Royal Philips : Philips CEO Frans van Houten co-signs open letter on need for investment in human capital

'Good health care and education are among the main drivers of economic growth and are key to fighting extreme poverty and creating more inclusive societies,' said Frans van Houten, CEO of Royal Philips. 'I am convinced that this can be achieved with current technologies, but it will require an integrated approach, new ways of working and new business models. Health care should not be considered a cost that needs to be minimized, but an investment in society that needs to be optimized.'

Poorer, disadvantaged and underserved communities face tremendous challenges, often with one-in-four children malnourished, and 60 percent of primary school students failing to achieve a rudimentary education.

Through the development of holistic solutions such as its Community Life Center platform in Africa, which provides health facilities, education and training of health care workers, and furthers social and economic hubs for the area, Philips is already exploring new business models focused on optimizing the human capital of underserved populations.

As a further example, approximately 830 women die from pregnancy or childbirth-related complications around the world every day, with 99% of deaths occurring in countries with a developing health care system and rural areas. Philips smart phone-enabled Mobile Obstetrics Monitoring solution aims to reduce maternal mortality by enabling healthcare systems to give expectant mothers access to high-quality healthcare wherever they are.

Watch a video of Frans van Houten's view on Human Capital.