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" I've always flagged that it will take some time to gradually sell down our interest in lighting and basically pivot to be a medtech company focused entirely on health technology. "

Frans van Houten

Company

Down

Time

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" In the back of my mind was the nagging discussion: where do we take the portfolio? You can get rid of TV, fine, but then you are in lighting and in health, and those don't have a lot to do with each other. "

" We can't think in terms of designing products that we throw over the wall to customers, but instead, we need to design products that are upgradable and maintainable and that can be mined for materials and components that can be reused. "

" If we can keep you healthy, that is better. If you fall sick, you go to the hospital. Both sides, Philips is present. "

Frans van Houten

You

Healthy

" By innovating and investing in health technology, we believe that we can really change the future of health. "

" Sometimes that Dutch consensus approach doesn't move you forward fast enough. "

" Employers can assist employees in looking after their health by giving guidance on energy management, sleep and healthy eating, working relationships, and helping maintain a sense of purpose at work. "

" Certain product categories become less attractive for us because, as they become mature, they become low-cost, and hence, there is less to invent. There is less to invent in a television, whereas in heath technology, there is a lot to invent. So we wanted to put our innovative power to work where it really matters. "

Frans van Houten

Technology

Work

" In an aging world with more chronic disease, health and healthcare are enormous opportunities that we want to focus on. "

" The shift in demand is toward partners that can improve productivity, and in part, that can be done by software. "

" I came back to Philips and quickly realised that the TV business had a major performance issue and some structural challenges. Rather than try to tweak it and sit things out, we said we had to go for a structural solution. "

" As soon as a disease is diagnosed, we still need someone to deliver the care. "

" We undertook a huge internal transformation to sharpen our customer focus, step up innovation, improve productivity to ensure competitiveness, change our culture, and simplify our ways of working so that our size and scale became a competitive advantage rather than a bureaucratic hangover after years of diversification. "

" Great companies need to reinvent themselves. We can do that: we can stay relevant, we can grow, and we can stay successful. It takes courage, but it's a path we've been preparing for carefully. "

" Philips is committed to the circular economy and is applying its principles throughout the organization. We are redesigning our products and looking at ways to capture their residual value. "

" The computer can do a much better job than the human eye, as it is much more systematic in analysing tissues. "

Frans van Houten

Human

Job

" Waste does not exist in nature because ecosystems reuse everything that grows in a never-ending cycle of efficiency and purpose. "

" Insurers reimburse critical care, not the avoidance of incidents. Therefore, investments are not targeted towards prevention. "

" We are very optimistic about our opportunities in China. Our toothbrushes continue to sell very well, while the growth of private hospitals diminishes the risk of government preferring domestic suppliers. "

" Healthcare continues to move outside the hospital and into our homes and everyday lives. With leading doctors and psychologists, for example, we've developed personal health programs designed around patients to catalyze sustainable behavioural change. "

" Our strategy is focused on driving better outcomes for patients and higher productivity for hospitals. "

" If we are to ensure that healthcare remains affordable and widely available for future generations, we need to radically rethink how we provide and manage it - in collaboration with key health system partners - and apply the technology that can help achieve these changes. "

" Healthcare is a conservative marketplace. "

" Changing the ways of governments usually doesn't happen quickly, but time is a luxury the world no longer enjoys. "