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Philips in deals with US hospitals on use of its gene data platform for cancer research

Reuters Health News Jun 06, 2017

Dutch healthcare technology company Royal 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. In a statement, Philips said its researchers, data scientists and genomic analytics experts "will work with Scott Lowe PhD, Chair of the Cancer Biology and Genetics Program at the Sloan Kettering Institute at MSK, and Christine Iacobuzio–Donahue MD, PhD, Associate Director for Translational Research at the David M. Rubenstein Center for Pancreatic Research at MSK, and colleagues on the collaboration."

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 healthcare 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.

Philips will be showcasing their technology this weekend at the American Society of Clinical Oncology Annual Meeting (ASCO) in Chicago.

—Bart Meijer

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