Philips Healthcare history

Frederik, a banker based in Zaltbommel, financed the purchase and setup of a modest, empty factory building in Eindhoven, where the company started the production of carbon-filament lamps and other electro-technical products in 1892.

In 1895, after a difficult first few years and near bankruptcy, the Philipses brought in Anton, Gerard’s younger brother by sixteen years.

It also began a long process of vertical integration in order to become more self-sufficient, establishing its own argon-production facility and its own glass works by the 1920s.

The international program on Sundays commenced in 1928, with host Eddie Startz hosting the Happy Station show, which became the world’s longest-running shortwave program.

An important administrative reorganization occurred just before World War II. Anton Philips retired in 1939 as president, although he remained active in a supervisory role.

On May 9, 1940, the Philips directors learned that the German invasion of the Netherlands was to take place the following day.

Indeed, Philips received an early slap on the wrist in 1941, when the United States Department of Justice filed a light-bulb cartel suit against GE, other electrical producers, and Philips, containing charges of price-fixing and monopolies on patents.

Philips Radio was absorbed shortly after liberation when its two shortwave stations were nationalised in 1947 and renamed Radio Netherlands Worldwide, the Dutch International Service.

In 1949, the company began selling television sets.

In 1950, it formed Philips Records.

Signetics was formed in September 1961 by a group of scientists and engineers working at Fairchild Semiconductor.

In November of 1962, Corning Glass Works purchased a majority interest in Signetics.

Philips introduced the audio Compact Audio Cassette tape in 1963, and it was wildly successful.

A whole new level of growth was reached in 1969, when Conelco merged with North American Philips Co.

In 1972 Philips launched the world’s first home video cassette recorder, in England, the N1500.

In June 1975 the company was purchased by United States Philips Corporation, a wholly owned subsidiary of N.V. Philips of the Netherlands.

In 1980, for example, Forbes attributed United States investors' coolness toward NAP to the possibility that the Philips Trust, not United States investors, stood to gain most from the company's growth.

In 1981 the company acquired General Telephone & Electronics Corp.'s television set business, helping boost its market share of the color TV market to 13.1 percent that year.

In 1985 it sold its inter-city bus transportation business (Carolina Coach Co. and Seashore Transportation Co.) as well as its hospital attendant TV business, N.A.P. Commercial Electronics Corp.

In 1987, however, this unusual arrangement was simplified, as PENAC was once again acquired by N.V. Philips as a wholly owned subsidiary.

By 1988, Philips had developed the first demonstration of high definition TV (HDTV) hardware for United States satellite transmission.

On January 1, 1989, Einar Kloster, a former executive vice-president of the North American Philips Corporation, returned as president of the company, replacing Cees Bruynes.

After reporting heavy losses in 1990, Philips' Board of Directors drafted Jan Trimmer as president to return Philips to profitability.

In 1991, the company’s name was changed from N.V. Philips Gloeilampenfabrieken to Philips Electronics N.V. At the same time, North American Philips was formally dissolved, and a new corporate division was formed in the United States with the name Philips Electronics North America Corp.

A similar incident had occurred in 1992 when the company admitted to selling resistors and capacitors to the military, which were not up to government code.

As early as 1993, the company joined CellularVision and Bell Atlantic in a partnership toward multi-channel, interactive, multimedia services.

"philips electronics north america corporation acquires interest in cellularvision technologies and telecommunications." cellularvision, 1 june 1994.

And in 1995, a joint venture with Cree Research, Inc., made great advances in blue laser diode technology, useful in high density commercial memory systems and for military applications such as lightweight countermeasure systems and covert communications.

"oracle and philips link homes in garden city, new york with country's first consumer e-mail system." oracle corporation, 20 june 1996. available at http://www.oracle.com.

wallace, charles p. "can he fix philips?" fortune, 31 march 1997.

"philips electronics expands 'green' commitment with 'ecovision.'" phillips news, 29 may 1998. available at http://www.news.philips.com.

In 2000, Philips bought Optiva Corporation, the maker of Sonicare electric toothbrushes.

In 2001 the company transferred all Silicon Valley– based activities to its campus in San Jose.NXP Semiconductors now employs more than 1,700 people in North America in four main locations: San Jose, California; Tempe, Arizona; Austin, Texas; and Fishkill, New York.

In December 2005 Philips announced its intention to sell or demerge its semiconductor division.

On 21 August 2006, Bain Capital and Apax Partners announced that they had signed definitive commitments to join the acquiring consortium, a process which was completed on 1 October 2006.

On 21 February 2008 Philips completed the acquisition of VISICU Baltimore, Maryland through the merger of its indirect wholly owned subsidiary into VISICU. As a result of that merger, VISICU has become an indirect wholly owned subsidiary of Philips.

In January 2011 Philips agreed to acquire the assets of Preethi, a leading India-based kitchen appliances company.

In March 2012 Philips announced its intention to sell, or demerge its television manufacturing operations to TPV Technology.

In April 2013, Philips announced a collaboration with Paradox Engineering for the realization and implementation of a “pilot project” on network-connected street-lighting management solutions.

On April 28, 2014 Philips agreed to sell their Woox Innovations subsidiary (consumer electronics) to Gibson Brands for $US135 million.”

Philips ranks #1 in ‘Health Care Equipment & Services’ sector on Forbes ‘World’s Best Employers 2020’ list