June 7, 2017

Philips to advance health technology with first innovation center in Russia


Center to focus on the application of computer and data science, and artificial intelligence in healthcare

Moscow, Russia – Royal Philips (NYSE: PHG; AEX: PHIA) today opened its first innovation center in Russia. Located at the Skolkovo Innovation Center in Moscow, the center will host a team of scientists developing the next generation of health technologies based on computer and data science, and artificial intelligence in healthcare.

 

“To address complex challenges in health we collaborate with a global network of partners including healthcare providers, start-ups, clinicians and universities,” said Henk de Jong, Chief of International Markets. “Our new innovation center in Moscow will strengthen our connection with the vibrant innovation ecosystem in the region, enabling us to apply our combined knowledge and experience to bring innovations to market faster and more effectively.”

 

The new center is part of Philips’ global research organization, contributing to the company’s innovation programs in areas including predictive analytics for patients in acute care settings and big data analysis for improving the efficiency and effectiveness of healthcare systems. The center will also offer internship programs for graduate and postgraduate students from the Skolkovo Institute of Science and Technology and other universities across Russia.

 

“We welcome the establishment of the Philips Innovation Center at Skolkovo. Philips is a leading health technology company and its presence will strengthen our innovation ecosystem,” said Victor Vekselberg, President of Skolkovo Foundation. “The Skolkovo Foundation’s overarching goal is to create a sustainable ecosystem of entrepreneurship and innovation. Philips’ new innovation center will contribute to the extension of international cooperation and the development of the Russian economy”.

 

In 2016, Philips spent EUR 1.7 billion on R&D in health technology, with 60% of the company’s R&D employees in software, highlighting the company’s commitment to innovation in the areas of prevention and healthy living, diagnosis and treatment, and home care. Philips aims to improve the lives of three billion people a year by 2025.

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips' health technology portfolio generated 2016 sales of EUR 17.4 billion and employs approximately 70,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

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Contacts

Marc Groves

Philips Innovation and Strategy

Tel.: +31631639916

Ivan Gribanov

Philips Russia

Tel.: +7 (495)937-93-00 ext 395

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