Philips expands innovation footprint in India with a new R&D center in Pune

April 16, 2024
April 16, 2024 -- Pune, India - Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today marked the ground breaking ceremony of a new R&D centre to expand its Healthcare Innovation Centre (HIC) in Pune, Maharashtra, illustrating India's growing importance for healthcare innovation around the globe.

Situated in a 10-acre plot in MIDC, Chinchwad, the upcoming facility will have an office space of approximately 300,000 sq. ft in the first phase and will house 1900 employees.

The new center, to be operational in two years, will accommodate R&D teams from the company's Image Guided Therapy, Precision Diagnosis, Monitoring and Sleep & Respiratory businesses. By integrating all teams in one center, Philips will be able to optimize for scale, speed and efficiency while also supporting resource and best practice sharing across businesses. Working on innovative health technologies, the new centre will contribute to Philips' global mission to improve the lives of 2.5 billion people a year by 2030.

Underscoring a commitment to sustainability, the new centre will have Green Power, provide EV charging provisions and encourage bicycle commuting. In addition to being a significant landmark in Philips' global footprint, the launch of this center also strengthens Philips' commitment to taking a technology-first approach towards expanding access to care.

Collectively employing a strength of over 9000 employees, the Healthcare Innovation Centre in Pune, the Innovation Campus in Bengaluru, the Global Business Services in Chennai, and commercial team headquartered in Gurgaon, are integral to Philips' operations in India. Together, they are, also, fully committed to support the Indian government as it aims to meet its healthcare goals of strengthening the medical devices industry in India.

'Since its inception 130 years ago, Philips has been driven by a sharp focus on innovating for the future. In keeping with this objective, our Healthcare Innovation Centre in Pune provides unique and far-reaching capabilities to address the needs of both Indian and global markets. This new center will further strengthen our commitment to supporting the Indian healthcare ecosystem with innovative and sustainable solutions and leveraging the same for customers globally' said Bert van Meurs, Executive Vice President and Chief Business Leader of Image Guided Therapy, Chief Business Leader of Precision Diagnosis (ad interim), and responsible for Diagnosis & Treatment.

'Philips Healthcare Innovation Centre is at the forefront of understanding and responding to some of the outstanding healthcare challenges both in India and in global geographies. With the launch of this new centre, we will be able to design more innovative end-to-end solutions and collaborate better with healthcare providers as we look to meet our common goal of attaining better health outcomes' said Peeyush Kaushik, Vice President and Head of Healthcare Innovation Center, Pune.

Established in 2011, Philips Healthcare Innovation Centre (HIC), Pune, is focused on multi-modality healthcare R&D and smart manufacturing, complete product development incorporating customer feedback to commercialization, and operational excellence. It is committed to developing an innovation ecosystem and providing a competitive cost advantage in developing global products while aligning to the Indian government's Make in India initiative. With a reach expanding across 140 countries, Philips HIC plays a key role in Philips' strategy.

Earlier in November 2023, Philips India inaugurated its new innovation campus in Yelahanka, Bengaluru. Accommodating over 5,000 professionals in a 650,000 sq. ft. facility, the new campus will focus on innovative health technologies aimed at improving patient experiences, achieving better health outcomes, improving staff experiences, and lowering the cost of care. Please find here more information on this announcement: Philips launches new innovation campus in Yelahanka, Bengaluru.

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being through meaningful innovation. Philips' 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 2023 sales of EUR 18.2 billion and employs approximately 69,700 employees with sales and services in more than 100 countries.