MARCH Member Spotlight: Philips

What is your business industry category or specialty? 

Philips is a leading health technology company focused on improving people’s health and well-being, 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. 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.

How do you describe your job to people outside the industry?

Many industries have gone through transformations, especially in the IT/Informatics space. Leading a transformation to a full-solution approach for our customers is fascinating and requires rethinking the way we approach customers and how we support them. It is about helping them achieve the results and outcomes they want to attain, which is incredibly rewarding because it is all about patient care and improving lives. 

Who are your main competitors and what differentiates you from the competition? What makes you unique? 

Philips has numerous attributes that differentiate us from our competitors. Unlike other multi-national conglomerates, Philips has transformed into a focused leader in HealthTech.  We have also shifted our focus from transactional relationships to long-term strategic partnerships.  This shift assists us with delivering integrated solutions and addressing healthcare provider challenges, as well as improving patient outcomes and overall productivity. This has given Philips an advantage among traditional healthcare players, allowing us to understand workflows, create best practices, and co-create the technologies that the healthcare industry needs. These deep clinical insights also give Philips a unique advantage among the technology players, as we work shoulder to shoulder with healthcare providers, allowing us to truly understand their needs. In addition to putting our partners and customers at the heart of everything we do, Philips makes significant investments in research and innovation, with four main global innovation hubs. For example, our U.S. hub is based in Cambridge, MA, allowing us to collaborate with the impressive local innovation ecosystem, including leading academic partner MIT, and the excellent health systems found there.  We have also created innovation sites in Rochester, MN, with Mayo Clinic and in New York with Westchester Medical Center Health.

How was the business started? 

Philips’s roots extend to 1891, when Philips & Co was founded in Eindhoven, the Netherlands, by Frederik Philips and his son, Gerard. Recognizing the opportunity presented by the mass-market introduction of electricity, and inspired by Gerard’s keen interest in science and engineering, the pair soon conceived a bold but timely plan: cost-effective, reliable, electric incandescent light bulbs. In the early 1900s, the company began investigating emerging lighting technologies to discover new sources of light, while its breakthroughs in X-ray tubes ultimately marked the origin of Philips’ involvement in health technology.

How many employees does the business have? 

Approximately 82,000 employees with sales and services in more than 100 countries.

How did you end up in Atlanta? 

In 2019, I was asked to lead an important transformation in the Services business of Philips North America, which is headquartered in Alpharetta, GA. This initiative places our Services and Solutions Delivery organization at the heart of Philips’ transformation into a solutions company. Prior to my current role, I was the CEO and Market Leader of a Philips market cluster, encompassing Italy, Israel, and Greece.

What is your number one business goal over the next year?

Our primary business goal is to pivot to delivering solutions for our customers while also growing our traditional businesses. We call this shift “Perform and Transform”.

What is the best advice you have received regarding doing business with Americans/Dutch? 

As a global, multinational company, we see diversity as a strength and embrace the differences in both the markets we serve and the employees who support our business. Ensuring that our employees reflect the diversity of our markets positions us for greater success. It is exciting to lead an organization that represents a Netherlands-based company to an American market.

Any other personal information you would like to share, e.g. hobbies, special interests, family etc…

I typically spend my leisure time with my family and friends. I am happily married and have two teenage daughters, one of whom is attending college virtually. As you might imagine, there is copious amounts of energy spent in both my family role and my role with Philips.

CONTACT DETAILS:  Stefano Folli | Senior Vice President, Head of Services & Solutions Delivery Philips North America13560 Morris Road, Suite 2100, Alpharetta, GA 30004| USA Email: stefano.folli@philips.com   LinkedIn: Stefano’s LinkedIn profile  Website: https://www.usa.philips.com