07.22.21
Rank: #4 (Last year: #6)
$19.32 Billion
Prior Fiscal: $17.10 Billion
Percentage Change: +13%
No. of Employees: 81,592
Global Headquarters: Amsterdam, the Netherlands
KEY EXECUTIVES:
Frans van Houten, CEO, Chairman of the Board of Management and the Executive Committee
Sophie Bechu, Exec. VP, COO
Abhijit Bhattacharya, Exec. VP, CFO
Roy Jakobs, Exec. VP, Chief Business Leader Connected Care
Henk Siebren de Jong, Exec. VP, CEO Philips Domestic Appliances
Deeptha Khanna, Exec. VP, Chief Business Leader Personal Health
Bert van Meurs, Exec. VP, Chief Business Leader Image Guided Therapy
Kees Wesdorp, Exec. VP, Chief Business Leader Precision Diagnosis
At the beginning of the COVID-19 pandemic, the need for critical care ventilators was enormous due to severe respiratory distress brought on by the disease. Last April, Netherlands-based healthcare device maker Philips answered the call to action.
The U.S. government and Philips agreed to team up to increase hospital ventilator production in U.S. sites, aiming to double production by May 2020 and achieve four-fold increase by the third quarter to supply the U.S. and global markets. Philips engaged manufacturing partners Flex and Jabil in order to do so, and introduced the versatile and easy-to-use Respironics E30 ventilator, which gained emergency use authorization (EUA) last April.
However, in August—following a July report by the U.S. Congress House Subcommittee on Economic and Consumer Policy that found the White House had overpaid Philips by at least $500 million—the U.S. Department of Health and Human Services partially terminated the contract to deliver 43,000 bundled EV300 ventilators by the end of 2020. Philips completed the deliveries for August, resulting in 12,300 bundled ventilator configurations delivered. As a result, Philips had to cut its 2020 earnings outlook.
Ventilators weren’t the only supplies Philips provided to support the healthcare burden brought on by the pandemic, however. The company made many more strides to provide critical products:
As a result, the Dutch medical device maker was able to achieve double-digit growth during the pandemic, truly an amazing feat. “There is a structural higher demand for the healthcare informatics that Philips has already invested in for several years and now we see the validation of that strategy,” CEO Frans van Houten told Reuters.
ANALYST INSIGHTS: As a company with large businesses in monitoring and respiratory products, Philips had a huge year during COVID. However, 2021 is proving more challenging as they have had recall issues with some of their core sleep and respiratory products. It will be interesting to observe how management is able to respond and execute to keep Philips on track for the next year.
Philips achieved $19.32 billion in medical device proceeds last year, an impressive 13 percent rise over the year prior. This was mainly a result of the 19.3 percent skyrocket in the Connected Care businesses, which accrued 5.6 billon euros in revenue last year. Monitoring and analytics products made up 40 percent of the business’s revenue, reaching 2.2 billion euros.
The Rapid Equipment Deployment Kit was an innovation borne from the COVID-19 pandemic. Deployed last August, the ICU patient monitoring solution contains 20 ICU monitors, 20 measurement servers, and a central management monitoring station. A hospital’s general care area can be converted into a critical care level in a few hours thanks to the pre-built, preconfigured, and prepacked kits. They come with step-by-step instructions and can be transferred from hospital to hospital as necessary.
The Tempus ALS remote monitoring and defibrillator solution came last July. It consists of a remote portable vital signs patient monitor (Tempus Pro) and remote professional defibrillator (Tempus LS-Manual) The software platform permits real-time clinical data and events transfer, interactive ECG measurement, and two-way communication for rapid clinical and transport decision support and electronic patient care recording integration in emergency settings.
Philips scooped up remote cardiac diagnostics and monitoring firm BioTelemetry for $2.8 billion in December. Via the deal, Philips gained wearable heart monitors (mobile cardiac outpatient telemetry patch and extended Holter monitor) that detect and transmit abnormal heart rhythms wirelessly, AI-based data analytics, and services. With over 30,000 unique referring physicians per month, BioTelemetry provides services for over 1 million patients per year.
Sleep and respiratory care devices comprised 49 percent of the segment’s revenue, accruing 2.7 billion euros last year.
