Philips Gets FDA Clearance To Market New EL18-4 Transducer
Zacks Investment Research | Oct 15, 2017 09:28PM ET
Koninklijke Philips N.V. (NYSE:PHG) recently announced that it has obtained the 510(k) clearance from the U.S. Food and Drug Administration (FDA) for marketing its new eL18-4 transducer for ‘small parts’ assessment. The company is expected to launch the newest solution at the 16th World Federation for Ultrasound in Medicine and Biology (“WFUMB”) Congress in Taipei.
The new eL18-4 transducer, an ultrasound exam, helps in detection of abnormalities in the small organs that are close to the skin. Further, it is utilized to assess musculoskeletal injuries as well. The new solution enables clinicians to assess and treat small parts as well as facilitates improvement in care for patients with all-in-one functionality.
Philips has successfully evolved from a lighting company into a healthcare technology provider, over the past couple of years. Moreover, the company's transformation from a hardware-oriented to a software-driven business, with a higher-margin and recurring-revenue model, bodes well for investors. The company also believes that increased spending on healthcare and fitness will drive future growth. In the past three months, the company’s stock has yielded a return of 12.1%, outperforming the Zacks Investment Research
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