Premium consumer goods company Koninklijke Philips N.V PHG recently equipped the healthcare sector with ‘Lumify’, its new App-Based Ultrasound device. The product’s cloud-enabled system and tablet technology would offer greater mobility, connectivity and flexibility during any ultrasound process. With the launch of Lumify, Philips has not only reinforced its innovation-based growth trajectory but also helped medical science to stride one step forward.
Lumify’s cloud-based infrastructure would facilitate improved care for patients through powerful data analytics solutions. With such a modernized infrastructure, the system will be able to appropriately integrate health system equipments with different patient profiles. The product is actually an amalgamation of integrated information technology, transducer technology, advanced transducer technology and mobile applications that would lower the cost of treatment but improve its quality. The product would be commercially available in the U.S. market by the end of 2015. Lumify is designed for use in urgent care centers, emergency departments or clinics.
Philips is one of the largest electronics companies of the world, while its healthcare segment is the one of the largest manufacturers of medical diagnostic equipment. This segment has four strategic business groups – Healthcare Informatics, Solutions & Services; Imaging Systems; Patient Care & Monitoring Solutions; and Customer Services. We believe the new innovation would help fortify Philips’ existing product portfolio and also enhance its brand value in the market.
Stocks to Consider
Philips currently holds a Zacks Rank #2 (Buy). Other stocks worth considering in the industry include GigOptix, Inc. GIG, Samsung Electronics Co. Ltd. SSNLF and Jason Industries, Inc. JASN. GigOptix, Inc. presently sports a Zacks Rank #1 (Strong Buy), while both Jason Industries, Inc. and Samsung Electronics Co. Ltd. carry the same Zacks Rank as Philips.
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