Amsterdam-based Philips is expanding its focus to Tennessee.
The tech giant is building a health technology center in Nashville.
The project will bring 800 new jobs to the area over the next two years. Hiring for the positions will start within the next few months, according to The Tennessean.
“More international companies like Philips are deciding to invest and create jobs in Tennessee because of the policies we’ve put into place with the help of the General Assembly,” Tennessee Governor Bill Haslam said. “Philips’ investment in Middle Tennessee continues our state’s strong growth trajectory and moves us closer to making Tennessee the No. 1 location in the Southeast for high-quality jobs.”
The center will consolidate various departments, including commercial operations, finance, human resources, IT, marketing, procurement, regulatory and customer service.
In a statement, Craig Gruchacz, Philips’ global business services leader for North America, commented on the move: “The consolidation of our business services will help us to deliver on our continuous improvement goals, with a particular focus on our customer experience, while leveraging the benefits of the growing health technology ecosystem in Tennessee to accelerate patient care.”
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Gruchacz added that the company has not yet determined a precise location for the health technology center, according to The Tennessean.
As of late, the Dutch company has also been up to quite a bit in the healthcare arena.
Emory Healthcare in Atlanta, Georgia used its technology to create an eICU program. The health system saw numerous benefits from the program, including a reduction in the relative rate of 60-day inpatient readmissions and improved communication among care teams.
In June, Philips bolstered its therapy business with a $1.7 billion deal to acquire Colorado Springs-based Spectranetics, a cardiovascular company that makes laser atherectomy catheters.
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