Philips Healthcare Medical Device Company Intelligence Report

Date: April 22, 2011
Pages: 88
Price:
US$ 515.00
Publisher: Espicom Business Intelligence
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: P4980F25AFBEN
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Philips Healthcare Medical Device Company Intelligence Report
Headquartered in Best, the Netherlands, and Andover, Massachusetts, the US, Philips Healthcare is part of the multinational electronics giant, Royal Philips Electronics Group. At the beginning of 2008, Philips realigned its business activities into three separate ‘sectors’ – Healthcare, Lighting and Consumer Lifestyle – each of which was made responsible for the management of its businesses worldwide. Philips Healthcare was formed through the combination of the former Medical Systems and Home Healthcare Solutions divisions, the latter of which had been hived off from Philips’ Innovation and Emerging Businesses unit.

Bolstered by the product lines and research activities of smaller rival companies that have been acquired in recent years, Philips Healthcare offers a broad portfolio of medical systems. Its product line includes X-ray, ultrasound, magnetic resonance (MR), computed tomography (CT), fluoroscopy and nuclear medicine imaging technologies, as well as patient monitoring, information retrieval and management systems and resuscitation, perinatal care, temperature management and hospital and home respiratory, ventilation and sleep management products. Philips Healthcare also offers a wide range of services to support its businesses. Philips Healthcare is a leader in many of the markets in which it participates and, in the financial year ended 31st December 2010, had sales of EUR8.6 billion.

Central to Philips Healthcare’s strategy is the aim of achieving a leading position in the high-growth sector of home healthcare. Given the unsustainably high healthcare costs in many markets and increased emphasis on both efficiency and patient comfort, there is a growing shift towards diagnosing, treating and monitoring patients in their homes, rather than in hospitals. Demand for home healthcare is also growing due to the increasing number of elderly people and the rising incidence of chronic diseases.

Consequently, Philips adopted an aggressive merger and acquisition policy with regards to the home healthcare market. Key purchases have included Lifeline Systems, Health Watch and Raytel Cardiac Services. Its most important acquisition made to date in connection with this strategy was the 2008 purchase of US-based Respironics, for a total consideration of US$5.1 billion. At the time of the transaction, Respironics was the global leader in the treatment of obstructive sleep apnoea (OSA), a sleep disorder characterised by the repeated cessation of breathing during sleep. The purchase also gave Philips access to a substantial non-invasive ventilation solutions business, and this is being augmented with further strategic acquisitions. Most importantly, however, is that Philips is no longer heavily reliant on its imaging systems business (affected by softening demand in the key North American market, increased competition and customers’ reluctance to invest in new equipment during the economic slowdown).

At the same time, Philips has also been expanding its healthcare informatics business. In the hospital market, Philips strengthened its global leadership in critical care with the purchase of VISICU, which provides advanced IT solutions for monitoring patients in the intensive care unit. This purchase complemented the earlier acquisitions of Emergin (a provider of alarm management and event notification software and solutions) and Ximis (a provider of web-based radiology information systems (RIS)). Philips went on to buy Ireland-based TOMCAT Systems (a provider of cardiovascular information systems), Wheb Sistemas and Tecso Informatica (both Brazil-based suppliers of information systems), and CDP Medical, an Israeli provider of picture archiving and communication systems (PACS). Philips aims to expand the use of information technology in healthcare to improve patient outcomes and help hospitals work more efficiently.

Emerging markets are also of growing importance to Philips Healthcare, where investment in healthcare aimed at low-income demographic groups is now being prioritised by both state and private healthcare institutions. Here, Philips is establishing or ramping-up its manufacturing presence in low-cost economies and has bought strategic operations in India, China and Brazil that have come with existing diagnostic imaging, patient monitoring and critical care product lines. The company has also established a manufacturing joint venture to develop and produce imaging products for the Russian market. Philips believes that emerging healthcare markets, such as Latin America (which it claims is growing at twice the rate of developed markets), represent a real growth opportunity for its Healthcare business.

