Philips honored in Fast Company 2022 ‘Brands That Matter’ list based on its COVID-19 response and action on climate change

Evaluated on the basis of the company’s impact, metrics, brand communication, and the uniqueness of its offering, Philips has been awarded honoree status in Fast Company’s 2022 annual Brands That Matter. Listed in the Current Events category, Fast Company recognized Philips as a brand that initiated a high-impact response to major news and significant events in 2021, such as the ongoing effects of the COVID-19 pandemic, together with its action on climate change, its upholding of human rights, and its Environmental, Social and Governance (ESG) performance.

Responding with impact

In terms of impact, Philips continued to deliver core solutions for the treatment of COVID-19 patients, such as patient monitors and ventilators, and also enhanced the ability of intensive care units (ICUs) to deliver 24/7 care by expanding its eICU telehealth offering. It also delivered solutions for improving remote patient care, especially in remote and rural areas with limited access to healthcare services, with innovations such as its Community Diagnostic Hubs (UK), Virtual Care Stations (US), and technology-equipped shipping container healthcare facilities (Brazil). In partnership with the Philips Foundation and local NGOs it deployed ICU support, oxygen concentrators, patient monitors, and defibrillators in many areas hardest hit by COVID-19.

Action on climate change

Philips continued to be net-zero in its operational carbon footprint, with 100% of its operations powered by renewable electricity. In terms of materials efficiency, it applied EcoDesign principles to new product developments, closed the circular economy loop on over 3000 medical systems returned to it, achieved 16% of sales from circular economy products and solutions, and sent zero waste to landfill. It also focused on delivering new XaaS (X-as-a-Service) and outcome-based business models that significantly contribute to healthcare cost containment and long-term sustainability.

A unique approach

Philips’ brand uniqueness derives from its distinctive vision that healthcare is a continuum – from healthy living and prevention to diagnosis, treatment, and home care – in which it puts people’s health journey front-and-center by creating integrated care pathways. Key components in those pathways include the flow of real-time data and the use of predictive data analytics and artificial intelligence* (AI) to deliver the Quadruple Aim of better patient outcomes, improved patient and staff experiences, and lower cost of care.

Brand communication

Throughout 2021, Philips communicated its vision and purpose via thought leadership content – from stories on virtual care in the time of COVID-19 and videos on the importance of taking action on climate change to executive blogs on how digitalization can help reduce healthcare’s environmental footprint and news about the company’s response to the pandemic and climate change – creatively expressing its determination to be a health technology brand that is perceived as caring, innovative, and impactful. 

* According to the definition of AI from the EU High-Level Expert Group