DreamSTATE

Philips delivers improved operational performance driven by sales growth and focus on execution

Retrieved on: 
Monday, July 24, 2023
Workforce, Informatics, Amazon Web Services, Partnership, Respironics, Personal health record, University, Justice, Bed, Comparable, Q2, Health, Electricity, Organic compound, Carbon, Spectral, Wind, DreamSTATE, EUR, Medical imaging, Hospital, Patient, Patient safety, Physician, Particulates, Philips, Growth, Diagnosis, FDA, Trauma, Adjustment, Treatment, Pet industry, Lithium, Pharmaceutical industry, Music, Ultrasound, Personal care, Ali Baba

We delivered 9% comparable sales growth, increased profitability and improved cash flow, against a backdrop of ongoing macroeconomic and geopolitical challenges.

Key Points: 
  • We delivered 9% comparable sales growth, increased profitability and improved cash flow, against a backdrop of ongoing macroeconomic and geopolitical challenges.
  • Sales for the Group increased to EUR 4.5 billion, with 9% comparable sales growth, driven by growth across all segments and geographies.
  • Diagnosis & Treatment comparable sales increased 12% in the quarter, with double-digit growth in Ultrasound and Image-Guided Therapy, and mid-single-digit growth in Diagnostic Imaging.
  • Personal Health returned to growth as comparable sales increased by 3%, driven by mid-single-digit growth in Personal Care.

Philips provides update on completed set of test results for CPAP/BiPAP sleep therapy devices

Retrieved on: 
Tuesday, May 16, 2023
DreamSTATE, Ozone, PHG, Respironics, Philips, FDA, CPAP, NYSE, Risk, Laboratory, AEX, Medical device

*

Key Points: 
  • *
    The risk assessments have now been completed for the CPAP/BiPAP sleep therapy devices under the recall notification/field safety notice* i.e., the first-generation DreamStation, System One and DreamStation Go devices, representing approximately 95% of the registered devices globally.
  • Additionally, tests and analyses have been completed for first-generation DreamStation devices that have been exposed to ozone cleaning.
  • Philips Respironics has provided the summary of the completed set of test results and analyses for the CPAP/BiPAP sleep therapy devices to the FDA and other competent authorities.
  • The FDA is still considering the data and analyses that Philips Respironics has provided and may reach a different conclusion.

Philips delivers solid operational performance as supply chain improves and actions to enhance execution start to take effect

Retrieved on: 
Monday, April 24, 2023
Workforce, Informatics, Partnership, Respironics, Personal health record, Clarivate, Justice, Action Replay, Comparable, Parent, European Patent Office, VOC, EBITA, Sonicare, Carbon, Northwell Health, Radiology, Google Images, DreamSTATE, EUR, Medical imaging, Trust, Patient, Patient safety, European Patent Convention, Growth, Philips, Global Innovation Index, Cardiology, Adjustment, FDA, Health, Champalimaud Foundation, Diagnosis, Treatment, Personal injury, Caregiver, Lithium, Pharmaceutical industry, Medical device, Risk management, Video game, Ultrasound

We are executing on our three priorities to enhance patient safety and quality, strengthen our supply chain reliability, and establish a simplified, more agile operating model.

Key Points: 
  • We are executing on our three priorities to enhance patient safety and quality, strengthen our supply chain reliability, and establish a simplified, more agile operating model.
  • Our supply chain improvements enabled good growth across the Diagnosis & Treatment businesses and in Hospital Patient Monitoring.
  • I have met many of them in the last few months, and it is clear that Philips remains a preferred innovation partner.
  • In the US, an economic loss class action, a medical monitoring class action and personal injury claims have been filed.

Philips sees some improvement in Q4 2022 and takes firm actions to address operational challenges in an uncertain environment

Retrieved on: 
Monday, January 30, 2023
Carbon, Treatment, Patient safety, Justice, EBITA, Research, Philips, RSNA, IVUS, Beth Israel Deaconess Medical Center, Personal health record, Acquisition, Hospital, Comparable, COVID, CDP, Patient, Personal injury, Respiratory system, Smith Center, FDA, Adjustment, JD, Carbon Disclosure Project, Catheter, Respironics, Personal, Outcome, Growth, Workforce, Radiology, Diagnosis, Male, DreamSTATE, EUR, Film, Holding company, Pharmaceutical industry, Risk management, Medical imaging, Sleep, Ultrasound

As we are working through the operational challenges, we progressed on our execution priorities in the fourth quarter.

