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Amsterdam, November 2, 2022 - Assessed based on business impact, metrics, brand communication, and uniqueness of its offering, Philips has been honored in the 2022 annual edition of Fast Company, Brands That Matter . Included in the Current Affairs category, Fast Company has recognized Philips as a brand that has provided a high-impact response to the major news and significant events of 2021, such as the current effects of the COVID-19 pandemic, along with its action on climate change, its advocacy for human rights, and its environmental, social and governance (ESG) performance.
respond with impact
In terms of impact, Philips continued to offer basic solutions for the treatment of COVID-19 patients, such as patient monitors and ventilators, and also improved the capacity of intensive care units (ICUs) to provide care 24 hours a day, 7 days a week, by expanding its eICU telehealth offering. It also provided solutions to improve care for remote patients, especially in remote and rural areas with limited access to health services, with innovations such as its Community Diagnostic Hubs (UK), Virtual Care Stations (USA) and Enlace (Brazil). In collaboration with the Philips Foundation and local NGOs, it deployed ICU support, oxygen concentrators, patient monitors and defibrillators in many of the areas most affected by COVID-19.
action on climate change
Philips continued to be net zero in its carbon footprint, with 100% of its operations powered by renewable electricity. Regarding the efficiency of materials, it applied the principles of Ecodesign to all new product developments, closed the cycle of the circular economy in more than 3,000 medical systems that were returned to it, achieved that 16% of sales came from circular economy products and solutions and sent zero waste to landfill. It also focused on delivering new XaaS (X-as-a-Service) and results-based business models that contribute significantly to healthcare cost containment and long-term sustainability.
A unique approach
The uniqueness of the Philips brand comes from its distinctive vision that health care is a continuous process - from healthy living and prevention to diagnosis, treatment and home care - in which it puts the expertise that people live through bringing health to the fore by creating integrated care pathways. Key components of these pathways include real-time data flow and the use of predictive data analytics and artificial intelligence* to achieve the fourfold goal of improving health outcomes for patients, enhancing the experience for patients and staff healthcare and reduce the cost of care.
brand communication
Throughout 2021, Philips communicated its vision and purpose through a variety of leadership content – from link stories and videos on the importance of link to executive blogs on healthcare link and news on company response to the pandemic and climate change - creatively expressing its determination to be a healthcare technology brand that is perceived as caring, innovative and impactful.
* According to the EU High Level Expert Group definition of AI.
About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHI) is a leading health technology company focused on improving people's health and well-being, and facilitating better outcomes across the health cycle, from healthy habits health and prevention, to diagnosis, treatment and home care. Philips uses its 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 consumer health and home care. Philips has recorded sales of €17.2 billion in 2021 and employs approximately 78,000 employees, with business operations and services in more than 100 countries. All Philips news is in our News Center
