Royal Philips - The Medical Equipment Czar

Nearly a decade ago, Royal Philips Electronics ofPhilips adopted Witt Biomedical Corporation, the
the Netherlands fathered the Philips Healthcarelargest independent supplier of Cath Lab
Services group and Royal Philips appearsmonitoring and reporting systems. In its drive to
determined that their subsidiary will soon becomebecome King of the Medical Equipment industry,
King of the medical imagingequipment industry.Philips Healthcare Services has acquired 6
Apparently, this move was in response to GEcompanies since its inception in 1998. Each of the
Medical Systems announcement that it planned onsix has expanded Philips offerings to include a total
becoming king itself of the ultrasound industryof ten medical imaging modalities, from CT to MRI
before the year 2000. Not to be "out-royaled",to x-ray, along with defibrillation and cardiac
Philips from the beginning year started anmonitoring equipment as well as image and
acquisition frenzy in order to expand itsinformation management solutions. So, has Philips
subsidiarys product portfolio far beyond its initialentered the royal industry castle yet? Some
product line, which began in 1918 with medicalbelieve so. As a matter of fact, prior to the last
x-ray tubes. Concluding Philips Healthcare Servicestwo acquisitions, Palo Altos growth consulting
beginning year, Philips Electronics added digitalcompany Frost & Sullivan seemed to believe
ultrasound systems to PHSs portfolio by gettingso. In 2004 Frost & Sullivan announced they
ATL Ultrasound of Washington. Only two yearswere awarding Philips FIVE awards for technology
after, in late 2000, Philips expanded into nuclearand services innovation and industry leadership.
medicine by absorbing ADAC Laboratories ofPhilips was honored for making distinguished
California. In 2001 was a very productive year ascontributions to the cardiac resuscitation and
Philips shifted into a very high gear by bringing onmedical imaging industries and for providing
two more companies and their product linesleadership in these market segments. Was Frost
Agilent and Marconi Medical. By procuring Agilent& Sullivan just looking for a spot at the royal
Technologies Healthcare Solutions Group ofcourt or were these legitimate kudos? Probably
Massachusetts, Philips catapulted past GE Medicalthe later. F&S conducted interviews with
as the head of the ultrasound sector. Philips tookmany market players along with their customers
in Agilents expertise in the areas of diagnosticand suppliers, and reportedly did extensive
cardiology, automated defibrillators, patientresearch into the medical equipment technology
monitoring, and point of care diagnostic systems.field. One of the many awards included the
Marconi Medical Systems of Ohio, formerly Pickerregent-like titles of Medical Imaging Company of
International, was already a huge part in its ownthe Year, New Care Setting of the Year, and
right among major global CT suppliers. WithMedical Imaging Technology of the Year. The
Marconi, Philips obtained cutting-edge multi-slice CTother two were for Technology Leadership and
technology along with cardiology, oncology andServices Innovation Leadership. The answer of
PET/CT imaging applications. These twoJouko Karvinen, president of Philips Medical
acquisitions in one year put Philips in the top threeSystems, to the what he recieved sounded like
for the entire medical equipment industry alongthe equivalent of an industry coronation speech.
with giants Siemens and GE Medical some say asHe stated, "We proudly recieve the Frost &
number two. In 2005, the expansion kept going asSullivan Awards as an independent validation of
Philips bought Stentor, Inc. of California, providerPhilips business and technology leadership. These 5
best-in-class picture archiving and communicationsawards are further indicators that Philips continues
systems (PACS). This move allowed Philips to aidto set the industry standard for developing
its clients successfully control the many amountsinnovative products that help treat patients and
of imaging data created by its medical scanners.save lives. Royal Philips. Long live the King!
Then, the next year, the expansion continued as