Philips expands innovation footprint in India with a new R&D center in Pune

Press releases may be edited for formatting or style | April 16, 2024 Business Affairs
April 16, 2024 -- Pune, India - Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today marked the ground breaking ceremony of a new R&D centre to expand its Healthcare Innovation Centre (HIC) in Pune, Maharashtra, illustrating India's growing importance for healthcare innovation around the globe.

Situated in a 10-acre plot in MIDC, Chinchwad, the upcoming facility will have an office space of approximately 300,000 sq. ft in the first phase and will house 1900 employees.

The new center, to be operational in two years, will accommodate R&D teams from the company's Image Guided Therapy, Precision Diagnosis, Monitoring and Sleep & Respiratory businesses. By integrating all teams in one center, Philips will be able to optimize for scale, speed and efficiency while also supporting resource and best practice sharing across businesses. Working on innovative health technologies, the new centre will contribute to Philips' global mission to improve the lives of 2.5 billion people a year by 2030.

Underscoring a commitment to sustainability, the new centre will have Green Power, provide EV charging provisions and encourage bicycle commuting. In addition to being a significant landmark in Philips' global footprint, the launch of this center also strengthens Philips' commitment to taking a technology-first approach towards expanding access to care.

Collectively employing a strength of over 9000 employees, the Healthcare Innovation Centre in Pune, the Innovation Campus in Bengaluru, the Global Business Services in Chennai, and commercial team headquartered in Gurgaon, are integral to Philips' operations in India. Together, they are, also, fully committed to support the Indian government as it aims to meet its healthcare goals of strengthening the medical devices industry in India.

'Since its inception 130 years ago, Philips has been driven by a sharp focus on innovating for the future. In keeping with this objective, our Healthcare Innovation Centre in Pune provides unique and far-reaching capabilities to address the needs of both Indian and global markets. This new center will further strengthen our commitment to supporting the Indian healthcare ecosystem with innovative and sustainable solutions and leveraging the same for customers globally' said Bert van Meurs, Executive Vice President and Chief Business Leader of Image Guided Therapy, Chief Business Leader of Precision Diagnosis (ad interim), and responsible for Diagnosis & Treatment.

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