- Philips will move its North American research center to Cambridge,
Mass. to engage with the area’s rich innovation ecosystem
- Five-year alliance with MIT amounts to USD 25 million in total and
is an integral part of the company’s current R&D spend
ANDOVER, Mass. -- (Business Wire)
Royal Philips (NYSE: PHG, AEX: PHIA) today announced it has signed a
five-year research alliance with the Massachusetts Institute of
Technology (MIT) aimed at developing innovative HealthTech solutions to
address society’s most pressing challenges in healthcare, as well as
digital connected lighting systems to address the need to make cities
more livable and sustainable.
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Henk van Houten, Philips Global Head of Research, stands in front of the new Philips Research headquarters for North America in Cambridge, MA (Photo: Business Wire)
With a total budget of USD 25 million for the five-year term, this is
the largest research alliance undertaken by the company in the region.
It is an integral part of a broader Philips strategy to accelerate
innovation and business growth. This also includes moving the company’s
research center to Cambridge, Mass., allowing Philips to collaborate
with other leading-edge institutes and partner companies as part of the
area’s rich innovation ecosystem. The move to Cambridge, within close
proximity of the MIT campus, will allow Philips researchers to
collaborate readily with MIT faculty and Ph.D students on jointly
defined research programs, as well as participate in open innovation
projects.
Joint teams will work on advancements in HealthTech, for example to help
improve the management of cardiovascular disease and the diagnosis and
treatment of various types of cancer, focused on improving patient
outcomes, while reducing costs. Through the alliance, Philips will gain
access to MIT’s experts and clinical partners, allowing the company to
better explore applications for population health management through the
use of patient-centric, high-resolution imaging, healthcare informatics
and data analytics.
In lighting, the collaboration will explore the advancement of
energy-efficient lighting systems and services for densely populated
cities. Philips recently announced unique innovations in connected,
cloud-based LED lighting for the city
of Los Angeles and the New
NY Bridge across the Hudson River in New York, and will explore new
ways to exploit the digitization of lighting.
“The Boston area is rich with innovative talent that is regularly
applying new thinking to solving big societal issues and developing
disruptive technologies that can address those issues in new ways; it’s
a culture and vision that is very much in line with that of Philips,”
said Henk van Houten, Global Head of Philips Research. “By moving to
Cambridge and collaborating with MIT, its staff and its partners,
Philips can work with some of the best minds in the world on healthcare
delivery, looking at ways to better prevent, manage or treat common
diseases across the health continuum. In addition, we will explore
advancements in connected lighting systems that can improve
energy-efficiency, safety, productivity and quality of people’s daily
lives.”
“Kendall Square is a vibrant innovation ecosystem, and I am thrilled
that Philips will further enhance the diversity of commercial market
segments located adjacent to campus,” said MIT Associate Provost Karen
Gleason. “Working in close proximity, the Institute’s researchers and
experts at Philips will endeavor to develop new digital and health
technologies that address key challenges in wellness and urban living.
Through industrial alliances like this one, we also hope to ramp up the
speed with which we move new technologies from the lab to impact.”
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150519006762/en/
Contacts:
Philips North America
Lea Armstrong, +1 978-659-3467
Public
and Media Relations
lea.armstrong@philips.com
or
Massachusetts
Institute of Technology
Kimberly Allen, +1 617-253-2702
allenkc@mit.edu
Source: Royal Philips
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