Royal Philips, a Netherlands-based company, launched its Healthcare Innovation Center in Pune, in the western state of Maharashtra – the first-of-its-kind in an emerging market.
In an interview with Business Standard, Sameer Garde, president, South Asia, Philips Healthcare, said, “At present we are focused on diagnostic, therapy, treatment, post therapy, and home care. But there is a significant amount of opportunity in healthy living. It is an upstream solution for healthcare. At present we are directly concerned with patients who have had an incident and require a diagnosis or intervention. What we want to get into is upstream health opportunity which is healthy living. This will constitute products such as Airfryer, skin care products, and hair care products. Prevention is a huge part of healthcare, if India as a country spends and focuses on healthy living the cost of downstream cost on health will go down.”
Healthcare is the biggest revenue generator for the company with the segment’s contribution touching 50 percent revenues.
n an emerging market.