In July, Philips debuted the Respironics Mask Selector, a clinically-validated mask selection, sizing, and fitting solution that helps providers fit patients with the right CPAP mask. Using advanced 3D camera technology, each scan captures 150 frames and 15 million points of facial geography data. Philips’ proprietary algorithm then identifies the 46,200 data points most critical to provide an accurate and precise mask recommendation. This data is combined with a patient questionnaire to make a personalized recommendation of Philips Respironics mask type, cushion, and frame size for PAP therapy.
November saw the rollout of the BiPAP A40 EFL non-invasive ventilator. It includes a therapy feature for COPD patients to breathe easier, identifying expiratory flow limitation (EFL) and treating it with targeted therapy to reduce the work of breathing. Proprietary ExpiraFlow technology automatically spots EFL more accurately than any alternate methods, according to the company. It leverages a connected solution platform to streamline diagnostic work.
DreamWare Silicone Pillows for the DreamWear CPAP mask line were introduced in North America in December. The all-silicone pillow cushion was designed using data from thousands of 3D facial scans to automatically conform to fit and seal various nostril shapes and sizes, reducing pressure points inside the nostril. According to the company, the new silicone pillows mask is the lightest tube-on-top pillows CPAP mask available today.
Therapeutic care claimed 5 percent of the franchise’s proceeds with 280 million euros.
Last June the firm received FDA premarket approval for its professional HeartStart FR3 and public-access HeartStart FRx automatic external defibrillators (AEDs). FR3 has advanced features to assist medical personnel and first-responders treat cardiac arrest. FRx touts intuitive, step-by-step voice instructions, including CPR guidance for emergency use in public spaces.
Connected care informatics and population health management made up the remaining 6 percent of Connected Care revenue with 336 million euros.
Last March the firm launched an emergency care pre-informatics suite in the U.S. to spot life-threatening conditions remotely, improve on-scene crew support accuracy, and boost in-hospital care tailoring based on pre-hospital physiology. The software gives real-time, bidirectional feedback between emergency responders and the clinicians in the hospital. Combined with the company’s vital signs monitor, the web-based dashboard allows data transmission so remote specialists can immediately review vitals and plan for the patient’s arrival.
March also saw the release of the HealthSuite System of Engagement, an integrated, modular set of standards-based capabilities that support development of digital health propositions, including new capabilities for cloud-based managed AI workflow and DICOM interoperability. By taking a federated approach to data integration, HealthSuite System of Engagement supports healthcare providers in capturing the value of data from across their existing IT infrastructure.
Last May the company announced a Clinical Trial Accelerator for its HealthSuite platform that helps integrate, analyze, and store clinical and patient-reported data from multiple sources for actionable insights. Using the technology enables patient-centric trials at home. The AI Analytics Workbench provides standards-based interoperability for Digital Imaging and Communication in Medicine (DICOM) data, and the HealthSuite Clinical Data Lake scalable micro-service acts as a centralized big data repository for high-volume clinical data collection studies. It also includes controls to curate and manage data in a way that addresses regulatory requirements.
Philips launched the Virtual Care Station telehealth environment last August. The pod-based solution delivers virtual care services in convenient neighborhood locations, connecting provider and insurance networks. It features a camera, lighting, and speakers, for a high-quality vision of the patient and area of concern. Virtual Care Station is based on technology developed for Philips’ ATLAS program (Accessing Telehealth through Local Area Stations), which was created for U.S. veterans.
Philips released proprietary cybersecurity services in November. Philips Cybersecurity Services comprise an end-to-end suite of technologies and services to safeguard medical systems, devices, and related software solutions, regardless of manufacturer. The services are supported by a new partnership with CyberMDX, a purveyor of healthcare cybersecurity capabilities for hospital digital environment mapping and evaluation, medical device risk assessment, security prioritization, threat detection and intelligence, intrusion prevention, and related support.
Diagnosis and Treatment sales amounted to 8.2 billion euros, dropping 3.7 percent from the year prior due to postponement of installation and elective procedures as a result of COVID-19. Diagnostic imaging products make up 41 percent of this income with 3.4 billion euros of proceeds in 2020.
At last year’s Radiological Society of North America (RSNA) meeting, Philips debuted a vendor-neutral, multimodality radiology operations command center that adds secure, digital, virtual scanner access to existing imaging installs. Philips Radiology Operations Command Center enables virtualized imaging operations via a private, secure, and auditable telepresence platform. It connects imaging experts at a central command center with technologists and onsite staff in locations across an entire enterprise for real-time, over-the-shoulder collaboration and support.
