Philips boosts production in light of COVID-19 demands

2019 12 18 18 21 0442 Philips Rsna 2019 400

Royal Philips, the parent company of Philips Healthcare, is increasing production of products used to help diagnose and manage COVID-19 cases.

Philips is ramping up production of hospital ventilators as a first priority, aiming to achieve a fourfold increase by the third quarter of 2020. The company plans to prioritize several other products relevant to addressing the pandemic, including CT, mobile x-ray, and ultrasound scanners, as well as various telehealth solutions for monitoring patients and connecting caregivers with patients at home.

In other news, Philips said it has now completed 50.3% of a 1.5 billion euro share buyback program initiated in January 2019.

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