Philips Ranked as World’s Most Innovative Medtech Company in Boston Consulting Group’s Annual Report
July 01 2020 - 9:00AM
Business Wire
Innovative healthcare technology company jumps
6 spots in exclusive listing, landing in top 25
Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health
technology, today announced that the company has earned a place on
Boston Consulting Group’s (BCG) “The Most Innovative Companies
2020” ranking of the top 50 most innovative companies worldwide,
moving up 6 spots from 2019. In its new 2020 position at number 23,
Philips also ranks as the most innovative medtech company and is
one of only 162 companies to have ever appeared on the list in its
14 years of publication.
BCG’s “The Most Innovative Companies” ranking is based on an
algorithm that takes four factors into account—the first three of
them based on a survey of 2,500 global innovation executives:
global “mindshare,” industry peer view, industry disruption, and
3-year total shareholder return. The ranking is part of a larger
BCG report: The Most Innovative Companies 2020: The Serial
Innovation Imperative. Driving Philips’ innovation is its
significant investment into research and development in the U.S. on
everything from artificial intelligence to machine learning and
virtual reality, to improve healthcare.
“Innovation has been a Philips cornerstone since our inception
nearly 130 years ago and has never been more important than in
today’s healthcare environment. We have developed new solutions and
unique ways to deliver care to improve the experience for
healthcare providers and outcomes for patients,” said Joseph
Frassica, M.D., head of Philips Research Americas and chief medical
officer for Philips North America. “This focus includes everything
from looking at ways we can monitor patients without sensors, to
providing our veterans and active duty personnel access to the best
possible care, to displaying patient information right in front of
a surgeon during a procedure. Improving people’s lives is at the
core of everything we do.”
In addition to its placement on BCG’s “The Most Innovative
Companies of 2020” ranking, Philips also earned a spot on the
Forbes Global 2000 as one of the 10 largest public healthcare
companies in the world, and was included in Forbes’ list of
America’s Best Employers for Diversity in 2020. To view an
interactive guide to BCG's “The Most Innovative Companies” rankings
over time and this year’s report, please visit
https://www.bcg.com/publications/2020/most-innovative-companies/data-overview.aspx.
About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health
technology company focused on improving people's health and
enabling better outcomes across the health continuum from healthy
living and prevention, to diagnosis, treatment and home care.
Philips leverages 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 in consumer health and home care. Philips generated 2019
sales of EUR 19.5 billion and employs approximately 81,000
employees with sales and services in more than 100 countries. News
about Philips can be found at
http://www.philips.com/newscenter.
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version on businesswire.com: https://www.businesswire.com/news/home/20200701005126/en/
Avi Dines Philips North America Tel: +1 781-690-3814 E-mail:
avi.dines@philips.com
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