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Print Edition StoriesTuesday, March 31, 2009
Defense Dept. deals Philips Healthcare $77M systems contract
By Brendan Lynch
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Philips Healthcare has landed $77.2 million from the Defense Logistics Agency, according to the U.S. Department of Defense.
Under the contract, the Andover-based unit of Royal Philips Electronics NV (NYSE:PHG), will provide patient monitoring systems, subsystems, accessories, consumables, spare/repair parts and training for the U.S. Army, U.S. Navy, U.S. Air Force and U.S. Marine Corps, as well as federal civilian agencies.
Work on the contract is expected to be completed by March 2010.
In November, Philips Healthcare laid off 100 employees at its Andover headquarters. The local layoffs were part of a global restructuring that shaved 1,600 jobs at the company. The company said the layoffs were intended to eliminate layers of management to facilitate more nimble decision making within the organization and weren’t necessarily linked to the global recession.
Royal Philips moved its North American headquarters from New York City to Andover in July 2008. The company reported a 2008 loss of $186 million on revenue of $26.4 billion.
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