Royal Philips announces new compact patient monitor

Hyderabad, Jul 16, 2008 (Asia Pulse Data Source via COMTEX) -- PHG | Quote | Chart | News | PowerRating -- Global healthcare leader Royal Philips Electronics today announced a series of new portable, compact patient monitors for observation and care of patients.

The new Philips SureSigns VM3 is the first Philips patient monitor designed for emerging markets.

Talking to reporters here, Philips Medical systems India Senior Director and Business Head, Bangladesh, Sri Lanka and Nepal, Anjan Bose, said with a growing per capita income and adoption of new lifestyles, healthcare services in India are rapidly changing.

In order to meet the increasing demand for quality care, people in recent times have seen the construction of new, state-of-the-art hospitals, associated satellite facilities, as well as smaller nursing homes and clinics.

This has fuelled the demand for healthcare equipment across segments and the growth of the Indian patient monitoring equipment market is estimated to reach USD 42 million in 2010.

Philips plans to garner a market share of 40 percent by 2010 through its diverse range of patient monitoring equipment.

"We have targeted market of Rs 350 crore, which will be 25 to 30 per cent more as compared to previous year," Bose said.

"The SureSigns VM3 leverages the high-quality platform of Philips' industry leading patient monitoring portfolio", he added.

"Combining advanced software and technology in a compact economic package, the VM3 is the perfect solution for caregivers across the wide variety of clinical environments we see here in India," he informed.

Morning Coffee with TradingMarkets -- Free Newsletter

More News:   Market Updates | Stock Alerts | All Trading News | Stock Index