Philips Delivers On Aim To Focus Exclusively On Health And Healthtech
Royal Philips is planning to sell its domestic appliance business to better focus on its strategic aims in health technology. The group made the announcement as it unveiled 2019 sales up 4.5% on a comparable basis.
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While its traditional competitors are active in devices or capital equipment, Philips has set itself apart with its committed investment in health informatics, says CEO Frans van Houten, who wants to position the group as a leader in integrated care models.
Dutch health giant Philips reported Q2 results 22 July, showing better-than-expected sales across its medtech businesses. Strong growth in China and North America boosted the firm’s diagnosis and treatment businesses by 6% from the same period last year.