The firm also released its Advanced Visualization Workspace – IntelliSpace Portal 12 at last year’s RSNA meeting. IntelliSpace Portal touts AI-assisted quantitative assessment and automatic results generation for diagnostic workflow. Clinical packages for cardiology, pulmonology, oncology, and neurology were also launched with IntelliSpace Portal 12. New features include AI algorithms for lung nodule detection, cardiac functional analysis, and quantification of pulmonary infiltrates associated with COVID-19 patients.
Ultrasound revenue, which comprised 20 percent of Diagnosis and Treatment’s revenue, was 1.6 billion euros.
The EPIQ Elite pediatric ultrasound was announced last May. Designed specifically for children, it combines dedicated transducers, enhanced processing, and software tools optimized for pediatric diagnostics. The new mC12-3 pediatric transducer, according to Philips, offers 30 percent greater penetration for more detailed images. “…the intracranial detail we see in the neonatal head is truly exceptional,” a Phoenix Children’s Hospital pediatric radiologist told the press.
August saw the announcement of the Affiniti CVx dedicated cardiovascular ultrasound. It includes a configurable UI, automated tools, and transducer sharing. It also touts AutoStrain technology, which has been demonstrated to reduce strain analysis time by 70 percent. Using Affiniti CVx, cardiology departments can standardize their ultrasound fleet, simplify cross-platform clinician training, and reduce total cost of ownership. 3D Auto LAA software enables faster measurements of the left atrial appendage (LAA) from 3D to increase procedure efficiency.
Enterprise diagnostic informatics accrued $656 million last year. Image guided therapy achieved 2.5 billion euros in sales, and this segment was most active in terms of product releases and M&A activity.
The company began its deal for Intact Vascular, a developer of minimally-invasive peripheral vascular devices to treat peripheral artery disease, last August. From the deal, Philips obtained the Tack Endovascular System, a minimal-metal peripheral arterial dissection repair device for use after balloon angioplasty in above- and below-the-knee operations. The Tack Implant leaves less metal behind compared to stents, preserving future treatment options and ultimately, limbs. The deal was completed in the third quarter of last year.
“Through the integration of our interventional imaging systems and diagnostic and therapeutic devices, we will be able to provide clinicians with a complete procedural solution to optimize the treatment of patients with [peripheral artery] disease,” Philips Sr. VP and GM of Image Guided Therapy Devices Chris Landon commented when the deal was announced.
August also saw the introduction of OmniWire, a solid core pressure wire for coronary artery interventional procedures. The solid core construction allows easier maneuvering into the circulatory system to measure blood pressure along the vessel and guide catheter and stent delivery. Advanced conductive ribbons are embedded in its outer polymer layer to communicate pressure information. The distal part of the wire is made from nitinol, and the proximal part is constructed from a high-strength cobalt alloy that provides the high durability required for complex and multi-vessel cases.
Also in August, the company gained FDA clearance for Onvision ultrasound guidance for real-time needle trip tracking. It combines the B. Braun and Philips Xperius ultrasound system with the Stimuplex Onvision needle to accurately position the needle tip for peripheral nerve blocks. It was the latest advancement in Philips and B. Braun’s multi-year alliance for innovation in ultrasound-guided regional anesthesia. The tip tracking technology indicates needle tip position in relation to the ultrasound viewing plane to an accuracy of 3 mm, according to the company. A micro-sensor on the needle indicates real-time needle tip location.
New imaging and workflow enhancements were added to the KODEX-EPD cardiac imaging and mapping system in August as well. Advances in the new release include faster, high-resolution imaging, mapping functionality and point density improvements, and new visualization options such as multi-chamber view to understand relative positions of adjacent chambers and glass view, which provides improved perception of 3D catheter location and orientation in the heart. For cryoablation procedures, KODEX-EPD offers enhanced occlusion assessment functionality with high accuracy and a simplified workflow.
The next-gen Azurion image-guided therapy platform was introduced in September. It integrates control of imaging, physiology, hemodynamic, and informatics applications, as well as intuitive control of the gantry, at the tableside, allowing clinicians to control all compatible applications from a single touch screen while performing procedures. Philips also released a 3D imaging solution called SmartCT, which guides users through image acquisition so they can review and interact with the acquired CT-like 3D images on the tableside touch screen module using 3D visualization and measurement tools.
