Philips 2014 Annual Report Download - page 49

Sector performance 6.1.5
Annual Report 2014 49
Philips was presented with the 2014 “Champion for
Change” Award by Practice Greenhealth. The award
honors businesses who have not only taken steps to
improve their organization’s green practices, but have
also gone the extra mile to help their clients and
associates expand their sustainable practices as well.
6.1.6 2015 and beyond
In September 2014 Philips announced its plan to
sharpen its strategic focus by establishing two stand-
alone companies focused on the HealthTech and
Lighting Solutions opportunities. To achieve this
transformation, from January 1, 2015, Philips started to
integrate the sectors Healthcare and Consumer
Lifestyle into one operating company focused on our
HealthTech businesses.
In the HealthTech space, Royal Philips will focus on the
vast market opportunities created by the convergence
of professional healthcare and consumer end-markets
across the health continuum, from healthy living and
prevention to diagnosis, treatment, recovery and home
care.
Building on combined clinical and consumer
capabilities, we will focus on solutions aimed at
empowering consumers and patients to take greater
control of their own health, enabling payers and
providers to improve outcomes while managing overall
cost, and helping governments increase access to high-
quality, aordable care.
From an external nancial reporting perspective, it
should be noted that the planned organizational
changes will require Philips to transition to a new
reporting structure in the course of 2015. At that stage,
and in view of applicable IFRS requirements, Philips will
report and discuss its nancial performance on the
basis of dierent reportable segments than the sectors
currently presented and discussed in this Annual
Report.
Further updates will be provided in the course of 2015.