May 21, 2024

  * Progress towards Philips Foundation's 2030 target of 100 million lives
    improved in underserved communities each year
  * 17 new initiatives with strategic partners and 4 new investments in health
    tech enterprises that leverage Philips' expertise in early screening and
    diagnosis
  * Strategy focused on building local ecosystems that provide reliable,
    sustainable solutions to healthcare delivery issues in underserved
    communities

Amsterdam, the Netherlands - Philips Foundation (https://www.philips-
foundation.com/), with its mission to provide access to quality healthcare for
100 million people a year in underserved communities by 2030, today announced
the publication of its 2023 Annual Report (https://www.philips.com/c-
dam/philips-
foundation/Files/annualreports/Philips_Foundation_Annual_Report_2023.pdf).
Philips Foundation and its partners provided access to quality healthcare for
over 28 million people in 2023 - an increase demonstrating the foundation's
progress towards its 2030 target.
The consolidated report of Philips Foundation and its social impact investment
vehicle, Philips Foundation Impact Investments B.V., showcases 22 ongoing and
new initiatives executed in 2023 in partnership with NGOs, government entities,
universities, and social enterprises. The new projects leveraging Philips'
expertise in healthcare technology and the new investments in innovative, high-
impact health tech enterprises, show Philips Foundation's commitment to
improving access to healthcare for underserved communities.
"As newly appointed Chair of the Board of Philips Foundation, I am honored to
support the vital work of driving sustainable development in healthcare, and
look forward to the team building on the significant contributions Philips
Foundation and its partners have made over the years. We can all be truly proud
of the improvements in people's situations that we were able to accomplish in
2023," said Marnix van Ginneken, Chair of the Board of Philips Foundation.
Philips Foundation continues to prioritize equitable access to mother and child
health, non-communicable disease detection, and prevention, acute and emergency
care services, and being the Philips platform for disaster response initiatives.
Building an ecosystem of innovative healthcare solutions
Central to Philips Foundation's strategy is fostering collaboration to improve
healthcare access in underserved areas, with an emphasis on early screening and
diagnosis to reduce mortality and morbidity. In addition to collaboration with
NGOs, universities, and government entities, Philips Foundation believes that,
through a supportive ecosystem, community-based social enterprises can leverage
digital innovations to lower costs while delivering quality care.
To that purpose, Philips Foundation's social impact investment vehicle, Philips
Foundation Impact Investments B.V. (https://www.philips-foundation.com/a-
w/social-impact-investment.html), supported 13 social enterprises in 2023,
creating an ecosystem to accelerate their growth and impact. In 2023, four
investments were made in social enterprises, including three new investments and
one follow-on investment. Additionally, Philips Foundation's investments and
network facilitated five co-investments.
"Social entrepreneurship goes beyond financial returns. It involves adding value
for people and protection for the planet. Considering the challenging socio-
economic conditions typical of underserved populations, we focus on the
viability of our initiatives and their envisioned impact, helping create lasting
access to medical services that people can rely on," said Margot Cooijmans,
Director of Philips Foundation. "Looking forward, building an interconnected
ecosystem of diverse organizations is essential to drive the innovation and
collaboration needed to reach our goal of providing access to quality healthcare
to 100 million people in underserved communities a year by 2030."
To read the full Annual Report, click here (https://www.philips.com/c-
dam/philips-
foundation/Files/annualreports/Philips_Foundation_Annual_Report_2023.pdf).
For further information, please contact:
Yannick Eshuijs
Philips Foundation
Tel.: +31 6 1852 6633
E-mail: yannick.eshuijs@philips.com (mailto:yannick.eshuijs@philips.com)
About Philips Foundation
Philips Foundation is a registered non-profit organization established in 2014 -
with a mission to provide access to quality healthcare for underserved
communities across the globe. By leveraging Philips' capabilities and combining
them with the experience and expertise of non-governmental organizations and
other community-focused and impact-driven enterprises, Philips Foundation helps
create innovative pathways to open up affordable healthcare for communities most
in need. By also partnering with innovative social entrepreneurs rooted in the
local ecosystem, Philips Foundation aims to increase access to healthcare for
100 million people a year by 2030. More information can be found at www.philips-
foundation.com (http://www.philips-foundation.com/)
Â