Shares pared gains slightly to trade up 7.83% by 8:25 a.m. London time. Shares of Dutch device maker Philips jumped more than 8.5% in early deals Monday after the company reported better-than-expected second-quarter earnings. The Philips office building in Warsaw, Poland, on July 29, 2021. Comparable group sales rose 2% to 4.5 billion euros ($4.88 billion), as demand in North America held strong, even as China sales dipped. The company's comparable order intake over the three-month period grew by 9%. ...

July 29, 2024 Group sales amounted to EUR 4.5 billion, with comparable sales growth of 2% Comparable order intake increased by 9% Income from operations EUR 816 million, including EUR 538 million insurance income*) Adjusted EBITA margin increased to 11.1% of sales Operating cash inflow of EUR 89 million, with a free cash outflow of EUR 64 million "I am encouraged by our return to order intake growth this quarter, primarily driven by North America. Within a challenging macro environment we achieved strong ma ...

July 17, 2024 Amsterdam, the Netherlands, and Cincinnati, Ohio – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology and Bon Secours Mercy Health (BSMH), one of the nation's largest Catholic health systems, today announced a multi-year strategic collaboration for patient monitoring. Putting BSMH clinicians in control, the collaboration will reduce the digital burden on staff and give them more time to spend with patients. "This collaboration is part of our commitment to drive improved ...

The partnership provides access to the latest Philips monitoring innovations, including a scalable patient monitoring platform that integrates patient data and provides vital insights. It will standardize patient monitoring for BSMH's 49 hospitals, reducing costs through a predictable payment model and enabling further reinvestment in innovation. "This collaboration is part of our commitment to drive improved healthcare quality while reducing costs and addressing healthcare issues facing entire communities, ...

The SENSE XL Torso coils, designed for 1.5T and 3.0T MR scanners, are 16-element, receive-only coils used for imaging the torso and abdomen. Each coil includes a back part, a front part, and a connection box, and they operate independently without combining with other coils. These coils help produce diagnostic images that can be interpreted by trained physicians. Significance of the Recall In November, Philips recalled certain MRI scanners due to the risk of explosion, despite only one reported incident in ...

Core Points - Royal Philips has completed the cancellation of 4,437,164 shares as part of a EUR 1.5 billion share repurchase program aimed at capital reduction, which was announced on July 26, 2021 [1] - The current issued share capital of Philips amounts to EUR 187,987,876.80, representing 939,939,384 common shares [2] - Philips generated sales of EUR 18.2 billion in 2023 and employs approximately 69,100 employees, with operations in over 100 countries [3]

More information is available here. Dorin Danu Philips Investor Relations Tel.: +31 20 59 77055 E-mail: dorin.danu@philips.com Forward-looking statements Amsterdam, the Netherlands – Royal Philips (NYSE: PHG; AEX: PHIA) today announced that it has completed the cancellation of 4,437,164 of its shares. The cancelled shares were acquired as part of the completed EUR 1.5 billion share repurchase program for capital reduction purposes that was announced on July 26, 2021. Ben Zwirs Philips External Relations Tel ...

Philips expects 2024 comparable sales growth for the underlined segment in the band of 3-5%. The consensus mark for 2024 earnings is pegged at $1.54 per share, indicating an increase of 14.1% year over year. The figure has moved upward by 0.7% in the past 30 days. Zacks Rank & Stocks to Consider Some better-ranked stocks in the broader medical market sector are DaVita (DVA) , ICON (ICLR) and Encompass Health (EHC) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zac ...

June 18, 2024 Healthcare leaders indicate automation is crucial in addressing staff shortages, but staff remain skeptical Interest in Generative AI grows, with majority of health leaders investing in, or planning to invest in AI technologies to help reduce delays in patient care Amsterdam, the Netherlands– Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced the results of its Future Health Index 2024 report: Better care for more people. Launched at HLTH Europe, the ni ...

Core Insights - The Future Health Index 2024 report by Royal Philips highlights the increasing reliance on virtual care and AI innovations to tackle workforce shortages, financial pressures, and rising demand in healthcare [1][2]. Group 1: Workforce Challenges - Approximately 66% of healthcare leaders report heightened levels of burnout, stress, and mental health issues among staff, with 77% indicating that staff shortages lead to delays in patient care [3][5]. - 60% of leaders express concerns about increasing waiting lists for appointments, while 57% report longer waiting times for treatments [3]. Group 2: Technology Adoption - A significant 92% of healthcare leaders believe that automating repetitive tasks is essential for alleviating staff shortages, although 65% of healthcare professionals remain skeptical about automation's effectiveness [5]. - Virtual care is recognized by 89% of leaders as positively impacting staffing shortages, with 54% noting it allows for more flexible work schedules [6]. Group 3: AI and Innovation - The report indicates that 43% of healthcare leaders are already utilizing AI for clinical decision support in patient monitoring, with 85% planning to invest in generative AI technologies [8]. - The majority of leaders are focused on integrating AI to enhance patient care and reduce wait times, emphasizing the importance of staff engagement in the adoption process [2][4]. Group 4: Financial Sustainability - 81% of healthcare leaders acknowledge that financial challenges directly affect patient care, with 59% unable to invest in advanced medical technologies [9]. - Despite financial constraints, 89% of leaders are developing growth strategies to serve more patients, while 86% prioritize reducing the environmental impact of healthcare [10]. Group 5: Research Basis - The findings of the Future Health Index 2024 report are based on proprietary research conducted among 3,000 healthcare leaders across 14 countries [11].