Integrated Care Is The Model Of The Future For Philips
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.
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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.
In its second acquisition this month and fourth this year, Philips is buying US device maker Spectranetics Corp. for about $2bn to add laser atherectomy catheters to its vascular imaging line-up.
Imaging giant Philips is hoping acquisitions will help it out of its current slump, betting €800m ($1bn) on cardiovascular device specialist Volcano. The deal is worth $18 per Volcano share, a 57% premium over its closing price of $11.49 on 16 December, the day the acquisition was announced.