Key Points: 
  • As we are working through the operational challenges, we progressed on our execution priorities in the fourth quarter.
  • We were able to secure more components to convert our order book into sales, although the supply chain situation remains challenging.
  • The previously announced workforce reduction by 4,000 roles globally and other actions are being implemented as planned.
  • In 2022, Philips’ products and solutions improved the lives of 1.8 billion people, including 200 million people in underserved communities.

Philips provides update on completed set of test results for first-generation DreamStation sleep therapy devices

Retrieved on: 
Wednesday, December 21, 2022
Ozone, NYSE, Philips, AEX, Laboratory, Non-invasive ventilation, Respironics, PHG, DreamSTATE, CPAP, Medical device

Following previous updates in December 2021 and June 2022 , additional test results and assessments have now been completed for the first-generation DreamStation devices (approximately 68% of the registered devices globally).

Key Points: 
  • Following previous updates in December 2021 and June 2022 , additional test results and assessments have now been completed for the first-generation DreamStation devices (approximately 68% of the registered devices globally).
  • These devices have not been exposed to ozone cleaning in line with the instructions for use.
  • The test and research program has been conducted together with five independent, certified testing laboratories, and the results have been reviewed and assessed by third-party qualified experts and Philips Respironics, as well as an external medical panel.
  • * Voluntary recall notification in the US/field safety notice for the rest of the world.

Philips' performance impacted by headwinds; order book strength and improving component supplies expected to deliver growth and profitability improvement from second half of 2022 onwards

Retrieved on: 
Monday, July 25, 2022
Income, Diagnosis, OB/GYN, Algorithm, Treatment, Philips, Hospital, Health, EUR, Personal health record, Solution, Informatics, Advertising, DreamSTATE, 3D, Compression, CPAP, Personal, SENSE, NMPA, Tack, Leadership, Respironics, Medical imaging, Share repurchase, FDA, Company, Patient, COVID, Cardiology, Non-invasive ventilation, Efficiency, Justice, Growth, Adjustment, Moyamoya disease, AI, Prevalence, Comparable, Film, Medical device, Renewable energy, Pharmaceutical industry, Security (finance), Group

The positive impact of these actions, together with the strength of our order book and improving component supplies, give me confidence that we will resume growth from the third quarter onwards, resulting in 6-9% comparable sales growth and improved profitability in the second half of the year.

Key Points: 
  • The positive impact of these actions, together with the strength of our order book and improving component supplies, give me confidence that we will resume growth from the third quarter onwards, resulting in 6-9% comparable sales growth and improved profitability in the second half of the year.
  • For the full-year 2022, we expect to deliver 1-3% comparable sales growth and around 10% Adjusted EBITA margin.
  • In the second quarter, comparable order intake increased 1% and includes a 5 percentage-points negative impact related to China.
  • In our Personal Health businesses, we delivered a second consecutive quarter of double-digit comparable sales growth in North America.

Philips provides update on Philips Respironics’ PE-PUR sound abatement foam test and research program

Retrieved on: 
Tuesday, June 28, 2022
Review, FDA, Respironics, Decision-making, ISO 10993, Patient, PM, CEO, Volatile organic compound, Health care, AEX, CPAP, VOC, DreamSTATE, Trilogy, FAQ, Philips, JPN, Prevalence, Inhalation, Organic compound, ISO, EU, Particulates, NYSE, Cytotoxicity, Health, Quality of life, Irritation, Ozone, Non-invasive ventilation, Safety, Biocompatibility, PHG, Medical device, Environmental remediation, Risk management, Paint

Philips will continue to provide regular updates as new test results and assessments become available, as not all tests have been completed to date.

Key Points: 
  • Philips will continue to provide regular updates as new test results and assessments become available, as not all tests have been completed to date.
  • Within each device category, testing and analyses are performed on new devices with pristine foam, devices with lab-aged foam and used devices:
    Visual assessment of the foam in returned/used devices to assess the prevalence of visible foam degradation.
  • Additional physical, chemical and biological testing of the PE-PUR foam related to patient risks if patients were in contact with foam material.
  • Prevalence of visible foam degradation (US and CA): 164 of 36,341 (0.5%) devices with self-reported no ozone use showed significant visible foam degradation.

