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Wired News – Royal Philips Acquires VitalHealth, a Cloud-based Health Management Company

LONDON, UK / ACCESSWIRE / December 11, 2017 / Active-Investors issued a free report on Koninklijke Philips N.V. (NYSE: PHG), which is readily accessible upon registration at www.active-investors.com/registration-sg/?symbol=PHG as the Company's latest news hit the wire. On December 08, 2017, Koninklijke Philips NV (NYSE: PHG) ("Philips"), or Royal Philips, as it is known, announced the acquisition of VitalHealth, a leading provider of cloud-based population health management solutions. The acquisition allows Philips to expand its portfolio of population health management solutions. The financial and other terms of the acquisition were not shared by any of the concerned parties. Sign up now for our free research reports at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Koninklijke Philips most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:

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Commenting on the acquisition, Carla Kriwet, Chief Business Leader - Connected Care & Health Informatics Businesses at Philips, said:

"As a pioneer in comprehensive population health management solutions, we are committed to help drive business transformation for providers, health systems, employers, and payers transitioning to value-based care. VitalHealth will help us deliver on that commitment by strengthening our offering for care coordination, outcome management, and patient engagement."

Laurens van der Tang, CEO of VitalHealth, added:

"We are delighted and proud to become part of Philips. It will accelerate our mission to enable better health for millions of people around the world. Our digital health solutions are highly complementary to the ones that Philips provides. Together, we have the potential to become the undisputed global leader in population health management."

About VitalHealth

The Netherlands-based VitalHealth was founded in 2006 by Mayo Clinic (US) and Noaber Foundation (the Netherlands). The Company was formed to offer cloud-based eHealth solutions for people with chronic diseases such as Diabetes, COPD, CHF, Depression, Cancer, and Alzheimer's. Its solutions enable the delivery of personalized care outside of the hospital, for example, in regional care networks. The Company's success lies in its ability to use its global expertise and combine it with local insights enabling to deliver cutting-edge solutions for Population Health Management. These solutions include Outcome Measurement, Patient Engagement, Care Coordination, and Healthcare Analytics. VitalHealth's solutions include telehealth applications which helps patients to actively care for their own health while its care coordination platform for care providers collects patient information from multiple sources and aggregates the data to offer quick insights into the total population.

The Company's products and services are being used in over 100 healthcare networks across the globe including in countries like US, India, China, Sweden, Germany, Belgium, and the Netherlands. The Company has a team of approximately 200 employees.

How the acquisition benefits Philips?

With the addition of capabilities like advanced analytics, care coordination, patient engagement, and outcome management solutions from VitalHealth, Philips will expand and strengthen its current portfolio of population health management solutions. The move is especially important given that patient care is moving from hospitals to lower-cost settings, including patients' home. Population health management is a proactive approach to improving health and reducing costs for entire patient populations. This involves collection of patients' data from multiple health IT sources, use of smart analytics to understand the health needs of the population, the navigation and coordination of care within that population as well as one to one engagement with each individual patient to improve both clinical and financial outcomes.

Philips has been growing its population health management business with the acquisition of Wellcentive in 2016. It already has a successful health informatics portfolio that helps hospitals and health systems with the ability to import, aggregate and analyze clinical, claims, and financial data. Additionally, it also offers patient engagement programs like telehealth, personal emergency response, and medication management. The current strategic acquisition will allow it to offer integrated solutions across the health spectrum from healthy living and prevention to diagnosis, treatment, and home care. VitalHealth's portfolio of telehealth applications and care coordination platform for care providers will enhance and complement Philips' Wellcentive's offerings. The combined portfolio of offerings will assist healthcare providers to better identify and manage high-risk, high-cost patient populations resulting in improved patient outcomes. The acquisition will also strengthen Philips' HealthSuite digital platform, the Company's digital enabler for the next generation of connected health solutions.

About Koninklijke Philips N.V.

Amsterdam, The Netherlands-based Philips is a leader in health technology, diagnostic imaging, image-guided therapy, patient monitoring, and health informatics as well as in consumer health and home care. The Company has a vision of making the world healthier and more sustainable through innovation and aims to improve the lives of 3 billion people a year by 2025. Philips leverages advanced technology and deep clinical and consumer insights to offer products and services across the health spectrum from healthy living and prevention to diagnosis, treatment, and home care. The Company has presence in over 100 countries and is supported by a team of approximately 73,000 employees.

In FY16, Philips' health technology portfolio generated sales of EUR 17.4 billion.

Stock Performance Snapshot

December 08, 2017 - At Friday's closing bell, Philips' stock was slightly up 0.10%, ending the trading session at $38.43.

Volume traded for the day: 526.18 thousand shares.

Stock performance in the previous six-month period – up 7.74%; past twelve-month period – up 29.74%; and year-to-date - up 25.71%

After last Friday's close, Philips' market cap was at $36.08 billion.

Price to Earnings (P/E) ratio was at 33.65.

The stock has a dividend yield of 2.24%.

The stock is part of the Consumer Goods sector, categorized under the Electronic Equipment industry. This sector was up 0.2% at the end of the session.

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