Koninklijke Philips N.V.PHG recently launched IntelliSpace Portal 8.0, the latest in its series of data sharing, analytics and visualization platforms, seeking to strengthen its position in healthcare informatics market. Also, the company is set to showcase a series of data-driven solutions at the 100th annual meeting of the Radiological Society of North America ("RSNA"), which constitutes a group of more than 54,000 medical professionals.
IntelliSpace Portal 8.0
The latest device, by meeting the critical requirements for complex radiology-related treatments, will likely bring ground-breaking improvement in treatment of cancer. Till now, Philips' peers have only produced 1-D or 2-D MRI-images for critical diagnostic radiology processes like "tumor ablation" and "chemoembolization". Equipped with highly advanced features like quantitative technology (qEASL) and Multi-Modality Tumor Tracking, IntelliSpace Portal 8.0 is pioneering the development of 3-D imaging scans that will significantly boost the clarity of these diagnostic processes.
Moreover, the latest edition of this comprehensive oncology suite includes over 68 clinical applications for 7 modalities including CT, MR, Ultrasound, Mammography and iXR that renders it far more superior to the prior versions. According to the company, since currently available conventional "image-guided local tumor therapies" have multiple demerits that mar their reliability; superior devices like IntelliSpace hold bright prospects.
Host of New Releases
This apart, Philips plans to showcase its extensive portfolio of "data-driven" healthcare solutions at the 2015 RSNA, to be held in Chicago from Nov 30-Dec 4. Solutions that are going to be exhibited on this platform include Diagnostic X-Ray Suite, IQon Spectral CT, Ultrasound Portfolio, Vereos Digital PET/CT and Image Guided Therapy. Also, the whole range of IntelliSpace PACS and IntelliSpace Portal solutions will be displayed in the event.
In order to develop a closer relationship with patients, Philips is also introducing services like DoseWise, Mammography Suite and MR in-bore experience, which will give patients a greater command over their treatment processes.
Overall, Philips' Healthcare segment has fared strongly over the past few quarters and the company continues to make concerted efforts to drive further growth in this segment. In third-quarter 2015, the company had introduced a new range of clinically proven sleep-care solutions for obstructive sleep apnea patients as well as signed an agreement for deployment of advanced Image-Guided Therapy technologies at Dutch Catharina Hospital.
We believe the immunity of the healthcare sector against macroeconomic problems, apart from the company's product launches, offers it a great deal of stability amid volatility in the market. This is because even during tough economic times, healthcare services always remain a vital concern for consumers, while discretionary purchases are curtailed. Going forward, national health expenditure is expected to increase as proportion of senior citizens - who constitute the major consumer base of healthcare services - will likely rise. We believe such positive market trends bode well for the company's healthcare business in the long term.
Phillips currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the sector include GigOptix, Inc. GIG , Mistras Group, Inc. MG and Sony Corporation SNE . All three stocks sport a Zacks rank #1 (Strong Buy).
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