Corporate News Blog - Philips Inks Agreement with Lakeland Hospital; Set to Implement IntelliVue Guardian Solution
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LONDON, UK / ACCESSWIRE / August 17, 2017 /Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Koninklijke Philips N.V. (NYSE: PHG) ("Philips"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=PHG. The Company announced on August 15, 2017, that it has signed an agreement with Lakeland Health to integrate the Philips IntelliVue Guardian Solution with automated Early Warning Scoring (EWS) at all three of the Lakeland Health's hospitals. The IntelliVue Guardian Solution from Philips contains software and intelligent clinical decision algorithms enabling caregivers to accurately obtain vital signs and seamlessly integrate validated patient data directly to the EHR, hence reducing human errors and saving time. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Philips stated that over 40% of unanticipated hospital deaths happen in the General Ward, where it is hard to predict which patients to watch closely. Hence, obtaining vital signs in real-time using EWS enables clinicians to identify subtle signs of deterioration in a patient's condition at the point of care, hours before a potential adverse event occurs. Lakeland Health first implemented Philips patient monitoring technology in June 2016, where the amount of rapid responses advanced significantly with the number of cardiac and respiratory arrests decreasing by about 56%.
Lakeland Health is a community-owned health system, which includes three hospitals, an outpatient surgery center, a cancer center, rehabilitation centers, long-term care, hospice, home care services, and physician practices. Lakeland Health views the IntelliVue Guardian Solution as a remarkable approach to eliminate potential transcription errors and also offer caregivers immediate access to patients' vital signs, hence reducing delays in treatment time. With the assistance of Guardian Solution, the caregivers will be now well equipped with the latest information and will be notified of changes in a patient's vital signs may put them at risk for conditions such as sepsis, cardiac arrest, or respiratory failure. Also, the frequent monitoring with automated EWS enables caregivers and Rapid Response Teams to respond earlier.
According to Philips, having automated tools that deliver a comprehensive view into a patient's condition not only helps in identifying potential patient deterioration, but it also helps enhance workflow efficiencies by simplifying the medical documentation and better utilizing limited staff resources.
Company Growth Prospects
Philips is a leading health technology company focused on improving people's health and offers solutions across diagnosis, treatment, and home care. The Company 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. The Company's health technology portfolio generated net sales of EUR 17.4 billion in 2016, and currently employs about 70,000 employees with sales and services in more than 100 countries.
Prior to the announcement, on August 09, 2017, Philips completed the acquisition of The Spectranetics Corporation (NASDAQ: SPNC), a US-based global leader in vascular intervention and lead management solutions. Spectranetics observed double-digit growth according to Philips, and projects 2017 sales to be about $300 million. Philips viewed this acquisition as an expansion strategy into the EUR 6 billion Image Guided Therapy business. According to Philips, the combination of Spectranetics' highly competitive product range and the Company's leading portfolio of interventional imaging systems, devices, software, and services will deliver enhanced care for patients by enabling clinicians to decide, guide, treat and confirm the appropriate cardiac and peripheral vascular treatment.
Last Close Stock Review
Philips' share price finished yesterday's trading session at $37.82, climbing 1.56%. A total volume of 644.99 thousand shares have exchanged hands. The Company's stock price soared 7.72% in the last three months, 29.30% in the past six months, and 33.40% in the previous twelve months. Additionally, the stock rallied 23.72% since the start of the year. Shares of the Company have a PE ratio of 29.32 and have a dividend yield of 2.27%. The stock currently has a market cap of $35.83 billion.
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