Also in January 2016, as a long-standing and valued industry partner of the Singapore Economic Development Board (EDB), Philips and the EDBI, the corporate investment arm of the EDB, signed a Memorandum of Understanding (MoU) to jointly invest in select, high-potential digital health companies, especially in the area of Population Health Management, from around the world seeking to break into the Asian market through Singapore. Under the MoU, EDBI and Philips will focus on mid-to-late stage digital health companies, allowing them to set up base in Singapore with the goal to serve the Asian market for Population Health Management. The agreement will also create business opportunities, advance the local healthcare ecosystem and strengthen Singapore’s position as one of the leading digital health hubs in Asia.
Philips strongly believes in these three basic pillars to address ageing and chronic diseases in ASEAN countries and aims to partner with local stakeholders in the region in this co-creation process.
