Philips ranks for innovation

Tuesday, July 7, 2020

CAMBRIDGE, Mass. – Royal Philips has earned a place on Boston Consulting Group’s “The Most Innovative Companies 2020,” moving up six spots to No. 23 in this year’s rankings. Philips also ranks as the most innovative medtech company. The ranking is based on a survey of 2,500 global innovation executives on global “mindshare,” industry peer review, industry disruption and three-year total shareholder return. Philips is recognized for its significant investment in research and development on everything from artificial intelligence to machine learning to virtual reality to improve health care. “Innovation has been a Philips cornerstone since our inception nearly 130 years ago and has never been more important than in today’s health care environment,” said Joseph Frassica, head of Philips Research Americas and chief medical officer for Philips North America. In addition to being included on BCG’s “The Most Innovative Companies of 2020” ranking, Philips was included in Forbes’ list of America’s Best Employers for Diversity in 2020.