Philips to merge healthcare and consumer lifestyle business into one company
In a move aimed at capitalizing on the convergence of professional healthcare and consumer end-markets for healthy living, Philips announced it will combine its Healthcare and Consumer Lifestyle businesses into one company called HealthTech.
The new company will leverage the Philips brand. The combined HealthTech businesses featured 2013 sales of EUR 15 billion, according to Philips.
“Philips is uniquely positioned to help reshape and optimize population health management by leveraging big data and delivering care across the health continuum, from healthy living and prevention to diagnosis, minimally invasive treatment, recovery and home care,” Frans van Houten, CEO of Royal Philips, said in a press release.
The company said its HealthTech businesses already have strong positions in ultrasound diagnostics, healthcare informatics, cardiac care and more, and serve a market estimated to exceed EUR 100 billion.
Evan joined TriMed in 2011, writing primarily for Health Imaging. Prior to diving into medical journalism, Evan worked for the Nine Network of Public Media in St. Louis. He also has worked in public relations and education. Evan studied journalism at the University of Missouri, with an emphasis on broadcast media.