Philips now into the home healthcare business in India. Now Philips focused on the delivering both the devices and medical services at the customers.
The company carried out a pilot study under ' Project Vijay' for operating home healthcare business for over a year. In this report, Philips will prove home healthcare treatment ,diagnosis and care for ailment such as heart failure, respiratory disease, post-surgical treatment,sleep disorder, kidney and cancer care.
Philips is the latest corporate who enter in the home healthcare segment,will compete with startups like Portea and hospital chains such as Apollo and Max in this space.
As per CyberMedia Research, the market for home health in India is projected to reach $6.2 billion by 2020, growing at a CACR of 18% from $3.2 billion in 2016.
Philips India sales decline to Rs 6,282 crore last fiscal from 6,376 crore in 2014-15. The company's net profit too fell 6% to Rs 397.5 crore, as per its RoC disclosure.
However, Philips has demerged the lighting business into a separate entity in India from the current fiscal. Philips Lighting India has become a subsidiary of the parent firm Koninklijke Philips. Post the demerger, Philips India will continue with the customer lifestyle and healthcare arms.
Related news :
BJP not happy with 'Arun Jaitley' accepting the invitation of CM Mamata Banerjee
PAC postpones its meeting with Finance Ministry officials
