Philips Expands Partnership with Ibex for Enhanced AI Pathology Solutions
Deal News | Mar 24, 2025 | 83north (formerly greylock il)
Royal Philips, a leader in health technology, has announced the expansion of its partnership with Ibex Medical Analytics to enhance AI-enabled digital pathology workflows, especially for cancer diagnosis. The collaboration will extend the adoption of AI tools to address the pressures caused by a global shortage of pathologists and an increasing number of cancer patients. Together, Philips and Ibex offer improved diagnostic accuracy and efficiency in pathology laboratories through the Philips IntelliSite Pathology Solution (PIPS) and Ibex's AI-powered diagnostic tools. The partnership aims to streamline AI-based pathology solutions and enhance patient care by providing seamless clinical workflow solutions that empower clinicians to deliver faster and more accurate diagnoses. Additionally, PIPS 6.0 introduces new features focusing on AI capabilities, case management, and cloud archival services in partnership with Amazon Web Services. These developments will be presented at the upcoming US & Canadian Academy of Pathology Annual Conference.
Sectors
- Health Technology
- Artificial Intelligence
- Digital Pathology
Geography
- The Netherlands – The headquarters of Royal Philips is located in the Netherlands, serving as a base for its operations and innovations in health technology.
- United States – The new advancements and offerings will be showcased at the US & Canadian Academy of Pathology Annual Conference in Boston, highlighting the American relevance for Philips and Ibex solutions.
Industry
- Health Technology – The article highlights advancements and partnerships in health technology through AI-enhanced digital pathology solutions by Philips, focusing on improving diagnostic precision and efficiency in healthcare.
- Artificial Intelligence – Ibex Medical Analytics' use of AI-powered tools to assist in pathology workflows underscores the role of artificial intelligence in advancing healthcare solutions.
- Digital Pathology – The article discusses Philips IntelliSite Pathology Solution, which integrates digital pathology technologies aimed at improving diagnostic workflows, particularly in cancer diagnosis.
Financials
- EUR 18 billion – Philips' sales revenue generated in 2024, indicating the financial scale of the company.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Royal Philips | Main Participant and Target | Company | A leading health technology company focused on medical innovations, headquartered in the Netherlands. |
| Ibex Medical Analytics | Partner Company | Company | A company specialized in AI-powered pathology tools, partnering with Philips to improve diagnostic processes. |
| 83North | Investment Firm | Company | A private equity firm with investments in innovative technology companies, formerly known as Greylock IL. |
| Medipath | Healthcare Organization | Company | A healthcare organization working closely with Philips and Ibex in integrating AI-enabled pathology tools. |
| Amazon Web Services | Cloud Service Provider | Company | Partnering with Philips to provide cloud archival services for digital pathology data. |