Working Hard to Sell Ventilators Not Wanted by U.S.: Philips CEO

The transcript discusses Philips' 2021 growth guidance, highlighting the impact of COVID-19 on healthcare trends and the company's strategic positioning. It addresses the resurgence of COVID-19 in Europe and its effect on revenue, particularly in elective procedures. The cancellation of a large US ventilator order is examined, along with Philips' efforts to manage inventory and find new buyers. The discussion concludes with an assessment of global health preparedness for a second wave of COVID-19, emphasizing the importance of cloud technology and telehealth in future healthcare solutions.

What is the expected growth rate for Phillips from 2022 onwards?

• 4 to 5%

• 5 to 6%

• 6 to 7%

• 3 to 4%

Which segment is expected to experience negative growth in 2021?

• Oral Care

• Personal Care

• Diagnosis and Treatment

• Connected Care

What is a major concern for Phillips regarding the resurgence of COVID-19 in Europe?

• Lack of cloud technology

• Shortage of healthcare staff

• Elective procedures not fully recovering

• Increased demand for ventilators

What was the reason for the US government's partial cancellation of ventilator orders?

• Low demand for ventilators

• Sufficient stockpile of ventilators

• Quality issues with ventilators

• High prices of ventilators

How did Phillips respond to the cancellation of ventilator orders?

• Increased production further

• Reduced prices of ventilators

• Focused on finding new buyers

• Stopped production of ventilators

What is a significant challenge faced by healthcare systems during the second wave of COVID-19?

• Lack of ventilators

• Shortage of testing

• Increased elective procedures

• Excessive healthcare staff

What technological solution is Phillips excited about for improving healthcare?

• Building more hospitals

• Developing new vaccines

• Leveraging cloud technology for data exchange

• Increased production of ventilators