China enables Phillips to obtain strong growth in Q3
Despite selling off its lighting division in 2016, Dutch company Phillips’ healthcare focus has seen it go from strength to strength. Gaining strong results in its third quarter rising by up to 12% to €532 million before interest, taxes and amortization (EBITA). Sales have also risen up to approximately 5%, with its net income rising by over 20%.
A number of companies are shifting their focus towards the healthcare market, which is showing increased potential and openness towards new technologies and medical devices which will support the delivery of patient centered care worldwide.
"We are very optimistic about our opportunities in China," Phillips’ Chief Executive Frans van Houten has said.
"Our toothbrushes continue to sell very well, while the growth of private hospitals diminishes the risk of government preferring domestic suppliers."
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“Philips’ performance in the third quarter demonstrates that we continue to deliver on our plan,” Chief Executive Frans van Houten added. “Despite ongoing global uncertainties, our outlook for 2017 remains unchanged.”
Nonetheless, sales growth in Europe and North America in comparison has decreased significantly, however.
Although famed for its focus on lightbulbs, televisions and consumer electricals, Philipps is increasingly moving into the healthcare market. Since 2015, it has undergone up to 10 acquisitions within this area.
From image-guided therapy, such as its acquisition of Volcano, The Spectranetics Corporation and CardioProlific Inc, it has placed significant focus on areas such as health and wellness, health management and informatics, and technologies to support medical professionals to deliver exceptional patient diagnostics.
Check Point: Securing the future of enterprise IT
Cybersecurity solutions provider Check Point was founded in 1993 with a mission to secure ‘everything,’ and that includes the cloud. Conscious that nothing remains static in the digital world, the company prides itself on an ability to integrate new technology with its solutions. Across almost three decades in operation, Check Point, with its team of over 3,500 experts, has become adept at protecting networks, endpoints, mobile, IoT, and cloud.
“The pandemic has been somewhat of an accelerator in the evolution of cyber risk,” explains Erez Yarkoni, Global VP for Cloud Business. “We had remote workers and cloud adoption a long time beforehand, but now the volume and surface area is far greater.” Formerly a CIO for several big-name telcos before joining Check Point in 2019, Yarkoni considers the cloud to be “part of [his] heritage” and one of modern IT’s most valuable tools.
Check Point has three important ‘product families’, Quantum, CloudGuard, and Harmony, with each one providing another layer of holistic IT protection:
- Quantum: secures enterprise networks from sophisticated cyber attacks
- CloudGuard: acts as a scalable and unified cloud-native security platform for the protection of any cloud
- Harmony: protects remote users and devices from cyber threats that might compromise organisational data
However, more than just providing security, Yarkoni emphasises the need for software to be proactive and minimise the possibility of threats in the first instance. This is something Check Point assuredly delivers, “the industry recognises that preventing, not just detecting, is crucial. Check Point has one platform that gives customers the end-to-end cover they need; they don't have to go anywhere else. That level of threat prevention capability is core to our DNA and across all three product lines.”
In many ways, Check Point’s solutions’ capabilities have actually converged to meet the exact working requirements of contemporary enterprise IT. As more companies embark on their own digital transformation journeys in the wake of COVID-19, the inevitability of unforeseen threats increases, which also makes forming security-based partnerships essential. Healthcare of Ontario Pension Plan (HOOPP) sought out Check Point for this very reason when it was in the process of selecting Microsoft Azure as its cloud provider. “Let's be clear: Azure is a secure cloud, but when you operate in a cloud you need several layers of security and governance to prevent mistakes from becoming risks,” Yarkoni clarifies.
The partnership is a distinctly three-way split, with each bringing its own core expertise and competencies. More than that, Check Point, HOOPP and Microsoft are all invested in deepening their understanding of each other at an engineering and developmental level. “Both of our organisations (Check Point and Microsoft) are customer-obsessed: we look at the problem from the eyes of the customer and ask, ‘Are we creating value?’” That kind of focus is proving to be invaluable in the digital era, when the challenges and threats of tomorrow remain unpredictable. In this climate, only the best protected will survive and Check Point is standing by, ready to help.
“HOOPP is an amazing organisation,” concludes Yarkoni. “For us to be successful with a customer and be selected as a partner is actually a badge of honor. It says, ‘We passed a very intense and in-depth inspection by very smart people,’ and for me that’s the best thing about working with organisations like HOOPP.”