Azurion Lung Edition also hit the shelves in September. The suite combines CT-like 3D images acquired at the tableside (cone beam CT) with live X-ray guidance and advanced tools to support image-guided lung procedures. The system is designed for bronchoscopy procedures, enabling performance of minimally invasive endobronchial biopsies and lesion ablation during the same procedure.
Completing the trifecta of September releases in this franchise was the QuickClear mechanical thrombectomy system. The compact, single-use system provides an all-in-one aspiration pump and catheter for blood clot removal from peripheral arterial and venous systems. Aspiration power consistency during the procedure provides physicians more control and supports faster procedure times. The system’s range of catheters includes a large 10F aspiration catheter, providing 59 percent more aspiration volume than 8F aspiration catheters, according to Philips.
The Personal Health franchise accrued 5.4 billion euros last year, falling 7.6 percent from the year prior. Oral healthcare proceeds amounted to 1.1 billion euros, and mother and child care sales reached $324 million.
Last June saw the rollout of the Avalon CL Fetal and Maternal Pod and Patch remote monitoring suite, consisting of perinatal analytics, visualization software, and a battery-operated monitor. The monitor reduces unnecessary patient-clinician interactions to minimize COVID-19 risk in pregnant women. A single-use, 48-hour electrode patch placed on the abdomen continuously monitors maternal and fetal heart rate and uterine activity. It’s designed to be placed only once, unlike elastic belts and sensors that require repositioning. The Avalon CL Transducer System allows cableless monitoring of up to three fetuses, connecting to the hospital’s wireless LAN to expand the ambulation area.
$19.32 Billion
Prior Fiscal: $17.10 Billion
Percentage Change: +13%
No. of Employees: 81,592
Global Headquarters: Amsterdam, the Netherlands
KEY EXECUTIVES:
Frans van Houten, CEO, Chairman of the Board of Management and the Executive Committee
Sophie Bechu, Exec. VP, COO
Abhijit Bhattacharya, Exec. VP, CFO
Roy Jakobs, Exec. VP, Chief Business Leader Connected Care
Henk Siebren de Jong, Exec. VP, CEO Philips Domestic Appliances
Deeptha Khanna, Exec. VP, Chief Business Leader Personal Health
Bert van Meurs, Exec. VP, Chief Business Leader Image Guided Therapy
Kees Wesdorp, Exec. VP, Chief Business Leader Precision Diagnosis
At the beginning of the COVID-19 pandemic, the need for critical care ventilators was enormous due to severe respiratory distress brought on by the disease. Last April, Netherlands-based healthcare device maker Philips answered the call to action.
The U.S. government and Philips agreed to team up to increase hospital ventilator production in U.S. sites, aiming to double production by May 2020 and achieve four-fold increase by the third quarter to supply the U.S. and global markets. Philips engaged manufacturing partners Flex and Jabil in order to do so, and introduced the versatile and easy-to-use Respironics E30 ventilator, which gained emergency use authorization (EUA) last April.
However, in August—following a July report by the U.S. Congress House Subcommittee on Economic and Consumer Policy that found the White House had overpaid Philips by at least $500 million—the U.S. Department of Health and Human Services partially terminated the contract to deliver 43,000 bundled EV300 ventilators by the end of 2020. Philips completed the deliveries for August, resulting in 12,300 bundled ventilator configurations delivered. As a result, Philips had to cut its 2020 earnings outlook.
Ventilators weren’t the only supplies Philips provided to support the healthcare burden brought on by the pandemic, however. The company made many more strides to provide critical products:
- March: Production ramp-up of critical care products—vital signs monitors, hospital ventilators, associated medical consumables
- April: FDA waiver for available consumer monitors at home with Philips IntelliSite Pathology Solution
- April: Released dedicated and scalable telehealth solution to manage increased patient flows
- May: 510(k) for EPIQ series, Affiniti series, Lumify, CX50, and Sparq diagnostic ultrasound systems, off-cart QLAB Advanced Quantification Software for lung and cardiac complications
- May: 510(k) for Philips Biosensor BX100 to help manage confirmed and suspected COVID-19 patients
- June: EUA for IntelliVue Patient Monitors MX750/MX850 and IntelliVue Active Displays AD75/AD85 for COVID-19 patients
As a result, the Dutch medical device maker was able to achieve double-digit growth during the pandemic, truly an amazing feat. “There is a structural higher demand for the healthcare informatics that Philips has already invested in for several years and now we see the validation of that strategy,” CEO Frans van Houten told Reuters.
