Aug 01, 2019

Philips completes acquisition of Carestream Health’s Healthcare Information Systems business in majority of relevant countries

Amsterdam, The Netherlands - Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that it has completed the previously announced acquisition of Carestream Health Inc.’s Healthcare Information Systems (HCIS) business in 26 of the 38 countries in which it operates. Carestream HCIS’s cloud-enabled enterprise imaging platform will expand Philips’ current enterprise diagnostic informatics solutions, including productivity enhancement, imaging data management, and advanced visualization and analysis.

Philips expects to complete the acquisition of Carestream’s HCIS business in the remainder of the countries in which it operates in the course of 2019. This business will become part of Philips’ Enterprise Diagnostic Informatics business within the Diagnosis & Treatment reporting segment.

“With the acquisition of Carestream’s Healthcare Information Systems business, we are reinforcing our commitment to provide industry-leading medical imaging and healthcare IT solutions,” said Calum Cunningham, Business Leader Enterprise Diagnostic Informatics at Philips. “Together, we will be able to deliver enhanced informatics know-how and strong technology capabilities and enhance our ability to provide flexible solutions to hospitals and health systems, while building upon a complementary geographic footprint.”

With the acquisition of Carestream’s Healthcare Information Systems business, we are reinforcing our commitment to provide industry-leading medical imaging and healthcare IT solutions

Calum Cunningham

Business Leader Enterprise Diagnostic Informatics at Philips

Philips’ enterprise imaging solutions securely connect and facilitate the sharing of information among patients and their care teams across health systems. Philips’ visualization and analysis applications use adaptive intelligence to support clinicians at the point-of-care by providing clinical insights and improving collaboration among clinical care teams.

Carestream HCIS’s cloud-enabled enterprise imaging platform will complement Philips’ products and services with advanced Vendor Neutral Archive (VNA), diagnostic and enterprise viewers, interactive multimedia reporting, workflow orchestrator and clinical, operational and business analytics tools. In addition, Carestream’s Healthcare Information Systems business and installed base in Latin America, Europe and Asia will complement Philips’ leading position in high-end radiology informatics in North America.

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 generated 2018 sales of EUR 18.1 billion and employs approximately 78,000 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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Forward looking statements

This release contains certain forward-looking statements with respect to certain of the strategy, expectations, plans and objectives of Philips. Examples of forward-looking statements include statements made about the completion of the timing of the complete acquisition of, the integration with and into the operations of Philips of and the anticipated future performance of Carestream’s Healthcare Information Systems business. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.

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