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) cautions customers against health hazards faced by the users of CPAP or Bi-Level PAP therapy masks with magnetic headgear.

Philips (PHG) Alerts Users of Health Hazards of Therapy Masks

Philips announces new milestones in the development of the world's first spectral detector angio CT solution

Philips Respironics alerts customers worldwide of updated instructions and labeling of specific sleep therapy masks that contain magnetic headgear clips due to potential risk of serious injury

Baptist Health's Miami Cardiac & Vascular Institute successfully treats its first cardiac patients with new 3D Philips Intracardiac Echocardiography Catheter

A subsidiary of Dutch medical device maker Philips has agreed to pay over $24 million to resolve alleged false claims over respiratory-related medical equipment, the U.S. Justice Department said on Thursday.

Philips subsidiary to pay over $24 million for alleged false claims for medical equipment

Dutch medical device maker Philips said on Monday it has expanded an earlier recall of some respiratory machines to a total of 1,700 devices globally due to possible contamination of a plastic component with a non-compatible material.

Philips expands respiratory devices recall on possible plastic contamination

Philips spotlights integrated, data-driven cardiology solutions at ESC 2022

A massive recall of Philips breathing devices in 2021 due to a risk of potential injury has left physicians scrambling to find alternatives for the growing number of people who use them.

Explainer-What is the impact of Philips' recall of sleep apnea devices?

Philips to convene Extraordinary General Meeting of Shareholders to appoint Roy Jakobs as new President and Chief Executive Officer

The U.S. Food and Drug Administration (FDA) said reports of faulty Philips ventilators and sleep apnea machines had risen in the past quarter, underlining problems facing the Dutch company, which has just announced plans to replace its CEO.

FDA says faulty Philips device reports accelerating as CEO departs

Dutch health technology company Philips on Tuesday unexpectedly announced that Chief Executive Officer Frans van Houten would be replaced with company insider Roy Jakobs on October 15.

Philips says CEO Van Houten to leave in October

Philips announces CEO succession

Philips generates positive cash flows even during these turbulent times. Product recall and litigation will hang over the stock until 2023-24.

Philips: Doubling Down

Vascular experts establish Appropriate Use of Intravascular Ultrasound (IVUS) in peripheral interventions

Partnership inspires gamers to use Philips Norelco OneBlade to shape, shave and show up as their best selves STAMFORD, Conn. , Aug. 4, 2022 /PRNewswire/ -- Today, Philips, a global leader in health technology, announced a partnership with the premier voice of Esports, Scott Cole, to inspire gamers to look and feel their best.

Philips Norelco and Scott Cole, the Preeminent Voice of Esports, Partner to Help Esports Athletes Look and Feel Their Best

Koninklijke Philips' (PHG) Q2 top and bottom-line results reflect the negative impact of supply chain constraints and COVID lockdowns in China.

Philips' (PHG) Q2 Earnings Down on Supply Chain Constraints

Koninklijke Philips N.V. (NYSE:PHG ) Q2 2022 Results Conference Call July 25, 2022 4:00 AM ET Company Participants Leandro Mazzoni - Head, IR Frans van Houten - CEO Abhijit Bhattacharya - CFO Roy Jakobs - Chief Business Leader, Connected Care Francis Kim - Chief Quality and Regulatory Officer Conference Call Participants Hassan Al-Wakeel - Barclays David Adlington - JPMorgan Cazenove Julien Dormois - Exane BNP Paribas Graham Doyle - UBS James Vane-Tempest - Jefferies Falko Friedrichs - Deutsche Bank Ed Ridley-Day - Redburn Delphine Le Louet - Societe Generale Leandro Mazzoni Hi, everyone.

Koninklijke Philips N.V. (PHG) CEO Frans van Houten on Q2 2022 Results - Earnings Call Transcript

The company says it expects full-year sales growth of 1% to 3%, down from its previous forecast of 3% to 5%.

Philips Stock Sinks on Cut to Sales Guidance

Royal Philips NV PHG, -0.05% PHIA, -9.54% on Monday reported a swing to a net loss for the second quarter, which it blamed on a number of issues including pandemic-related lockdowns in China, inflationary pressures and the Russia-Ukraine war.

Philips swings to loss and cuts sales guidance

Dutch medical equipment maker Philips on Monday reported a worse-than-expected drop in second-quarter core earnings to 216 million euros ($220 million), citing supply shortages and lockdowns in China.

Philips misses Q2 forecasts, cites supply chain issues and China lockdowns

Philips' performance impacted by headwinds; order book strength and improving component supplies expected to deliver growth and profitability improvement from second half of 2022 onwards

Koninklijke Philips (PHG) announces that its latest AI-powered MR acceleration software SmartSpeed will be showcased as part of the AI-powered precision diagnosis portfolio at ECR.

