Philips reorganizing business structure; aiming high single-digit growth by bringing together healthcare and consumer technology

Royal Philips has started devoting entirely to HealthTech about a year-and-a-half ago by bringing together healthcare and consumer technology. The company is expecting a high single-digit growth by reorganizing its business structure, which would better reflect its HealthTech priorities. Philips CEO Frans van Houten said, “We are targeting mid to high single-digit growth from each of the three new segments: Connected Care & Health Informatics; Diagnosis & Treatment; and Personal Health.” The Connected Care & Health Informatics segment includes patient monitoring, image archiving, digital pathology, population health, and electronic ICU. The Diagnostics & Treatment business, expected to be the largest of these three businesses, will cover imaging and deep learning applications, and minimally invasive treatments.