For the period (end-September 30), the vendor recorded sales of 1.75 billion euros ($2.01 billion U.S.) in its diagnosis and treatment businesses, up 6% on a comparable basis from the 1.64 billion euros ($1.9 billion) reported in the third quarter of 2017. The businesses had adjusted earnings before interest, taxes, and amortization (EBITA) of 212 million euros ($243.1 million), up from 191 million euros ($219.1 million) in the same period a year ago.
Quarterly highlights included double-digit growth in ultrasound, high single-digit growth in image-guided therapy, and mid single-digit growth in diagnostic imaging, according to the vendor.
The firm's connected care and healthcare informatics businesses produced 741 million euros ($849.8 million), down 2% on a comparable basis from the 751 million euros ($861.3 million) reported in what Philips said was a very strong third quarter of 2017. In addition, adjusted EBITA dropped from 96 million euros ($110.1 million) last year to 81 million euros ($92.9 million).
Mid single-digit growth in therapeutic care was partly offset by low single-digit declines in healthcare informatics, as well as monitoring and analytics, Philips said.
In other Philips news, the vendor announced it has initiated a share repurchase program that will involve buying up to 5 million shares to cover its obligations arising from its long-term incentive and employee stock purchase plans. At the current share price, this program represents an amount of up to 174 million euros ($199.6 million). The program started on October 22 and is expected to be completed before November 10, the company said.
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