Philips to private-label Demant hearing aids

Demant, Philips

William Demant (CPH:WDH) said this week that it inked a deal to market its line of hearing aid devices under Royal Philips (NYSE:PHG) brand.

Denmark-based Demant said that Amsterdam-based Philips will offer a complete range of hearing aids, accessories and applications under the Philips HearLink brand

“Based on a shared vision of improving the lives of people through innovative healthcare this new cooperation will not only change the way we see hearing healthcare, but also widen the definition of hearing healthcare, supporting healthier lifestyles and active aging. Combining Demant’s world-leading hearing aid technology with Philips’ global brand presence in healthcare, the cooperation will enrich the hearing healthcare experience,” Philips brand licensing senior director Spencer Ramsey said in a prepared statement.

The companies said that the HearLink devices can be connected to other devices, including smartphones and televisions, and that the products are available now.

“The Philips hearing aids will provide users with an innovative, future-proof hearing solution. We live in an age where user engagement and digital services are shaping the future of healthcare technology. More and more people are conscious of taking control of their own personal healthcare and are using electronic devices to do so. In this light, Philips hearing solutions offers new and exciting premium solutions alongside Philips’ healthcare ecosytem, which will attract interest and generate significant benefits to users, ultimately supporting our valued customer base of hearing care professionals. With this partnership, we take connected hearing healthcare to the next level and offer new and exciting solutions within integrated healthcare services to the benefit of both professionals and people suffering from a hearing loss. Health, caring and innovation are cornerstones in the vision of both Demant and Philips, which makes the partnership a great match for the future. Furthermore, it will strengthen and add value to both companies’ ambition to improve people’s lives,” Demant prez & CEO Søren Nielsen said in a press release.

Earlier this month, Philips won a $450 million contract to supply the U.S. Department of Defense with patient monitoring systems, accessories and training.

Philips wins $450m DoD patient monitor supply contract

Philips

Royal Philips (NYSE:PHG) has won a $450 million contract to supply the U.S. Department of Defense with patient monitoring systems, accessories and training, according to a recently released DoD posting.

The deal comes through a five-year base contract with a single five-year option period. A total of 36 different companies competed for the contract that Amsterdam-based Philips won, according to the DoD release.

Patient monitoring systems, accessories and training will be supplied to the Army, Navy, Air Force, Marine Corps and other federal civilian agencies, with the location of performance noted as Massachusetts. The contract has a performance completion date of March 28, 2024, according to the release.

The contracting was performed through the Defense Logistics Agency Troop Support, the DoD said.

Last week, Philips said that it acquired teleradiology platform developer Direct Radiology for an undisclosed amount.

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Philips buys Direct Radiology

Philips

Royal Philips (NYSE:PHG) said this week that it acquired teleradiology platform developer Direct Radiology for an undisclosed amount.

The Amsterdam-based company said that with the acquisition it will be expanding into the teleradiology services field, looking to build on its cloud-based radiology informatics portfolio.

New features slated to be added include teleradiology viewing and reporting capabilities, on-call radiologist services and related exam workflow enhancement applications.

Philips said that currently, Direct Radiology services more than 300 hospitals, imaging centers, mobile imaging services and doctors’ offices across the U.S.

“As health systems worldwide struggle with the ever increasing costs and shortage of care providers, teleradiology will be a key enabler to optimally use the available resources, and support radiology departments to improve the speed and accuracy of image interpretation. We see imaging as a system and deliver innovation to support the needs of all the people behind the images by seamlessly integrating technology and data. Our new teleradiology services address a pressing need, while providing a strong platform for Philips’ future growth in the telehealth market,” radiology solutions biz lead Sham Sokka said in a press release.

Earlier this month, Philips released results from a study exploring the use of adaptive servo ventilation in treating patients with complex sleep apnea.

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Philips touts adaptive servo ventilation sleep apnea study data

Philips

Royal Philips (NYSE:PHG) yesterday released results from a study exploring the use of adaptive servo ventilation in treating patients with complex sleep apnea.

Results from the study were published in the American Journal of Respiratory and Critical Care Medicine, the Amsterdam-based company said.

Investigators in the study compared the performance of four different ASV devices, including Philips’ DreamStation BiPap autoSV, as well as an ASV device originally associated with greater mortality during the SERVE-HF trial published in 2015, the company said.

“The pursuit for scientific understanding of various disease and treatment processes is an iterative process where we revisit successes and failures to deepen our understanding of disease processes. It’s imperative we keep this in mind and re-visit previous studies when technological advancements show promise for a certain type of therapy. Today, ASV isn’t used in certain clinical settings due to safety concerns associated with the therapy in patients with congestive heart failure and predominantly central sleep apnea. Now, through devices with smarter algorithms, providers can potentially ensure that patients are getting the right treatment and thereby improve treatment approaches in patients with complex or central sleep apnea,” lead study investigator Dr. Sairam Parthasarathy of the University of Arizona College of Medicine said in a prepared statement.

Data from the new trial suggests that certain physiological performances were different across different devices, and that the mechanisms underlying adverse effects of ASV may be secondary to excessive ventilation due to device-based effect rather than a class-effect, Philips said.

