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Philips CEO to leave after product recall

August 17, 2022

Via: Electronics Weekly

Houten has been CEO for 12 years and was due to leave the job in April. Roy Jakobs, head of Connected Care will take over. Philips is in the middle of a recall of ventilators and machines for the treatment […]


Industry Focus Areas, Medical, Process, R & D

Intel, Philips tout speed gains in AI-powered healthcare algorithms

August 22, 2018

Via: Mass Device

Intel (NSDQ:INTC) and Royal Philips (NYSE:PHG) said last week they are partnering to test Intel hardware’s ability to run deep learning artificial intelligence programs intended to improve the capabilities of Philips tech. The two companies joined to test the abilities […]


Industry Focus Areas, Medical

Philips closes $2B Spectranetics acquisition

August 11, 2017

Via: Mass Device

Royal Philips (NYSE:PHG) said yesterday it closed its $2.2 billion deal to acquire US vascular intervention device maker Spectranetics. With the closure, Spectranetics and its financial results will be consolidated into Philips image-guided therapy business, the company said. Philips said that Spectranetics […]


Industry Focus Areas, Medical

Philips gains on strong Q2 results

July 24, 2017

Via: Mass Device

Royal Philips (NYSE:PHG) shares are up today after the Dutch healthcare conglomerate said core second-quarter profits rose nearly 15% to $512.31 million (€439 million), just beating the consensus forecast. The Amsterdam-based company, which spun off its lighting division last year to focus […]


Industry Focus Areas, Medical

Philips optimistic about Cleveland plant despite Q1 losses

May 10, 2016

Via: Mass Device

Royal Philips (NYSE:PHG) said it is optimistic it will see its Cleveland plant turn a profit this year, despite seeing losses increase during the 1st quarter. The company saw losses grow at the plant due to continued effort to fix […]


Industry Focus Areas, Medical

DoD re-ups Philips contract for $77m

March 28, 2016

Via: Mass Device

Royal Philips won a maximum $77 million modification through the U.S. Department of Defense as the 7th year in a possible 9-year contract for medical equipment. The contract positions Philips to supply the DoD with patient monitoring systems, subsystems, accessories, […]