Philips was founded in 1891 by Gerard Philips and his father Frederik, producing lightbulbs. They have had many significant contributions to the tech industry in their 130+ year history, including pioneering the rotating blade electric shaver in 1939 which is now ubiquitously known in the US as the Norelco brand. They developed the tape cassette, introduced in 1963 and extremely popular throughout the 1980s and 1990s, before giving way to CD's, which were also developed by Philips in collaboration with Sony! The pair were also instrumental in the creation and development of DVD technology. Philips is truly among the upper echelon of tech companies in history and were lauded with an honorary 'royal' title in 1998 in the Netherlands.
Today, Philips has divested much of their other divisions in order to focus on health technology. Philips completed their acquisition of SafeLogic partner BioTelemetry in early 2021 and will consolidate the business unit into their Connected Care segment. BioTelemetry fits well with Philips' cardiac care portfolio and the entire organization. With 2020 sales of $450 million USD, BioTelemetry adds a complete range of clinically validated ambulatory cardiac diagnostics and monitoring services: Short-term Holter monitoring services, Long-term Holter monitoring services, Event recorder services, and Mobile Cardiac Outpatient Telemetry (MCOT) services. BioTelemetry has built one of the world’s largest remote cardiac monitoring services networks, providing services for over one million patients per year. Additionally, BioTelemetry has a clinical research business that provides testing services for clinical trials. We are very excited about the opportunity to partner with BioTel in this new chapter of their growth and help support the Philips vision!