“Philips provides healthcare professionals and patients with innovative treatment solutions and services. The safety of patients who use our devices is our top priority. We also wish to maximize the benefits that patients receive from using our technology. As a science company, we are obligated to understand why and how ASV in the SERVE-HF trial can be associated with increased risk of mortality in patients with central sleep apnea and severe heart failure. Future research is needed to confirm if excessive ventilation during wakefulness and sleep due to device-specific ASV algorithms can result in potentially life-threatening consequences, especially in patients with heart failure,” Philips chief medical liaison Dr. Teofilo Lee-Chiong said in a press release.

Earlier this month, Carestream Health said that it agreed to deal its imaging IT business to Philips for an undisclosed amount.

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Philips to pick up Carestream Health’s imaging IT biz

CarestreamCarestream Health said today that it inked a deal to deal its imaging IT business to Royal Philips (NYSE:PHG) for an undisclosed amount.

“We have had global success in providing radiology and enterprise imaging IT systems to help medical professionals provide quality care and enhance their operations,” Carestream HIS GM Ludovic d’Aprea said in prepared remarks. “By becoming part of Philips, the HCIS business will have a greater opportunity to thrive and grow. Both organizations share a commitment to meaningful innovation which is deeply embedded in each company’s culture. Customers will have access to a broader portfolio of healthcare IT solutions to simplify medical image management, enable effective collaboration and enhance patient care.”

“Philips partners with global healthcare providers to connect people, information and technology with the commitment to deliver on the Quadruple Aim of improved patient experiences, better health outcomes, improved staff experiences, and lower costs of care,” added Philips precision Dx chief Robert Cascella. “This acquisition will enhance our ability to provide flexible solutions to hospitals and health systems. The combination of our successful innovations in imaging system platforms, workflow optimization and artificial intelligence-enabled informatics, combined with Carestream’s cloud-based enterprise imaging informatics platform and complementary geographic footprint will provide a solid foundation to deliver on the promise of precision diagnosis.”

Rochester, N.Y.-based Carestream said it’s keeping its medical imaging, dental & industrial films, non-destructive testing and precision coating businesses.

“These established businesses have solid financial foundations, innovative technology platforms and have earned the trust of loyal customers around the world,” chairman, president & CEO David Westgate said. “Our focus will be on delivering innovation that is life changing – for patients, customers, channel partners, communities and other stakeholders – and we will grow the company for long-term success.”

The deal is expected to close during the second half of the year, Carestream said.

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Philips launches Epiq Elite ultrasound system

Philips

Philips (NYSE:PHG) said yesterday that it launched its new Epiq Elite ultrasound system.

The newly launched system from the Amsterdam company contains its “latest advances in transducer innovation,” as well as its first solution for vascular assessment and diagnosis.

“Our new portfolio of dedicated systems and solutions based on the EPIQ Elite combines new display technology, innovative transducers, advanced software and enhanced processing power. With one in four stroke cases caused by vascular disease of the carotid artery in the neck, vascular health is a growing concern worldwide. Ultrasound is the ideal imaging technology to help clinicians make a more precise diagnosis, which is why today we’re announcing our first dedicated solution for vascular assessment and diagnosis,” general imaging and women’s healthcare ultrasound biz lead Jeff Cohen said in a press release.

Philips said that the device comes equipped with an xMatrix linear transducer, which produces 3D vascular images to allow clinicians to see into a vessel and evaluate plaque spatial location and composition and view 3D flow data for quickly assessing stenotic conditions.

“Not much has changed in vascular ultrasound until this release of the ultimate ultrasound solution for vascular assessment. The combination of a new transducer and advances in software makes the assessment and diagnosis of vascular conditions through easy to interpret images. There is now a case to be made for ultrasound solutions to be used as a potential alternative to other imaging modalities in the current standard of care,” Muhammad Hasan of the Baptist Hospital of Miami’s Miami Cardiac & Vascular Institute said in prepared remarks.

Late last month, Philips and the American Heart Association announced a partnership aiming to increase sudden cardiac arrest survival rates in densely populated cities around the world.

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Philips faces $69m hit from Trump trade war

PhilipsThe CEO of Royal Philips (NYSE:PHG) told analysts today that the Dutch healthcare giant is looking at a $69 million hit from Donald Trump’s trade war with China, as it transfers hundreds of millions worth of production between the countries.

“This is not peanuts,” Frans van Houten said today during a conference call to discuss Philips’ fourth-quarter and 2018 results, according to Reuters. “These are serious changes to our supply chains.”

The company said it still expects the trade war to deliver a €60 million ($68.5 million) hit to core profits this year.

Fourth-quarter profits were €678 million, or €0.91 per share, on sales of €5.59 billion during the three months ended Dec. 31, 2018, down -24.6% and up 5.3%, respectively, compared with the same period in 2017. Full-year profits were down -41.3% to €1.10 billion, or €1.75 per share, on sales growth of 1.9% to €18.12 billion.

