Philips ranks 4th in Fortune’s 2025 ‘Europe’s Most Innovative Companies’ list

Jun 13, 2025 | 1 minute read

Demonstrating the strength of its innovation strategy, Philips has been ranked 4th in Fortune’s 2025 ‘Europe’s Most Innovative Companies’ list. This recognition highlights Philips’ continued commitment to improving people’s health and well-being through meaningful innovation.

Philips ranks 4th in Fortune’s 2025 ‘Europe’s Most Innovative Companies’ list

Fortune, together with Statista, has for the first time analyzed leading companies across the continent to highlight those successfully driving progress. Companies were evaluated based on product innovation, process innovation, and innovation culture. The list is compiled through surveys of industry professionals, analysis of patent portfolios, and assessments of corporate innovation strategies. The 2025 edition was unveiled on June 12 at Viva Technology in Paris.

At Philips, innovation is about creating meaningful impact - by improving access to care, enhancing clinical workflows, and empowering people to manage their health.

- Shez Partovi, Chief Innovation Officer at Philips

“At Philips, innovation is about creating meaningful impact - by improving access to care, enhancing clinical workflows, and empowering people to manage their health,” said Shez Partovi, Chief Innovation Officer at Philips. “Being named a finalist by Fortune affirms our commitment to purposeful innovation. From AI-powered diagnostics to real-time clinical insights and self-care solutions, we’re helping deliver better care for more people.”

Philips’ innovation strategy is rooted in deep clinical and consumer insights, supported by a robust intellectual property portfolio and a strong commitment to sustainability. The company’s innovation efforts span diagnostic imaging, image-guided therapy, patient monitoring, and connected care, with a growing emphasis on AI integration and digital transformation. In 2024 alone, Philips was one of the leading applicants in medical technology at the European Patent Office and was recognized by Clarivate as the top-ranked medical technology company in the Top 100 Global Innovators 2025.