Innovation that matters to you

At Philips, three pillars of that innovative response scenario are:

1. The need for a radical transformation of health systems (starting from primary care) to leapfrog from the current status into a future healthcare system, which addresses the demand for healthcare, and recognizes the economic value of equitable and affordable health for all. To implement this goal it is critical to put in place new business models based on shared values, develop new and sustainable financing mechanisms for healthcare and investing in local partnerships for local activation.
   
   
2. Instrumental to that transformation are partnerships between industry, NGOs and, most importantly, with governments, that allow scaling and widening access to health innovation, especially in limited resource areas. This implies creating accessible, affordable and appropriate innovation that delivers impact at scale, leaving no one behind.
   
   
3. Boosting digital, connected care as an opportunity to strengthen the role of primary care in ASEAN countries for the promotion of healthy habits, avoiding risk factors, and empowering individuals to take ownership of their own health. Digital health technologies and connected care will be a key enabler for achieving the necessary touch points and care coordination across the health continuum. We believe in their possibilities as tools for personalized health programs, public health management, adherence to therapies, prevention of rapidly rising non-communicable diseases, of monitoring respiratory diseases, among many other applications.

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.