Philips Healthcare has signed a wide-ranging, five-year, $25 million research alliance with the Massachusetts Institute of Technology (MIT) to develop healthcare and digital connected lighting technology.
In Philips' health tech activities, joint teams will seek to improve the management of cardiovascular disease and the diagnosis and treatment of various cancer types. The focus will be on improving patient outcomes while reducing costs, according to Philips.
The alliance will provide Philips with access to MIT's experts and clinical partners, helping the company explore population health management applications via patient-centric, high-resolution imaging; healthcare informatics; and data analytics, the vendor said.
In a related development, Philips said it will move its North American research center from Westchester, NY, to Cambridge, MA, in close proximity to the MIT campus. The move will enable Philips to collaborate with other institutes and partner companies, as well as allow its researchers to work with MIT faculty and doctoral students on jointly defined research programs and participate in open innovation projects, according to the company.
