Philips

Founded: 1891

Headquarters: Amsterdam, Netherland

Revenue: 19,5 Billion EUR

Website: https://www.philips.com/global

Philips is a diverse technological corporation with almost a century of experience. Diagnosis & Treatment, Connected Care, and Personal Health make up Philips' healthcare segment, which accounts for 42 percent of the company's global sales. Philips' health goods and solutions grew by 6% year over year in 2020, with revenues reaching $22.6 billion (€19.1 billion), helped by a more favorable foreign exchange rate. This was attributed to a better performance in the second half of the year, following a difficult first half due to Covid-19's influence. Sales of diagnostic imaging and image-guided treatments and ultrasounds fell somewhat in diagnosis and treatment, with diagnostic imaging showing modest growth and image-guided therapies and ultrasounds showing a fall. Covid-19-driven demand fueled substantial growth in connected care, with high results in monitoring & analytics and sleep & respiratory care. "The developments of the past year validate our strategy to innovate the provision of care along the health continuum – putting the patient at the center, improving diagnosis and treatment pathways, enabling the integration of care across care settings, and increasing care provider productivity," CEO Frans van Houten wrote in a letter to shareholders. Simultaneously, we assist clients in leading healthy lifestyles and coping with chronic disease. Telehealth technologies are increasingly allowing us to integrate home and hospital treatment. This strategy is resonating louder than ever."