Philips (PHG) Expands AI Portfolio With SmartSpeed Solution

July 13, 2022  Philips demonstrates portfolio of smart connected imaging systems and integrated radiology workflow solutions designed to improve diagnostic confidence and clinical outcomes Amsterdam, the Netherlands and Vienna, Austria – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, will showcase its award-winning AI-powered systems and solutions debuting at the European Congress of Radiology (ECR, July 13-17, Vienna, Austria).  Philips will demonstrate how its portfolio of smart connected imaging systems and integrated radiology workflow solutions help increase diagnostic confidence and clinical outcomes; help reduce staff stress and burnout; improve patient engagement and quality access to care; and enhance efficiency to help reduce waste. “Radiology plays such a critical role in diagnosing and guiding patients into the right treatment plans. That's why we designed our smart connected imaging systems to deliver first time right diagnoses with the latest clinical technologies and applications to drive patient-centric insights supporting early and definitive diagnosis and treatment,” said Kees Wesdorp , Chief Business Leader of Precision Diagnosis at Philips. “Addressing operational inefficiencies across the entire radiology enterprise was also the driving force behind the introduction of our AI-enabled, software defined systems and solutions to assist customers by automating and accelerating routine tasks, generating insights from large amounts of data to help improve productivity and lower the risk of staff burnout.” Smart connected imaging systems help increase diagnostic confidence It is projected the amount of healthcare data will grow 36% each year by 2025 [1]. In the recent Future Health Index 2022 Global report commissioned by Philips, one of the biggest challenges facing radiology leaders is managing the sheer volume of data available to them, with nearly a quarter (24%) of those surveyed, citing data management as their top issue. Philips AI-powered leading technologies help turn relevant data into actionable insights to increase diagnostic confidence and improve clinical outcomes. New at ECR 2022, Philips will spotlight its latest AI-powered, software-defined MR smart systems, including its SmartSpeed artificial intelligence (AI) powered MR acceleration software , which delivers higher image resolution with 3 times faster scan times [2] and virtually no loss in image quality, representing a major step forward in diagnostic confidence and MR department productivity. Philips SmartSpeed joins the growing number of Philips AI powered workflow innovations available across the portfolio of smart Philips MR systems that will be showcased at ECR, including the European introduction of the new smart connected 3T MR system, Philips MR 7700 and the company's latest MR 5300 1.5T helium-free in operations MR system. Each of these systems uses intelligent software to automate tasks and help relieve the burden on busy radiology staff and departments. Also new to the European market and being showcased at ECR 2022 is the award-winning Philips Spectral CT 7500 , the latest intelligent system to deliver high quality spectral images for every patient on every scan 100% of the time to help improve disease characterization, and reduce rescans and follow-ups, all at the same dose levels as conventional scans. The time-saving spectral workflow is fully integrated, enabling the technologist to get the patient on and off the table quickly – spectral chest scans and head scans take less than one second, and a full upper body spectral scan can be completed in less than two seconds. The new Spectral CT 7500 has demonstrated a 34% reduction in time to diagnosis, a 25% reduction in repeat scans and a 30% reduction in follow-up scans [3]. Integrated radiology workflows drive operational efficiency and improve patient experience Operational inefficiencies continue to weigh heavily on clinicians and health systems as they strive to deliver the very best care for their patients. It is no surprise that 45% of radiologists reported symptoms of burnout pre-pandemic [4], while 97% of technologists report moderate or severe levels of job stress [5]. Visitors to the Philips Zone at ECR 2022 will see how Philips' end-to-end, vendor neutral solutions simplify and connect workflows to address productivity challenges across the radiology enterprise.  Philips Radiology Workflow Suite  is a combination of solutions that support clear and efficient radiology workflows. At ECR, Philips continues to expand its Radiology Workflow Suite, introducing new and enhanced solutions across the entire radiology workflow with a focus on:

Philips highlights AI-powered precision diagnosis portfolio at ECR 2022

Philips spotlights latest AI-powered, software-defined MR smart systems at ECR 2022

July 4, 2022 Amsterdam, the Netherlands – Royal Philips (NYSE: PHG; AEX: PHIA) today announced that it has completed the cancellation of 8,758,455 of its shares. The cancelled shares were acquired as part of the EUR 1.5 billion share repurchase program for capital reduction purposes that was announced on July 26, 2021. Philips' current issued share capital amounts to EUR 177,863,016.40 representing 889,315,082 common shares. As communicated earlier , Philips intends to have 19,571,218 shares delivered through the early settlement of forward contracts (entered into as part of the same share repurchase program) and to cancel those as well, which would result in 869,743,864 issued common shares at year-end 2022 (2021: 883,898,969). More information is available here .  For further information, please contact: Ben ZwirsPhilips Global Press OfficeTel.: +31 6 15213446E-mail: ben.zwirs@philips.com Derya GuzelPhilips Investor RelationsTel.: +31 20 59 77055E-mail: derya.guzel@philips.com 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 2021 sales of EUR 17.2 billion and employs approximately 79,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter . Forward-looking statements This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips' organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.

Philips completes cancellation of 8.8 million shares

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