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Improving Health Care Productivity Means ‘Locking Arms With Providers’

Philips is looking beyond COVID-19 and to building more partnership-based relationships in health care delivery

 
• By Ashley Yeo

Royal Philips would not routinely invest 10% of its sales in R&D without working with providers to discover their precise needs, says CEO Frans van Houten.

Hands
• Source: Shutterstock

Provider customers are “daring” in ever greater numbers to make the move from a transactional to a strategic relationship by entering long-term partnerships with technology. It is a trend that pleases Royal Philips CEO Frans van Houten, who announced that 14 such deals had been signed by Philips in the past quarter alone.

The revenues and profits of the Dutch medical technology and data analytics company in the second quarter of 2020 were affected by the COVID-19 pandemic: the topline saw a 6% comparable sales decrease overall, with personal health and diagnostic/treatment sales declining by 19% and 9%,

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