Philips reclassified to Health Care sector by MSCI
Reclassification of Philips’ shares reflects company’s focus on health technology
Amsterdam, the Netherlands –`Royal Philips (NYSE: PHG, AEX: PHIA) today announced that MSCI Inc. (NYSE: MSCI), a leading provider of research-based indexes and analytics, has reclassified Philips to the Health Care sector from the Industrials sector, reflecting the company’s strategic focus on health technology. The reclassification was effective as of the opening of European markets on September 1, 2017.
“I am very pleased that following the reclassification by FTSE Group’s Industry Classification Benchmark last year, MSCI has now also reclassified Philips’ shares to the Health Care sector,” said Frans van Houten, CEO of Royal Philips. “This is another strong acknowledgement of Philips’ transformation into a focused health technology leader with a broad portfolio of innovative consumer health and professional healthcare solutions to improve people’s health and enhance productivity for care providers. The businesses in our HealthTech portfolio are strong and will enable us to drive further financial performance improvements.”
FTSE Group’s ICB reclassified Philips’ shares to Health Care in December, 2016. Subsequently, Philips’ sector classification for the STOXX Europe 600 Index was changed to Health Care in March, 2017. More information about Philips’ stock can be found here.
About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips' health technology portfolio generated 2016 sales of EUR 17.4 billion and employs approximately 71,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.
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’ 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.
By clicking on the link, you will be leaving the official Royal Philips ("Philips") website. Any links to third-party websites that may appear on this site are provided only for your convenience and in no way represent any affiliation or endorsement of the information provided on those linked websites. Philips makes no representations or warranties of any kind with regard to any third-party websites or the information contained therein.