Royal Philips has funneled roughly $164 million (€140 million) into two separate business deals with the Kliniken der Stadt Köln (Clinics of Cologne) and Städtische Klinikum München (Munich Municipal Hospital) in Germany, the company announced this month.
Philips’ deal with Städtische Klinikum München, one of the largest municipal hospital groups in the country, is valued at around $58 million (€50 million), according to a release. Over the course of eight years, the company is expected to provide the hospital with “state-of-the-art imaging systems and clinical informatics” in addition to renewing more than 200 imaging systems throughout the building.
The sheer size of the project makes it the largest medical tech venture for a single clinic in Europe.
New technologies will be rolled out in a phased approach, hospital officials said, and the partnership between Städtische Klinikum München and Philips will be needs-based.
“The goal of the partnership with Philips is to jointly increase the quality and efficiency of care with a focus on enhancing the patient and staff experiences,” Axel Fischer, chairman of the Board of Management at the Städtische Klinikum München, said in the release. “By combining innovative technology concepts that address the evolving needs of our patient population with continuous improvement of our processes, we aim to ensure cost-effective care for patients in the Munich region over the long-term.”
At the Kliniken der Stadt Köln, Philips will be responsible for procuring new and replacement medical imaging devices, along with maintenance and service, as part of its $105 million (€90 million) deal. Clinic locations in Holweide, Merheim and the Children’s Hospital Amsterdamer Strasse will reap the benefits of a program that aims to identify cost savings across the clinics and improve quality and efficiency of care.
“Through these innovative partnership models we will support the Städtische Klinikum München and Kliniken der Stadt Köln to continuously improve delivery of care for their patient populations,” Peter Vullinghs, market leader at Philips DACH, said.
After graduating from Indiana University-Bloomington with a bachelor’s in journalism, Anicka joined TriMed’s Chicago team in 2017 covering cardiology. Close to her heart is long-form journalism, Pilot G-2 pens, dark chocolate and her dog Harper Lee.