The results, which topped expectations, plus a proposed dividend hike and a €1.5 billion stock buyback, sent PHG shares up 2.1% to $37.69 apiece in New York this morning.

“We continued to make progress during the year and delivered 5% comparable sales growth in the fourth quarter, with good mid-single-digit growth in our diagnosis & treatment businesses, low-single-digit growth in our personal health businesses in line with our expectations for this year, and higher IP royalties. I am encouraged by the comparable order intake growth in the connected care & health informatics businesses, which drove the 10% comparable order intake growth for the group. The adjusted EBITA margin improved by 70 basis points, despite a 40-basis-points adverse currency effect,” van Houten said in prepared remarks. “We reaffirm our overall targets of 4% to 6% comparable sales growth and an adjusted EBITA margin improvement of 100 basis points on average per year for the 2017–2020 period.”

($1 = €0.876001)

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Docs plan industry collab to study paclitaxel devices

VIVA Physicians logoNon-for-profit org Viva Physicians said yesterday that it will lead a pan-industry effort to study the use of paclitaxel-eluting devices for the treatment of peripheral artery disease in above-the-knee applications.

The initiative comes on the heels of a meta-analysis published in the Journal of the American Heart Association this month showing a potential link between increased long-term mortality outcomes and paclitaxel devices.

Get the full story at our sister site, Drug Delivery Business News.

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Philips touts new gantry design for Azurion

Philips Azurion with FlexArmPhilips (NYSE:PHG) today touted the launch of its Azurion with FlexArm, which the company said enables physicians to more easily perform image-guided procedures.

As the clinician moves the system, the image bean maintains alignment with the patient and provides consistent visualization, according to Philips.

Azurion with FlexArm moves on eight axes, controlled by the Axsys controller. In simulation tests, use of the system significantly reduced patient repositioning. This is of particular importance during minimally invasive procedures that require access through the patient’s wrist, Philips said, because it reduces the risk of unintentional pulling of wires and tubes.

Philips launched Azurion in February of 2017 and more than 450,000 people have been treated around the world since then, according to the Amsterdam-based company.

“With FlexArm, Philips’ engineers have overcome near-impossible geometric and mechanical barriers to enable clinicians to achieve clinical excellence in image-guided therapy,” Dr. Barry Katzen, founder & CMO of the Miami Cardiac & Vascular Institute, said in prepared remarks.

“FlexArm enables us to dramatically optimize procedures around the patient: we can get the optimal view of what’s going on inside the patient without encumbering all of the clinicians that are working around the table. The result is an innovation that’s not only clinically important but also very simple and intuitive to use – a critical factor in the heat of a complex procedure,” Katzen added.

“Two years on from its launch, Azurion is now established as our leading platform for interventional procedures, favored by clinicians for its intuitive, seamless approach that enables them to focus on treating the patient, and by hospital administrators for its positive impact on productivity and efficiency,” Ronald Tabaksblat, business leader for Philips’ image guided therapy systems unit, said. “FlexArm is the natural next step in our Azurion innovation journey, combining clinical and operational benefits to improve patient care and reduce costs, while opening up opportunities for new image-guided procedures as the field continues [sic] grow.”

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Philips rejiggers, promotes image-guided therapies head van Meurs

PhilipsRoyal Philips (NYSE:PHG) said today that it’s rejiggering its corporate structure and promoting the head of its image-guided therapies business to its executive committee.

The Dutch healthcare giant said the changes include shifting sleep & respiratory from the personal health segment to the new connected care division and moving healthcare informatics into the diagnosis & treatment segment.

Under the new structure Philips has thee divisions, effective Jan. 1:

  1. The diagnosis & treatment business, including diagnostic imaging, ultrasound and healthcare informatics, is led by Rob Cascella. Bert van Meurs, newly elevated to the executive committee, leads the image-guided therapy business under the Dx & treatment umbrella.
  2. The connected care business now includes monitoring & analytics, therapeutic care, population health management and sleep & respiratory care, led by Carla Kriwet.
  3. The personal health segment includes personal care, domestic appliances, oral healthcare and mother & child care and is led by Roy Jakobs.

“The appointment of Bert van Meurs as a new member of the executive committee reflects the growth of our image-guided therapy businesses,” CEO Frans van Houten said in prepared remarks. “To strengthen our leadership in this fast-growing market, we have significantly invested in our R&D programs which resulted in the launch of the very successful Azurion next-generation image-guided therapy platform, and the acquisitions of Volcano, Spectranetics and most recently EPD Solutions, which enabled the expansion into smart devices such as diagnostic and therapeutic catheters.”

Philips also reinforced its guidance for 2017 to 2020, saying it still expects to log 4% to 6% comparable sales growth and add 100 basis points to its adjusted EBITA margin. The company also doubled down on its pledge to improve organic return on invested capital to mid-to-high-teens levels in 2020. The target for annual free cash flow is more than €1.5 billion in 2020, Philips said.

The company plans to release its full fourth-quarter and 2018 results Jan. 29.

PHG shares, which closed up 3.0% at $35.47 apiece yesterday in New York, were off -0.8% to $35.19 each in pre-market trading today.

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