ANALYST INSIGHTS: As a company with large businesses in monitoring and respiratory products, Philips had a huge year during COVID. However, 2021 is proving more challenging as they have had recall issues with some of their core sleep and respiratory products. It will be interesting to observe how management is able to respond and execute to keep Philips on track for the next year.
—Dave Sheppard, Co-Founder and Managing Director, MedWorld Advisors
Philips achieved $19.32 billion in medical device proceeds last year, an impressive 13 percent rise over the year prior. This was mainly a result of the 19.3 percent skyrocket in the Connected Care businesses, which accrued 5.6 billon euros in revenue last year. Monitoring and analytics products made up 40 percent of the business’s revenue, reaching 2.2 billion euros.
The Rapid Equipment Deployment Kit was an innovation borne from the COVID-19 pandemic. Deployed last August, the ICU patient monitoring solution contains 20 ICU monitors, 20 measurement servers, and a central management monitoring station. A hospital’s general care area can be converted into a critical care level in a few hours thanks to the pre-built, preconfigured, and prepacked kits. They come with step-by-step instructions and can be transferred from hospital to hospital as necessary.
The Tempus ALS remote monitoring and defibrillator solution came last July. It consists of a remote portable vital signs patient monitor (Tempus Pro) and remote professional defibrillator (Tempus LS-Manual) The software platform permits real-time clinical data and events transfer, interactive ECG measurement, and two-way communication for rapid clinical and transport decision support and electronic patient care recording integration in emergency settings.
Philips scooped up remote cardiac diagnostics and monitoring firm BioTelemetry for $2.8 billion in December. Via the deal, Philips gained wearable heart monitors (mobile cardiac outpatient telemetry patch and extended Holter monitor) that detect and transmit abnormal heart rhythms wirelessly, AI-based data analytics, and services. With over 30,000 unique referring physicians per month, BioTelemetry provides services for over 1 million patients per year.
Sleep and respiratory care devices comprised 49 percent of the segment’s revenue, accruing 2.7 billion euros last year.
In July, Philips debuted the Respironics Mask Selector, a clinically-validated mask selection, sizing, and fitting solution that helps providers fit patients with the right CPAP mask. Using advanced 3D camera technology, each scan captures 150 frames and 15 million points of facial geography data. Philips’ proprietary algorithm then identifies the 46,200 data points most critical to provide an accurate and precise mask recommendation. This data is combined with a patient questionnaire to make a personalized recommendation of Philips Respironics mask type, cushion, and frame size for PAP therapy.
November saw the rollout of the BiPAP A40 EFL non-invasive ventilator. It includes a therapy feature for COPD patients to breathe easier, identifying expiratory flow limitation (EFL) and treating it with targeted therapy to reduce the work of breathing. Proprietary ExpiraFlow technology automatically spots EFL more accurately than any alternate methods, according to the company. It leverages a connected solution platform to streamline diagnostic work.
DreamWare Silicone Pillows for the DreamWear CPAP mask line were introduced in North America in December. The all-silicone pillow cushion was designed using data from thousands of 3D facial scans to automatically conform to fit and seal various nostril shapes and sizes, reducing pressure points inside the nostril. According to the company, the new silicone pillows mask is the lightest tube-on-top pillows CPAP mask available today.
Therapeutic care claimed 5 percent of the franchise’s proceeds with 280 million euros.
Last June the firm received FDA premarket approval for its professional HeartStart FR3 and public-access HeartStart FRx automatic external defibrillators (AEDs). FR3 has advanced features to assist medical personnel and first-responders treat cardiac arrest. FRx touts intuitive, step-by-step voice instructions, including CPR guidance for emergency use in public spaces.
Connected care informatics and population health management made up the remaining 6 percent of Connected Care revenue with 336 million euros.
