Philips wins $450m DoD patient monitor supply contract

Royal Philips (NYSE:PHG) has won a $450 million contract to supply the U.S. Department of Defense with patient monitoring systems, accessories and training, according to a recently released DoD posting.

The deal comes through a five-year base contract with a single five-year option period. A total of 36 different companies competed for the contract that Amsterdam-based Philips won, according to the DoD release.

Patient monitoring systems, accessories and training will be supplied to the Army, Navy, Air Force, Marine Corps and other federal civilian agencies, with the location of performance noted as Massachusetts. The contract has a performance completion date of March 28, 2024, according to the release.

The contracting was performed through the Defense Logistics Agency Troop Support, the DoD said.

Last week, Philips said that it acquired teleradiology platform developer Direct Radiology for an undisclosed amount.

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