AMSTERDAM & DALLAS--(BUSINESS WIRE)--Royal Philips (NYSE: PHG, AEX: PHIA) and Children’s HealthSM today announced an up to 15-year, long-term, strategic agreement worth up to USD $75 million to innovate their patient monitoring and PACs systems for nearly one million patients in North Texas. Both Philips and Children’s Health have been in healthcare for more than 100 years and have a shared commitment to excellence and improving the lives of children. Through this agreement, standardized patient monitoring will take place on the Philips Intellivue X3 patient monitor, which offers the ease of a smartphone-style operation, mobility and allows staff to track a patient’s vitals during transport and at the bedside. Philips is a leader in patient monitoring with more than 275 million patients monitored by Philips systems annually.
In addition to the Philips X3 patient monitor, Children’s Health will have access to other leading Philips patient monitoring technologies such as IntelliVue Guardian with Early Warning Scoring and Intellivue Mobile Caregiver. These technologies can further empower staff, by putting critical patient information at their fingertips in an intuitive, easy to understand format.
“We are committed to making life better for children, and providing our patients with the best care possible,” said Pamela Arora, Senior Vice President and Chief Information Officer at Children’s Health. “Aligning with Philips will help us improve the experience for our patients and their families.”
As hospital systems move from fee-based to value-based care, long-term, strategic arrangements are becoming the business model of choice for hospitals and health systems to better manage the cost and complexity of their technology investments, while expanding quality access to advanced medical care for their communities. Other pediatric health systems that have also adopted this model include Phoenix Children’s Hospital, Children’s Hospital and Medical Center of Omaha, and the Maria Fareri Children’s Hospital, part of Westchester Medical Center Health.
“As a parent, I know the importance of demanding only the best, most innovative care possible when it comes to our children,” said Carla Kriwet, CEO of Connected Care and Healthcare Informatics at Philips. “By working with Philips, Children’s Health can offer the community it serves over 250 years of combined healthcare knowledge and best practices, along with leading connected patient monitoring solutions that will improve its patient and staff experience. More importantly, it can offer patient families peace of mind in knowing that their children are being cared for by a health system that is at the forefront of technology adoption and that will go above and beyond in caring for its patients.”
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 2017 sales of EUR 17.8 billion and employs approximately 75,000 employees with sales and services in more than 100 countries. News about Philips can be found at http://www.philips.com/newscenter.