Georgia Bio Recognizes Philips, GRHealth With Deal of Year Award
Press release from the issuing company
Thursday, January 23rd, 2014
A 15-year, $300 million dollar alliance between Royal Philips and Georgia Regents Health System has been named a Deal of the Year in the Georgia Bio Awards that honor outstanding accomplishments of individuals, companies, and organizations within the Georgia life sciences community. The technology and innovative health corporation and Georgia's public academic health system, which is affiliated with Georgia Regents University, will be recognized at the annual Georgia Bio Awards Dinner in Atlanta on Jan. 23.
Through this first-of-its-kind deal in the United States, Philips is providing GRHealth with a comprehensive range of consulting services, advanced medical technologies, and operational performance, planning, and maintenance services with a pre-determined monthly payment. In addition, about a dozen Philips professionals are working in-house at GRHealth with clinicians, staff, and patient advisers to develop and implement better patient care solutions for the six million citizens across Georgia and South Carolina in the health system service area.
With more than 100 years of experience in health care, Philips aims to provide innovative solutions that address the complexities of health care delivery by working side-by-side with GRHealth. This deal follows collaborations with hospitals in Europe, Asia, the Middle-east and Africa that have resulted in improved clinical operations and care delivery performance.
Virtually the entire Philips portfolio is on the table including solutions in radiology, cardiology, neurology, oncology, pediatrics, and clinical informatics, as well as lighting and consumer products. In this synergistic relationship, both parties will find new and unique ways to advance the quality of patient care while sharing risks and rewards.
A new Philips-designed interventional radiology suite was one of the first projects completed when the deal was signed in June 2013. Since then, more than 525 state-of-the-art Philips monitors have been installed in patient rooms to track vital signs, and half a dozen new wireless portable, digital imagers have been deployed to provide real time imaging at the bedside for trauma and other emergent care needs.