This company report provides

Overview

Key contact information
Introduction to the company and its current activities
Summary of its financial performance
Who are the company’s major competitors?
Key recent events in an “at a glance” format

Financial Review

Current year and annual financial data, including revenue breakdowns by product area and geographic region (if available)
Table providing in-depth five-year financial analysis
Employee data, including breakdown by company division and geographic location

Strategic Focus

Investigates the company’s aims and its areas of focus

Products

Core product areas, key brands, product approvals and launches

Research and Development

How much has been invested in R&D?
Where is the research based?
What alliances and agreements does the company have and with whom?

Manufacturing and Distribution

Identifying the company’s manufacturing locations
Sales and marketing facilities

Agreements

With whom has the company reached agreements and what do they involve?
Key contracts awarded

Mergers, Acquisitions, and Divestments

Key Corporate Events
OVERVIEW

FINANCIAL REVIEW

First Quarter 2011 Financial Results
  Philips Electronics
  Philips Healthcare
2010 Financial results
  Philips Electronics
  Philips Healthcare
Five-Year Financial Data
Outlook
Employees

STRATEGIC FOCUS

Healthcare Strategy

PRODUCTS

Imaging Systems
  Market Environment
  General X-Ray
    Digital Radiography
    Computed Radiography
    Conventional Radiography
    Mobile Radiography
    Mammography
  Cardiovascular X-ray Products & Electrophysiology
  Fluoroscopy
  Mobile C-arms
  Computed Tomography
  Magnetic Resonance Imaging
  Nuclear Medicine
  Radiation Oncology Systems
  Ultrasound
  Interventional X-ray
  Hybrid Operating Rooms
Patient Care & Clinical Informatics
  Clinical Informatics
    Software Applications and Workstations
  Patient Care
    Patient Monitors
    Foetal and Maternal Monitors
    Jaundice Management
    Emergency Care & Resuscitation
    ECG Solutions
  Hospital Respiratory Products
  Temperature Modulation Therapy
Home Healthcare Solutions
  Respiratory Care
  Sleep Disorder Breathing/Home Respiratory Products
    Sleep Diagnostic Systems
  Medical Alert Services
    TeleHealth
  Home Cardiac Monitoring
    HeartStart Home Defibrillator
    Children’s Medical Ventures

RESEARCH AND DEVELOPMENT

R&D Expenditure
Research Establishments
  The Netherlands
  Germany
  UK
  China
  India
  US
  Russia
Research Projects and Agreements
  Optical Imaging to Aid Breast Cancer Detection
  Magnetic Particle Imaging Technology (MAPIT) Consortium
  Vu University Medical Center
  EIB Loan
  Philips’ Multi-Colour CT Scanner
  HYPERImage
  Digital Pathology Laboratory Solutions
  Fully-Digital Light Detection Technology
  ThermoDox and MR-Guided HIFU
  GlyGenix Therapeutics
  Immunetrics
  Bard Electrophysiology
  SonoDrugs Project
  NeuroNexus Technologies
  King’s College, London
  University Medical Centre Utrecht
  Maastricht University Medical Centre and University Medical Center Aachen
  West China Hospital
  MediGuide
  HeartCycle Project
  euHeart Project
  ImaRx Therapeutics
Studies
CARME

MANUFACTURING

AGREEMENTS

NEC
Corindus
Microsoft
  Speeding the delivery of health information
Hansen Medical
Definiens
Atom Medical
SpineMark
Dako
Noninvasive Medical Technologies
Boston Scientific
Electron
Project HOPE
Orion Health
Sectra
Edwards Lifesciences
bioMérieux
Dilon Diagnostics
Bruker BioSpin
Maquet
Sant Pau Hospital
Covidien
Capsule Technologie
University Medical Centre Hamburg-Eppendorf (UKE) and PRAGMA
Medusa Medical Technologies
Concateno
STERIS Corporation
Dubai Health Authority
Skytron
Amirsys
BrainLAB
Ascent Profit
GeneGo
Research Corporation Technologies
Volcano Corporation
Bioscan
Biosense Webster
University Health Network
Telzuit Medical Technologies
EDDA Technology
Laerdal
Fukuda Denshi
LiDCO
Masimo
EP MedSystems
Epic Systems
Nellcor
Stereotaxis
Pulsion Medical Systems
CardioDynamics
Analogic
RaySearch Laboratories
Aspect Medical Systems
Sun MicroSystems (Oracle)
Oridion Medical
LifeGuard Medical Solutions
Civco Medical Instruments (Roper Industries)

