ST Engineering and Philips Collaborate to Provide Advanced Digital Health Solutions in Asia Pacific
SINGAPORE - Media Outreach Newswire - 3 September 2024 - ST Engineering and Royal Philips (NYSE: PHG, AEX: PHIA) today announced a new strategic partnership to offer complementary digital health solutions for bedside support and capacity management.
These include ST Engineering's operations command centre, robotics and AI-enabled applications, and Philips' clinical command centre, to drive empirical outcomes and enhance the digital transformation efforts of healthcare providers in Asia Pacific (APAC), starting with Singapore.
The partnership, inked at ST Engineering's annual InnoTech Conference, combines Philips' global leadership in remote health technology with ST Engineering's extensive digital tech capabilities. The joint objective is to help health systems bridge gaps in actionable data utilisation while leveraging real-time insights to optimise care access and patient flow, a key area that healthcare systems in APAC are moving into to improve patient care impacted by workforce shortages and growing demand.
Key collaborative efforts between ST Engineering and Philips are as follows:
- ST Engineering's AGIL® Care next-generation operations command centre and Philips' clinical command centre synergises insights from operational and clinical data on the respective systems. They effectively form a holistic command centre with full situational awareness of the entire patient journey via an interoperable remote service model. Leveraging machine learning and advanced analytics, hospital systems driving similar remote services can expect to reduce length of stay by more than 20%[1].
- Philips' application which captures streaming clinical data from more than 1,000 bedside devices, is compatible with ST Engineering's AI-driven AGIL® Assistive IoT Platform which consolidates IoT assets within the hospital into a single platform. This has the potential to bring together data on patient status, enabling healthcare providers to extend care delivery services beyond hospital operations.
"Healthcare leaders in APAC are looking to build a cohesive patient story by bringing data from different sources together in a meaningful way to enhance their ability to provide timely and high-quality care to patients. We are excited to collaborate with ST Engineering to provide our complementary digital solutions to help healthcare providers stay ahead of these needs, intelligently connecting people, data, and technology to bring better care for more people in APAC," said Dan Ball, Head of Enterprise Informatics, Philips APAC.
In Philips' Future Health Index 2024 survey of 600 healthcare leaders in APAC, 93% in APAC and 84% in Singapore reported that they experienced data integration challenges in their organisation. Improved data accuracy, data security and privacy, and interoperability between platforms and healthcare settings were identified as ways to change how data is being handled to provide timely and high quality care.
[1] Armaignac, Donna Lee, Anshul Saxena, Muni Rubens, Carlos A. Valle, Lisa-Mae S. Williams, Emir Veledar, and Louis T. Gidel. "Impact of Telemedicine on Mortality, Length of Stay, and Cost Among Patients in Progressive Care Units." Critical Care Medicine 46, no. 5 (2018): 728-35.
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About ST Engineering
ST Engineering is a global technology, defence and engineering group with a diverse portfolio of businesses across the aerospace, smart city, defence and public security segments. The Group harnesses technology and innovation to solve real-world problems, enabling a more secure and sustainable world. Headquartered in Singapore, it has operations spanning Asia, Europe, the Middle East and the U.S., serving customers in more than 100 countries. ST Engineering reported revenue of over $10b in FY2023 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of MSCI Singapore, FTSE Straits Times Index and Dow Jones Sustainability Asia Pacific Index.
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About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being through meaningful innovation. Philips' patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home.
Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2023 sales of EUR 18.2 billion and employs approximately 69,700 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.