Last March the firm launched an emergency care pre-informatics suite in the U.S. to spot life-threatening conditions remotely, improve on-scene crew support accuracy, and boost in-hospital care tailoring based on pre-hospital physiology. The software gives real-time, bidirectional feedback between emergency responders and the clinicians in the hospital. Combined with the company’s vital signs monitor, the web-based dashboard allows data transmission so remote specialists can immediately review vitals and plan for the patient’s arrival.
March also saw the release of the HealthSuite System of Engagement, an integrated, modular set of standards-based capabilities that support development of digital health propositions, including new capabilities for cloud-based managed AI workflow and DICOM interoperability. By taking a federated approach to data integration, HealthSuite System of Engagement supports healthcare providers in capturing the value of data from across their existing IT infrastructure.
Last May the company announced a Clinical Trial Accelerator for its HealthSuite platform that helps integrate, analyze, and store clinical and patient-reported data from multiple sources for actionable insights. Using the technology enables patient-centric trials at home. The AI Analytics Workbench provides standards-based interoperability for Digital Imaging and Communication in Medicine (DICOM) data, and the HealthSuite Clinical Data Lake scalable micro-service acts as a centralized big data repository for high-volume clinical data collection studies. It also includes controls to curate and manage data in a way that addresses regulatory requirements.
Philips launched the Virtual Care Station telehealth environment last August. The pod-based solution delivers virtual care services in convenient neighborhood locations, connecting provider and insurance networks. It features a camera, lighting, and speakers, for a high-quality vision of the patient and area of concern. Virtual Care Station is based on technology developed for Philips’ ATLAS program (Accessing Telehealth through Local Area Stations), which was created for U.S. veterans.
Philips released proprietary cybersecurity services in November. Philips Cybersecurity Services comprise an end-to-end suite of technologies and services to safeguard medical systems, devices, and related software solutions, regardless of manufacturer. The services are supported by a new partnership with CyberMDX, a purveyor of healthcare cybersecurity capabilities for hospital digital environment mapping and evaluation, medical device risk assessment, security prioritization, threat detection and intelligence, intrusion prevention, and related support.
Diagnosis and Treatment sales amounted to 8.2 billion euros, dropping 3.7 percent from the year prior due to postponement of installation and elective procedures as a result of COVID-19. Diagnostic imaging products make up 41 percent of this income with 3.4 billion euros of proceeds in 2020.
At last year’s Radiological Society of North America (RSNA) meeting, Philips debuted a vendor-neutral, multimodality radiology operations command center that adds secure, digital, virtual scanner access to existing imaging installs. Philips Radiology Operations Command Center enables virtualized imaging operations via a private, secure, and auditable telepresence platform. It connects imaging experts at a central command center with technologists and onsite staff in locations across an entire enterprise for real-time, over-the-shoulder collaboration and support.
The firm also released its Advanced Visualization Workspace – IntelliSpace Portal 12 at last year’s RSNA meeting. IntelliSpace Portal touts AI-assisted quantitative assessment and automatic results generation for diagnostic workflow. Clinical packages for cardiology, pulmonology, oncology, and neurology were also launched with IntelliSpace Portal 12. New features include AI algorithms for lung nodule detection, cardiac functional analysis, and quantification of pulmonary infiltrates associated with COVID-19 patients.
Ultrasound revenue, which comprised 20 percent of Diagnosis and Treatment’s revenue, was 1.6 billion euros.
The EPIQ Elite pediatric ultrasound was announced last May. Designed specifically for children, it combines dedicated transducers, enhanced processing, and software tools optimized for pediatric diagnostics. The new mC12-3 pediatric transducer, according to Philips, offers 30 percent greater penetration for more detailed images. “…the intracranial detail we see in the neonatal head is truly exceptional,” a Phoenix Children’s Hospital pediatric radiologist told the press.
August saw the announcement of the Affiniti CVx dedicated cardiovascular ultrasound. It includes a configurable UI, automated tools, and transducer sharing. It also touts AutoStrain technology, which has been demonstrated to reduce strain analysis time by 70 percent. Using Affiniti CVx, cardiology departments can standardize their ultrasound fleet, simplify cross-platform clinician training, and reduce total cost of ownership. 3D Auto LAA software enables faster measurements of the left atrial appendage (LAA) from 3D to increase procedure efficiency.
Enterprise diagnostic informatics accrued $656 million last year. Image guided therapy achieved 2.5 billion euros in sales, and this segment was most active in terms of product releases and M&A activity.
