Koninklijke Philips (PHIA) Show & Tell 2024 summary

Opening and agenda

• The event began with a welcome, outlining a day focused on innovation, value creation, and customer engagement, including presentations, Q&A, and hands-on demos at the Customer Experience Center.

• Attendees were provided with digital access to the agenda and presenter bios via QR codes.

Strategic vision and market context

• The company is focused on delivering impactful, sustainable healthcare innovations, addressing both sick care and self-care.

• The addressable market is expected to reach €90 billion by 2025, driven by aging populations, chronic diseases, and staff shortages, with technology positioned to bridge care gaps.

• Emphasis is placed on expanding access, efficiency, and sustainability in healthcare, leveraging digital and AI advancements.

Key strategic themes

• Focus on advancing precise and predictive imaging, personal health, and connected care to address growing healthcare demand and productivity pressures.

• Emphasis on sustainable, people- and patient-centric innovation, with over 9% of sales invested in R&D and half of sales from recent product launches.

• Execution priorities include embedding patient safety and quality, optimizing supply chains, and simplifying operating models.

• ESG leadership integrated into strategy, maintaining carbon neutrality and focusing on health impact for underserved populations.

• Culture shift towards impact with care, accountability, and HealthTech expertise, with significant executive renewal.