Philips and the Governments of Ethiopia and the Netherlands Sign Seven-Year Agreement to Build Ethiopia's First Specialized Cardiac Care Center
Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, and the governments of Ethiopia and the Netherlands, today signed a seven-year agreement to build Ethiopia's first specialized Cardiac Care Center to address the critical shortage of cardiology services in Ethiopia. Under the terms of the agreement, valued at approximately 40 million euro, Philips will be responsible for the full turnkey design, construction, equipping and commissioning of the hospital location, as well as staff education and equipment maintenance for five years after completion. 
Siemens Healthineers AG has posted good business figures in the first quarter following its successful initial public offering on March 16, 2018. Year-over-year revenue was up four percent at EUR 3.2 billion on a comparable basis. Despite continuing negative currency effects, the profit margin adjusted for non-recurring effects increased by 90 basis points to 17.4 percent, while adjusted profit was stable at EUR 560 million compared to the second quarter of 2017.