MERGERS AND ACQUISITIONS

Dameca
medSage Technologies
Wheb Sistemas
Burton Medical Products
CDP Medical
Shanghai Apex Electronics Technology
Tecso Informatica
Siesta Group assets (Somnolyzer)
InnerCool Therapies
Traxtal
Medel’s Aerosol Therapy Business
Meditronics
Alpha X-Ray Technologies
Dixtal Biomédica e Tecnologia
Shenzhen Goldway Industrial
TOMCAT Systems
Respironics
Visicu
Emergin
Raytel Cardiac Services
Ximis
VMI-Sistemas Medicos
Intermagnetics General
Witt Biomedical
Stentor
Richardson Electronics' Medical Glassware Business
Agilent Technologies’ Healthcare Solutions Group
Marconi Medical Systems
Medcare
ADAC Laboratories
CardioLogica
Anesthesia Recording
Zymed
ATL Ultrasound
Heartstream

MINORITY INVESTMENTS

Corindus
Gilde Healthcare III
Immunetrics
BG Medicine
Kereos

JOINT VENTURES

Philips Neusoft Medical Systems Co Ltd
Trixell

DIVESTITURES

DNA/RNA Molecular Diagnostic Testing Platform
SHL Telemedicine
FIMI
MedQuist
Cozart/Concateno
Philips HeartCare Telemedicine
Speech Processing Telephony and Voice Control Business Units
HealthCare Products Group
Philips Hearing Implants
Pie Medical

LITIGATION

Masimo

KEY CORPORATE EVENTS

LIST OF TABLES

SUMMARY OPERATING RESULTS
Recent Key Events
Royal Philips Electronics - First Quarter 2011 Financial Results
Royal Philips Electronics - First Quarter 2011 Sales and Operating Income by Business Segment
Philips Healthcare - Key Financial Data, First Quarter 2011
Philips Healthcare - Sales by Product Sector, 12 months to March 2011
Philips Healthcare - First Quarter 2011 Sales by Geographic Region
Royal Philips Electronics - Annual Financial Results, 2006-2010
Royal Philips Electronics - Annual Sales by Business Segment, 2007-2010
Philips Healthcare - Annual Financial Results, 2007-2010
Philips Healthcare - Annual Sales by Geographic Area, 2007-2010
Philips Electronics – Five-Year Financial Summary
Philips Group - Employees by Business Sector, 2007-2010
Global Imaging Systems Market by Geographic Area, 2009
Philips - Key Nuclear Medicine Products, April2011
Philips - Ultrasound Products by Category, 2010
Philips - Selected Key Home Respiratory Products
Philips - Annual R&D Expenditure, 2007-2010
Philips Healthcare - Major Manufacturing Locations
Agreements Summary
Mergers and Acquisitions Summary

LIST OF CHARTS

Philips Electronics - Annual Sales and Operating Income, 2006-2010
Philips Electronics - Annual Sales by Business Segment, 2007-2010
Philips Electronics - 2010 Sales by Business Segment
Philips Healthcare - Annual Sales and Operating Income, 2007-2010
Philips Healthcare - 2010 Sales by Product Area
Philips Healthcare - Annual Sales by Geographic Area, 2007-2010
Philips – A Simplified Business Portfolio, 2000 to 2010
Philips Healthcare – 2010 Sales by Product Area
Global Imaging Systems Market, 2009
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