Philips expands its Sleep & Respiratory Care portfolio with the acquisition of NightBalance + Philips sells its one billionth electric male grooming

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Algemeen advies 08/05/2018 08:27
Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that it has acquired NightBalance, a digital health scale-up company based in the Netherlands, that has developed an innovative, easy to use device to treat positional obstructive sleep apnea and positional snoring. Financial details of the transaction were not disclosed.

NightBalance’s Sleep Position Trainer (SPT) was designed as a comfortable and easy to use treatment alternative for people who suffer from positional obstructive sleep apnea. The SPT gently prompts them not to sleep on their back, avoiding the apneas from occurring during sleep. The SPT is CE-marked and is currently marketed in select countries in Europe [1].

“NightBalance offers a unique, patient friendly solution to treat positional obstructive sleep apnea and positional snoring that is highly complementary to our current offerings," said John Frank, Business Leader Sleep & Respiratory Care at Philips. "This acquisition will help us further expand our leadership position in the growing home care market, and our ability to deliver integrated solutions that drive efficiencies and improved outcomes.”

“We founded NightBalance in 2009 with the ambition to improve the lives of positional apnea patients worldwide”, said Eline Vrijland-van Beest, CEO of NightBalance. “I am proud that our innovation is in good hands with Philips. Their strength in connected sleep therapy solutions and global reach will accelerate the accessibility of the Sleep Position Trainer”.

Obstructive sleep apnea is a serious condition in which breathing pauses and restarts during sleep. When most of these pauses occur when a person is lying on his or her back, it is called positional obstructive sleep apnea. Philips already offers a broad range of care solutions for people living with obstructive sleep apnea. This includes the award-winning Dream Family comprising DreamWear, a comprehensive portfolio of advanced mask designs, DreamStation, a CPAP therapy [2] system connecting patients and care teams, and DreamMapper, an application that helps patients adjust to sleep therapy and compliance.

[1] SPT is not available in the US
[2] Continuous Positive Airway Pressure therapy

Philips sells its one billionth electric male grooming product .

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that it has sold its one billionth electric male grooming product – a broad portfolio of products that includes Philips’ shavers, beard trimmers, hair clippers and OneBlade, its revolutionary technology designed to trim, edge, and shave any length of hair.

“Our success in male grooming started in the 1930s, when a young Philips engineer by the name of Alexandre Horowitz drew inspiration from Philips' bicycle dynamo technology and created a rotary system with three blades rotating beneath a round, slotted shaving head,” said Jack van Strien, business leader Personal Care at Philips. “Philips changed the face of electric male grooming, and we continue to do so by combining world-beating design, innovation and manufacturing to develop and produce innovations such as OneBlade.”

Decades of experience and insights have enabled Philips to be at the forefront of personalization in personal care, delivering innovative propositions that support each unique individual with solutions tailored specifically to their needs.

The sale of the one billionth electric male grooming product was celebrated today at Philips’ innovation and manufacturing site in Drachten, the Netherlands. This milestone was achieved together with the company’s other global male grooming manufacturing and sourcing facilities. These facilities are part of Philips’ innovation and manufacturing footprint across major geographies.

As a global health technology company focused on meaningful innovations, Philips spends approx. EUR 1.7 billion on its R&D programs, of which approx. EUR 700 million is in the Netherlands. Fueled by the output of its innovation centers, Philips was one of the most active patent applicants at the European Patent Office in 2017. Philips’ total Intellectual Property portfolio currently consists of 62,000 patent rights, 37,600 trademarks, 47,800 design rights and 3,000 domain names.

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