Philips and Westchester Medical Center Health Network Announce USD 500 Million, Multi-Year Enterprise Partnership to Transform Patient Care

ANDOVER, Mass. & VALHALLA, N.Y.--(BUSINESS WIRE)--Royal

Philips (NYSE:PHG, AEX:PHIA) and Westchester

Medical Center Health Network

(WMCHealth) today announced a multi-year, USD 500 million partnership to

transform and improve healthcare for millions of patients across New

York's Hudson Valley. The partnership is based on an enterprise managed

services model through which Philips will provide WMCHealth with a

comprehensive range of clinical and business consulting services, as

well as advanced medical technologies such as imaging systems, patient

monitoring, telehealth and clinical informatics solutions. Moreover, the

collaboration aims to redefine how quality care is delivered in all

areas, including radiology, cardiology, neurology, oncology and

pediatrics, as WMCHealth expands beyond a single-campus academic medical

center into a multi-location regional healthcare provider.







The partnership is part of WMCHealth's transformation to a regional

network as the largest provider of integrated health in the Hudson

Valley. A 1,500-bed health system headquartered in Valhalla, New York,

WMCHealth spans seven hospitals and several campuses and locations,

along with nearly 300 healthcare partner organizations. Its flagship,

Westchester Medical Center, is the only regional resource for complex

medical and surgical interventions, covering 6,000 square miles in eight

counties and serving more than three million people.

"In order for us to make the large-scale improvements that will truly

impact the lives of our patients, we need to think longer term and be

able to adapt quickly as technology evolves," said Michael D. Israel,

president and CEO of WMCHealth. "Our alliance with Philips not only

gives us access to the latest in connected digital health technologies,

it will allow us to collaborate on pro-active health management and

co-create new patient-centered models of care for the Hudson Valley

area. Together, we are working to keep the Hudson Valley healthy through

a model that supports innovation and transformation in a value-driven

environment."

The partnership underscores Philips' commitment to provide new solutions

for hospitals and health systems driven by a fundamental shift in U.S.

healthcare management towards strategic partnerships for creating

long-term patient value, while managing costs, complexity and risk. In

similar long-term partnerships with Philips, hospitals have been able to

significantly improve radiology volumes and cut MRI waiting times in

half. These organizations are seeing a 35 percent reduction in

technology spending, while improving clinical quality.

"With health systems facing increased pressure and more complex

challenges than ever before, and patients starting to take a more active

role in their care, we can no longer accept the status quo," said Frans

van Houten, CEO of Royal Philips. "Health systems need a dedicated

partner that can bring not just technology, but also deep healthcare and

consumer expertise, resources and solutions that will help accelerate

the transformation of their organization and ecosystem. Our partnership

with WMCHealth reinforces our leadership in long-term, strategic

collaborations, allowing health systems to expand access to quality

care, manage costs and share risk. This allows them to focus on what

matters most: delivering better care to the people in their communities."



A core part of Philips' managed services model is the focus on

continuous improvement through collaboration with key health system

partners such as WMCHealth. A joint onsite WMCHealth - Philips team will

work to optimize medical technology deployment and IT integration into a

unified platform that will enhance WMCHealth's already impressive

operational excellence. With early and ongoing access to the latest

Philips innovations in health technology, WMCHealth will be able to

maximize the effectiveness of its participation in New York's Delivery

System Reform Incentive Payment (DSRIP) program, aimed at restructuring

the healthcare delivery system by reinvesting in the Medicaid program,

with the primary goal of reducing avoidable hospital use by 25 percent

over five years.

About Royal Philips



Royal Philips (NYSE:PHG, AEX:PHIA) is a diversified health and

well-being company, focused on improving people's lives through

meaningful innovation in the areas of Healthcare, Consumer Lifestyle and

Lighting. Headquartered in the Netherlands, Philips posted 2014 sales of

EUR 21.4 billion and employs approximately 108,000 employees with sales

and services in more than 100 countries. The company is a leader in

cardiac care, acute care and home healthcare, energy efficient lighting

solutions and new lighting applications, as well as male shaving and

grooming and oral healthcare. News from Philips is located at www.philips.com/newscenter.

About Westchester Medical Center Health Network



WMCHealth is a 1,500-bed healthcare system headquartered in Valhalla,

NY, spanning seven hospitals and several campuses and locations in the

Hudson Valley. Its flagship, Westchester Medical Center, is the only

regional resource for tertiary and quaternary care, covering 6,000

square miles in eight counties and serving more than three million

people. WMCHealth employs more than 10,000 people, with nearly 3,000

attending physicians. From Level 1 and Level 2 Trauma Centers, the

region's only children's hospital, an academic medical center, several

community hospitals and numerous health-related centers, programs and

services, today WMCHealth is the leading and pre-eminent provider of

integrated health in the Hudson Valley.

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