Philips Predicts Weaker Market for Health-Care Gear in 2012
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Royal Philips Electronics NV forecast weakening demand for health-care equipment in Europe next year as deteriorating economies crimp spending on body scanners and heart monitors.
The Dutch company has imposed controls on discretionary spending and scaled back hiring plans as it seeks to “prudently manage the situation,” Steve Rusckowski, chief executive officer of Philips Healthcare, said in an interview.