Philips India is keen to tap the opportunities arising out of the mega healthcare scheme announced in the Budget, especially in the public private partnership (PPP) space.
The company has presence in the fields of diagnostic imaging, image-guided therapy, patient monitoring and health informatics.
Philips India, a subsidiary of Royal Philips of the Netherlands, is also present in segments like consumer electronics and personal care and aims to continue its double digit growth in 2018.
“The government sent a very clear signal with this budget that healthcare is a priority and we will continue work with them and we will continue push PPPs. We will be leaders of PPPs in the country,” the company’s Vice Chairman and Managing Director for the Indian Subcontinent, Daniel Mazon said.
The National Health Protection Scheme, which would be the world’s largest government healthcare programme, was announced in 2018-19 Budget for providing medical cover of up to Rs 5 lakh to over 10 crore poor and vulnerable families, constituting 40 per cent of India’s total population.
Presently, Philips India is operating 36 PPPs in different tier II and III cities.
“It’s about making choices, focus on particular areas. One of them is PPPs and you will continue seeing Philips dominating that space. We love PPPs. PPP is a great way to create access, to lower cost, to bring healthcare to tier II and III cities in the country,” he added.
“Philips has been in India for 88 years and the company is in the journey of a transformational double digit growth” said Mazon.
“There are so many opportunities in this country and Philips has amazing talent, a lot of patents and invests heavily in R&D and manufacturing and we tap into everything we do. That’s how we impact the lives of so many people,” he added.
The company is also encouraging local manufacturing under the Make-in-India initiative.
Its Pune-based centre is becoming a manufacturing hub for Philips globally.