Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that it has acquired Xhale Assurance Inc, a US-based scale-up company developing and commercializing next-generation sensor technologies. Xhale Assurance’s unique, disposable pulse oximetry sensor is placed on the wing (ala) of the nose, and can reliably measure and transmit a patient’s heart rate and blood oxygenation under low perfusion (diminished blood circulation) conditions that are challenging for conventional fingertip pulse oximetry sensors. This technology will broaden and differentiate Philips’ existing portfolio of oxygen saturation monitoring solutions and allow the company to expand into a currently underserved clinical segment. Financial details of the transaction were not disclosed.

"Xhale Assurance’s nasal alar sensor offers exceptional clinical capabilities and strengthens our patient monitoring offering with a next-generation pulse oximetry sensor technology," said Felix Baader, Business Leader of Monitoring & Analytics at Philips. “The sensor technology also offers opportunities to develop measurements of further physiologic parameters. I am excited that this will augment our ability to offer solutions that enhance patient safety, support clinical workflow, improve caregiver efficiency, and help our customers implement value-based healthcare.”

Xhale Assurance’s innovative alar sensor allows accurate measurement at lower oxygen saturation levels, which is essential for patients who have suffered a heart attack or a hypoxic event. As such, the sensor enhances patient safety by overcoming the shortcomings of existing oxygen saturation sensors, and can provide caregivers with early warning signals of impending adverse events.

Philips’ industry-leading patient monitoring portfolio addresses all acuity levels and care settings within hospitals and health systems, and supports a broad patient population – from basic screening to complex surveillance in critical care. It includes bedside and wearable patient monitors, consumables such as connected wearable biosensors, and clinical decision support tools and mobile applications for real-time clinical information at the patient’s bedside. More than 275 million patients are monitored each year with Philips’ patient monitoring solutions.

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August 29, 2018


Philips convenes Extraordinary General Meeting of Shareholders

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA) today convened an Extraordinary General Meeting of Shareholders and published the agenda with explanatory notes. In connection with the fundamental progress of Philips’ transformation into a solutions-driven health technology company, and further expansion of its leadership positions in the health technology market, the agenda items are:
•A proposal to strengthen the Supervisory Board with the appointment of Dr. A. Marc Harrison as a member per October 19, 2018. Dr. Harrison (American, 1964) is currently President and Chief Executive Officer of Intermountain Healthcare, a not-for-profit health system based in Salt Lake City (Utah, US) and the largest healthcare provider in the region. A specialist in pediatric critical care, Dr. Harrison has held leadership positions at Cleveland Clinic – including as CEO of Cleveland Clinic Abu Dhabi – prior to joining Intermountain in 2016. He has in-depth knowledge of health systems and the overall healthcare industry in North America, as well as globally.
•A proposal to determine the remuneration for members of the Supervisory Board at broadly median market levels with effect from October 1, 2018. The proposal follows discussions held with shareholders in multiple countries and institutional advisory organizations. It is aimed at attracting and retaining international Supervisory Board members of the highest caliber and with experience and expertise relevant to Philips’ health technology businesses.

The EGM will be held at the Hilton Amsterdam Hotel (Apollolaan 138, Amsterdam) on Friday, October 19, 2018, beginning at 9:30 hours CET.