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Philips Announces Plan for More Than USD 150 Million of New Investment in Manufacturing and R&D in the U.S. to Expand Production of AI-powered Health Technology Innovations

Global health technology leader, which serves 90% of U.S. hospitals, builds on top of existing U.S. investments to support local manufacturing and more than USD 900 million of annual R&D investment in the U.S.

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Philips, a global leader in health technology, today announced a plan for new investments of more than USD 150 million in U.S. manufacturing and research and development (R&D). As part of today鈥檚 announcement, Philips unveiled the expansion of its Reedsville, PA, manufacturing facility, which produces AI-enabled ultrasound systems for hospitals across the U.S.

Philips EPIQ Elite Ultrasound

These investments come on top of Philips鈥� annual USD 900 million R&D investment in the U.S. as well as investments in nearly 17,000 colleagues across 40 facilities in the United States. Philips has employees in every U.S. state supporting innovations used by clinicians and patients in 90% of hospitals across the country.

The investment announced today by Philips includes the expansion of its Reedsville, PA, site and the recently announced expansion of Philips鈥� Image Guided Therapy facility in Plymouth, MN. It also includes additional manufacturing and R&D projects which will come over the next several years to support the company鈥檚 growth in the U.S.

The Reedsville site, which currently manufactures transducers, will also customize the software and configurations of ultrasound systems for specific clinical procedures in cardiovascular, general and maternal care following the expansion. As an example, Philips鈥� industry-leading CV ultrasound platform delivers advanced tools to help doctors diagnose structural heart and coronary artery disease quickly and confidently [1].

鈥淭he proposed planned expansion of our manufacturing facilities is a demonstration of our deep commitment to the U.S. region,鈥� said Jeff DiLullo, Chief Region Leader, Philips North America. 鈥淓ach year, Philips spends $900 million in R&D in the U.S. to drive innovation and deliver cutting-edge technology that empowers healthcare professionals to diagnose, treat and monitor patients more effectively. Increasing our manufacturing and R&D capabilities will create jobs and accelerate our ability to deliver better care for more people with innovative AI-enabled solutions.鈥�

The expansion of the Reedsville site is expected to add 24,000 square feet of manufacturing space in addition to 40,000 square feet of warehouse space and is expected to create 120 skilled manufacturing jobs. The recently announced expansion of Philips鈥� image-guided therapy facility in Plymouth, MN, which includes the construction of a new medtech training center, is expected to create over 150 new jobs.

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About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people鈥檚 health and well-being through meaningful innovation. Philips鈥� patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home.

Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2024 sales of EUR 18 billion and employs approximately 67,300 employees with sales and services in more than 100 countries. News about Philips can be found at .

Forward-looking statements and other important information

This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips鈥� organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

View source version on businesswire.com:

Avi Dines

Philips North America

Tel: +1-781-690-3814

Email: [email protected]

Source: Royal Philips