Philips Healthcare Wins C$300 Million Contract In Canada

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The deal is one of a number the company has inked in recent years of increasing size.

AMSTERDAM – Philips said on Tuesday it has won a C$300 million ($226 million) long-term contract to act as medical technology supplier and consultant to Canadian healthcare provider Mackenzie Health.

CEO Frans van Houten said the 18-year contract with Mackenzie is the kind of deal that will become increasingly important to Philips when it becomes a pure “health tech” company next year. Philips is in the process of selling its lighting division, the world’s largest lighting maker.

In the past, Philips and major competitors Siemens and General Electric competed primarily on the price and quality of individual high-end healthcare machines such as CT scanners or patient monitoring systems.