Dutch technology behemoth Koninklijke Philips N.V.'sPHG latest innovation "World's Sleepiest Website", a modern-day digital visual wonder, has been designed to come to the rescue of millions of sleep-deprived adults. The company's latest offering - SendMeToSleep.com - can improve the lifestyle for people suffering from obstructive sleep apnea (OSA) and other sleep-related disorders.
Over the past few quarters, Philips's Healthcare segment propelled significant growth for the company primarily buoyed by high spending on healthcare services. The latest launch reflects Philips' relentless efforts to maximize the long-term growth potential of the healthcare segment by leveraging on cutting-edge technology.
Released in collaboration with World Association of Sleep Medicine's annual event World Sleep Day, a body that is dedicated to resolve issues related to sleep, Philips' latest website offers a host of visual features including videos and images that will help cure problems of individuals suffering from sleep disorders. SendMeToSleep.com offers comforting content and counsel to help individuals doze off while resources like articles and quizzes will help calm their senses.
Interestingly, more than 100 million people suffer from OSA globally; out of which 80% remain undiagnosed which may give rise to long-term health issues like chronic sleeplessness and breathing problems. Apart from helping people sleep, Philips' website will spread awareness on the effects of sleeplessness that will help people understand their problems better.
The company's 2015 Philips Respironics survey reveals the tremendous potential of SendMeToSleep.com as 96% of people view sleep as valuable while 87% believes that the lack of adequate sleep can influence their overall health adversely. Out of the people surveyed in 10 countries, only 17 individuals did not complain of sleep deprivation. These statistics indicate the massive potential that Philips' website is likely to garner through increased membership, which in turn will boost its financials.
Nevertheless the long-term aspects of the healthcare business, challenging market conditions, escalating taxes and restructuring charges are primary headwinds impeding growth. Meanwhile, the present macroeconomic scenario hints toward a mixed outlook for Phillips' healthcare business in 2016 which is expected to grow in low-single digits in 2016 (lower than the growth rate recorded in 2015). Factors like anti-corruption initiatives and slow GDP growth in China as well as uncertainties related to the Affordable Care Act and reimbursement costs in the U.S. can tarnish matters for this Zacks Rank #5 (Strong Sell) company.
Better-ranked stocks in the industry include Control4 Corporation CTRL , Siemens Aktiengesellschaft SIEGY and Mistras Group, Inc. MG . All the three stocks sport a Zacks Rank #1 (Strong Buy).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