Philips Respironics provides update for the US on ongoing CPAP, BiPAP and Mechanical Ventilator field action

Retrieved on: 
Friday, March 11, 2022
DreamSTATE, ISO, PHG, Risk, OSA, Ozone, PAP, VOC, FDA, Cancer, AEX, Sleep, Critical Care Medicine (journal), Constance MacKenzie, American Journal of Respiratory and Critical Care Medicine, Obstructive sleep apnea, NYSE, American Journal, Patient, CPAP, US Foods, Respironics, Food, Association, Awareness, DME, Medical device, Pharmaceutical industry

Philips Respironics is working cooperatively with the US Food and Drug Administration (FDA) to further increase awareness for patients, consumers, and healthcare providers of the recall.

Key Points: 
  • Philips Respironics is working cooperatively with the US Food and Drug Administration (FDA) to further increase awareness for patients, consumers, and healthcare providers of the recall.
  • In addition, Philips Respironics continues to utilize its current mobile application, DreamMapper, to send notifications to patients and consumers utilizing the application with information regarding the field action.
  • For example, as directed by FDA, Philips has prominently published information on the risk of using ozone cleaners on the landing page of the Philips Respironics field action website .
  • [1] Philips Respironics monthly surveys indicate that nearly 80% (aggregate data) of responding Philips Respironics CPAP users in the US confirmed they were aware of the recall.

Philips delivers Q4 sales of EUR 4.9 billion and income from continuing operations of EUR 139 million; Adjusted EBITA margin amounts to 13.1%, operating cash flow is EUR 720 million; good demand drives mid-single-digit order intake growth

Retrieved on: 
Monday, January 24, 2022
Spectral, Personal health record, Algorithm, Zhengzhou University, Science and technology in Asia, EUR, The First Affiliated Hospital of Wenzhou Medical University, Respironics, AI, Philips, Medical imaging, Personal, Technology, CDP, IVUS, COVID-19, ISO, Adoption, Climate change, Treatment, FDA, Hospital, Biotelemetry, Sonicare, Comparable, Hospital, patients, health, territories, Stiftung Warentest, Diagnosis, Growth, Income, Share repurchase, Solution, Health, Program, CT, Workflow, Machine learning, Acquisition, First Affiliated Hospital of Xinjiang Medical University, VOC, Multan Institute of Cardiology, Bed, ECG, Â, DreamSTATE, Infection, Film, Commercial property, Pharmaceutical industry, Fine chemical, Medical device, Cassette tape, Adjustment, Ultrasound, Group

This further builds on the high-single-digit Group comparable order intake growth in 2020, resulting in an all-time-high order book.

Key Points: 
  • This further builds on the high-single-digit Group comparable order intake growth in 2020, resulting in an all-time-high order book.
  • Based on good customer demand and our growing order book, we expect to resume our growth and margin expansion trajectory in the course of 2022.
  • For the Group, we target 3-5% comparable sales growth and a 40-90 basis-points improvement in Adjusted EBITA margin.
  • For the full year, the Diagnosis & Treatment businesses recorded 8% comparable sales growth and an Adjusted EBITA margin of 12.4%.

Philips provides update on its financial performance in Q4 2021

Retrieved on: 
Wednesday, January 12, 2022
Patient, VOC, Organic compound, Volatile organic compound, Houten, CET, NYSE, Growth, Diagnosis, CEO, Solution, Philips, Acquisition, PHG, EUR, AEX, Heart, DreamSTATE, EBIT, Respironics, Treatment, Hospital, Cassette tape, Pharmaceutical industry, Medical device, Group, Income

Amsterdam, the Netherlands Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today provided an update on the fourth-quarter 2021 and full-year 2021 financial results.

Key Points: 
  • Amsterdam, the Netherlands Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today provided an update on the fourth-quarter 2021 and full-year 2021 financial results.
  • Group sales for the quarter are expected to be approximately EUR 4.9 billion, which is around EUR 350 million lower than Philips earlier expectations.
  • The comparable sales [1] decline was approximately 10%, mainly due to these effects and the impact of the earlier announced Philips Respironics recall .
  • In December 2021, Philips provided an update on the positive VOC test results to date for the first-generation DreamStation devices.