The company began its deal for Intact Vascular, a developer of minimally-invasive peripheral vascular devices to treat peripheral artery disease, last August. From the deal, Philips obtained the Tack Endovascular System, a minimal-metal peripheral arterial dissection repair device for use after balloon angioplasty in above- and below-the-knee operations. The Tack Implant leaves less metal behind compared to stents, preserving future treatment options and ultimately, limbs. The deal was completed in the third quarter of last year.
“Through the integration of our interventional imaging systems and diagnostic and therapeutic devices, we will be able to provide clinicians with a complete procedural solution to optimize the treatment of patients with [peripheral artery] disease,” Philips Sr. VP and GM of Image Guided Therapy Devices Chris Landon commented when the deal was announced.
August also saw the introduction of OmniWire, a solid core pressure wire for coronary artery interventional procedures. The solid core construction allows easier maneuvering into the circulatory system to measure blood pressure along the vessel and guide catheter and stent delivery. Advanced conductive ribbons are embedded in its outer polymer layer to communicate pressure information. The distal part of the wire is made from nitinol, and the proximal part is constructed from a high-strength cobalt alloy that provides the high durability required for complex and multi-vessel cases.
Also in August, the company gained FDA clearance for Onvision ultrasound guidance for real-time needle trip tracking. It combines the B. Braun and Philips Xperius ultrasound system with the Stimuplex Onvision needle to accurately position the needle tip for peripheral nerve blocks. It was the latest advancement in Philips and B. Braun’s multi-year alliance for innovation in ultrasound-guided regional anesthesia. The tip tracking technology indicates needle tip position in relation to the ultrasound viewing plane to an accuracy of 3 mm, according to the company. A micro-sensor on the needle indicates real-time needle tip location.
New imaging and workflow enhancements were added to the KODEX-EPD cardiac imaging and mapping system in August as well. Advances in the new release include faster, high-resolution imaging, mapping functionality and point density improvements, and new visualization options such as multi-chamber view to understand relative positions of adjacent chambers and glass view, which provides improved perception of 3D catheter location and orientation in the heart. For cryoablation procedures, KODEX-EPD offers enhanced occlusion assessment functionality with high accuracy and a simplified workflow.
The next-gen Azurion image-guided therapy platform was introduced in September. It integrates control of imaging, physiology, hemodynamic, and informatics applications, as well as intuitive control of the gantry, at the tableside, allowing clinicians to control all compatible applications from a single touch screen while performing procedures. Philips also released a 3D imaging solution called SmartCT, which guides users through image acquisition so they can review and interact with the acquired CT-like 3D images on the tableside touch screen module using 3D visualization and measurement tools.
Azurion Lung Edition also hit the shelves in September. The suite combines CT-like 3D images acquired at the tableside (cone beam CT) with live X-ray guidance and advanced tools to support image-guided lung procedures. The system is designed for bronchoscopy procedures, enabling performance of minimally invasive endobronchial biopsies and lesion ablation during the same procedure.
Completing the trifecta of September releases in this franchise was the QuickClear mechanical thrombectomy system. The compact, single-use system provides an all-in-one aspiration pump and catheter for blood clot removal from peripheral arterial and venous systems. Aspiration power consistency during the procedure provides physicians more control and supports faster procedure times. The system’s range of catheters includes a large 10F aspiration catheter, providing 59 percent more aspiration volume than 8F aspiration catheters, according to Philips.
The Personal Health franchise accrued 5.4 billion euros last year, falling 7.6 percent from the year prior. Oral healthcare proceeds amounted to 1.1 billion euros, and mother and child care sales reached $324 million.
Last June saw the rollout of the Avalon CL Fetal and Maternal Pod and Patch remote monitoring suite, consisting of perinatal analytics, visualization software, and a battery-operated monitor. The monitor reduces unnecessary patient-clinician interactions to minimize COVID-19 risk in pregnant women. A single-use, 48-hour electrode patch placed on the abdomen continuously monitors maternal and fetal heart rate and uterine activity. It’s designed to be placed only once, unlike elastic belts and sensors that require repositioning. The Avalon CL Transducer System allows cableless monitoring of up to three fetuses, connecting to the hospital’s wireless LAN to expand the ambulation area.