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Philips Previews Five-Year Plan As Connected Care Returns Group To Growth In Q3

 
• By Ashley Yeo

COVID-19 business volatility continues to impact the medtech industry, but Royal Philips is targeting modest comparable sales growth for 2020 after posting quarterly growth of 10%.

Growth

Royal Philips’ sales rebounded in the third quarter of 2020, growing 10% to €4.98bn ($5.83bn) on a comparable basis, after a coronavirus-affected second quarter which saw comparable sales drop by 6%.

The connected care business once again outperformed both diagnosis and treatment (D&T), and personal health, expanding by 42% in Q3 after being the sole growth area in Q2. Double-digit growth...

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