhattacharya, and other Philips leaders.

Philips presents its plan to create value with sustainable impact

Group sales amounted to EUR 5.4 billion, with 3% comparable sales growth driven by component supply improvements, while Philips' supply chain conditions remain challenging

Philips sees some improvement in Q4 2022 and takes firm actions to address operational challenges in an uncertain environment

CAMBRIDGE, Mass.--( BUSINESS WIRE )--Forbes Magazine awarded Royal Philips (NYSE: PHG, AEX: PHIA), global leader in health technology, with a perfect score, 5 out of 5 points, for its Pregnancy+ Application as part of the Forbes “Best Pregnancy Apps of 2023” list.

Philips Pregnancy+ Application gets perfect score from Forbes “Best Pregnancy Apps of 2023”

CAMBRIDGE, Mass. & LANSING, Mich.--( BUSINESS WIRE )--To help connect pregnant and postpartum Michigan residents to support and assistance, the Michigan Department of Health and Human Services (MDHHS) has selected Royal Philips, (NYSE: PHG, AEX: PHIA) a global leader in health technology to provide access for Medicaid-eligible families to the Philips Pregnancy+ mobile application. The Philips Pregnancy+ App is the most downloaded pregnancy app in the world, with over 55 million downloads globally. It supports parents from the moment they discover they are pregnant by offering personalized content, expert-written information, as well as interactive 3D models to track a baby's development.

Michigan Department of Health and Human Services Selects Philips to Improve Access to Vital Resources for Expectant Moms Through Pregnancy+ Application

Masimo

IRVINE, Calif. & ANDOVER, Mass.--( BUSINESS WIRE )--Masimo (NASDAQ: MASI) and Royal Philips (NYSE: PHG, AEX: PHIA) today announced an expansion of their partnership to augment patient monitoring capabilities in home telehealth applications with the Masimo W1™ advanced health tracking watch. The W1 will integrate with Philips's enterprise patient monitoring ecosystem to advance the forefront of telemonitoring and telehealth. The combined innovation, which draws upon the two global medical technology leaders' extensive expertise in monitoring, connectivity, and automation, will be highlighted later this month at Arab Health 2023.

Masimo and Philips Expand Partnership to Improve Telehealth for Patients and Clinicians Around the World with the Masimo W1™ Watch

Dutch health technology company Philips said on Wednesday independent tests on its respiratory devices involved in a major global recall had shown limited health risks.

Philips says tests on recalled products show limited health risks

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, following the voluntary recall notification/field safety notice* to address potential health risks related to the polyester-based polyurethane (PE-PUR) sound abatement foam in specific CPAP, BiPAP and mechanical ventilator devices.

Philips provides update on completed set of test results for first-generation DreamStation sleep therapy devices

CAMBRIDGE, Mass. & TALLAHASSEE, Fla.--( BUSINESS WIRE )--Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, has entered into a research partnership with U.S. magnet solutions provider MagCorp to explore superconducting magnets for MR scanners that do not require cooling to ultra-low temperatures (-452 °F or -269 °C) using liquid helium. Developing more sustainable alternatives to helium-cooled MRI magnets at a lower cost has the potential to offer significant benefits by making advanced MR imaging available to more patients in more diverse settings as well as potentially reducing radiology department capital and operating costs.

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