Royal Philips Electronics NV (PHG) and Microsoft Corporation (MSFT) have collaborated to work on techniques that would simplify the work of radiologists, helping them in improving the clinical diagnosis of their patients. The companies are dedicated to combine individual technologies to form improved system, which would provide significant health information and enhance healthcare competence and productivity, at a minimum development and infrastructure cost.
The combination of Microsoft’s data aggregation platform, Amalga, with Philips’ picture archiving and communication system, iSite PACS, is intended to help radiologists in easily accessing the full set of stored information of individual patient. Information like the record of admission, discharge and transfer (ADT), lab reports, pathology reports and medicines prescribed together with the patient’s images stored in the iSite PACS system, can be accessed at once. This will reduce the analysis and diagnostic time and effort of the radiologists, in turn, providing a new level of insight about the patient. As per the deal, the two companies will work together to organize, market and sell a combined solution.
The restructuring of its product portfolio to better focus on the healthcare, lighting and lifestyle markets, is in progress with several acquisitions, divestments and collaborations in the recent quarters, which bodes well for the company going forward.
Philips’ global presence exposes the company to regional and local regulatory rules, which may interfere with the realization of business opportunities and investments in the countries in which it operates. Philips’ overall performance in the coming years depends on realizing its growth ambitions in the emerging markets.
Headquartered in Amsterdam, The Netherlands, Royal Philips Electronics N.V. is one of the world’s largest electronics companies. Philips Electronics currently holds a Zacks #5 Rank (short-term Strong Sell recommendation) on the stock.