Philips Teams Up With 3D Systems, Stratasys For 3D Printing
Zacks Investment Research | Nov 27, 2017 09:07PM ET
After launching IntelliSpace Portal 10, Koninklijke Philips N.V. (NYSE:PHG) strengthened its advanced 3D modeling capabilities further by signing agreements with 3D Systems Corporation (NYSE:DDD) and Stratasys Ltd. (NASDAQ:SSYS) — the two global leaders in the 3D printing industry.
A couple of days back, Philips unveiled its IntelliSpace Portal 10 — the first advanced visualization platform — with an embedded 3D-modeling application, which will create and export 3D models intuitively into the clinical workflow.
The company’s clients can enjoy a virtually seamless connection to 3D Systems and Stratasys solutions via IntelliSpace Portal 10. The solutions will help speed up 3D printing processes to create models, which will aid radiologists in understanding patient anatomy that is hard to visualize. Users will be able to create and save the model in IntelliSpace Portal 10, and easily transfer the data to the 3D vendors’ solutions, without needing to leave the clinical environment.
By advancing the 3D-printing capabilities, Philips will help empower providers to improve care for intricate cases and raise diagnostic confidence.
3D Systems’ solutions and 3D-modeling tools will help improve the clinical performance and optimize procedural outcomes through education and collaboration. On the other hand, Stratasys’ unique PolyJet-based full-color, multi-material 3D printing solutions will help provide customers with 3D printed anatomical structures on demand.
The significance of 3D imaging and printing in healthcare continues to gain credence as users see the relevance of its integrated workflows in surgery planning, training and education. Philips’ agreements with 3D Systems and Stratasys will help accelerate medical progress in superior planning and patient outcomes.
Philips has expanded its presence in the healthcare markets in recent quarters and projects this segment to be a long-term growth driver. However, the company’s near-term performance is likely to be hurt by sluggish growth prospects of the healthcare market globally. For instance, slowing government spending and events surrounding the ACA (Affordable Care Act) legislation have harmed prospects of the healthcare industry in the United States.
The stock has returned 10.4% in the last six months, underperforming the Zacks Investment Research
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