Philips Sales Slide In Q2 But COVID-19 Drives Growth In Connected Care
Executive Summary
Philips reported $4.97bn in sales for the second quarter of 2020, a 6% decline compared to the second quarter of last year. While the pandemic slowed down demand across the business, Philips connected care business increased by 14% due to demand for respiratory devices.
You may also be interested in...
HHS Bails Out Of Contract With Royal Philips To Make Ventilators
The US HHS has partially terminated a deal it made in April with Philips to manufacture 43,000 medical ventilators. The contract had been worth a whopping $646.7m.
Beyond COVID-19: Industry Insiders Offer 10 Strategies For Medtech Recovery
Medtech insiders offer 10 strategies for medtech companies to rethink their businesses right now.
Royal Philips’ $646M Deal: US Govt Uses Defense Production Act To Order 45,500 Ventilators
Philips will make 43,000 medical ventilators by the end of 2020 for use in the US and manufacture 2,500 more for the Strategic National Stockpile in a contract worth more than half a billion dollars.