Philips in deals with U.S. hospitals on use of its gene data platform for cancer research

[June 01, 2017] By Bart Meijer

AMSTERDAM (Reuters) - Dutch healthcare technology company Philips said Thursday it had reached deals with New York's Memorial Sloan Kettering Cancer Center (MSK) and Utah-based Intermountain Healthcare for them to use its genomics platform for cancer research and treatment.

MSK, the world's largest private cancer center, will work with Philips on new methods to use genetic data in the diagnosis of pancreatic cancer. Intermountain Healthcare, which runs 22 hospitals and 180 clinics, aims to make its medicine program, which offers individually targeted treatments, available to hospitals worldwide.

Financial details of the deals were not disclosed.

The deals are part of Philips' strategy to grow its data-driven heathcare operations after disposing of all its non-healthcare related businesses in 2016.

Philips estimates the connected care and health informatics market will reach a total value of around 70 billion euros in 2019. Philips reported 3.2 billion euros ($3.6 billion) in revenues from connected care in 2016.

(Reporting by Bart Meijer, editing by David Evans)

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