Royal Philips’ IGT Goes For The Structural Heart
Value-based concepts also apply in diagnosis and treatment
Royal Philips’ image-guided therapy business has rebounded, as expected, after the COVID-19 dip, and is now targeting expansion in a number of areas, as business leader Bert van Meurs explains.
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The plum in the middle of Philips' intense period of M&A this summer was the €1.9 billion purchase of Spectranetics, which, combined with Philips Volcano, should create a $1 billion+ devices business within the image-guided therapy group by 2020. IGT senior vice president and general manager Bert van Meurs explains the rationale behind the deal, and what's next for Philips.
While revenues are looking healthier at last, a host of issues in the post-COVID readjustment phase still weigh heavily on medtech manufacturers in Germany, chief among which is EU and national over-regulation. Hospital reform and the digital shift are also on a long list of priority issues to monitor and tackle if Germany’s industrial base is to remain preeminent, said BVMed chief executive Marc-Pierre Möll.
Environmental demands, the evolution of care models, new delivery technologies and AI tools are influencing how medtechs must approach innovation.