Philips Health-Care Markets Returning to Pre-Crisis Levels
Royal Philips Electronics NV, the world’s largest maker of patient-monitoring systems, said healthcare markets are returning to pre-crisis levels and growth in the U.S. is expected to be in the “low single-digits” this year.
Economic recovery and pent up demand for equipment, software and services will help spur U.S. sales, according to a company presentation on its Web Site today. China, India and Russia will help generate double-digit growth at the Amsterdam- based company’s so-called growth geographies.
Healthcare International, which includes Western Europe, Japan, South Korea, Australia and New Zealand, will show a flat to modest growth in 2011 with softening market conditions in southwest Europe and potential headwinds from the Japan earthquake, the company said.
Philips, which competes with Siemens AG (SIE) and General Electric Co (GE) in home healthcare, is looking for ways to accelerate growth by generating more value from existing acquisitions and pursuing new deals, the presentation from Healthcare Chief Executive Officer Steve Rusckowski said.
To contact the reporter on this story: Maaike Noordhuis in Amsterdam at mnoordhuis@bloomberg.net
To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net
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