Philips announced the largest IT contract in the market of health care

2015: Medical contract of Philips for $500 million

On June 16, 2015 Philips announced the conclusion of the largest contract in the history in the market of health care. The most part of this agreement concerns deliveries of information systems and services.

According to Bloomberg news agency with reference to the statement Philips, the company signed the agreement with the medical center of Westchester Medical Center to which within 15 years it will render clinical consulting services and to supply the equipment for control and observation of patients, the systems of digital medical visualization and tools of the analysis of medical data.

Philips announced the conclusion of the largest contract in the history in the market of health care

The cost of the contract is estimated at $500 million and the biggest is for Philips in the market of health care. The Dutch company will receive 30% of the specified amount within three years from the moment of signing of the contract, the remained 70% will be distributed for the 12-year period of operation of the agreement. The profit expected from it corresponds to income which Philips predicts in all market of medical solutions, the head of the producer Frans van Houten said.

According to Frans van Houten, the begun cooperation with the medical center of Westchester corresponds to strategy implementation of Philips and reflects rich experience of the company in the field of health care, prevention of diseases, diagnostics and home care.

Services and software in medicine play an important role as they allow to compensate the flat demand on the medical equipment, the head of Philips noted on June 16, 2015, having added that for the last few years the company signed 40 large contracts in the market of health care.^[1]

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