Boomers fuel growth of technology-based home healthcare solutions

January 21, 2006 The baby boomers are heading for senior citizenship and the most populous generation in history is about to give life to yet new markets. The news this week that giant Dutch technology company Philips has purchased 'personal emergency response' company Lifeline is an indication of the growing importance of technology-based home healthcare solutions as the boomers seek to prolong their independence. Lifeline has over 30 years' experience of monitoring seniors living independently at home and has a broad presence in the North American market with a turnover of US$150 million growing at 15%. In addition to the strong growth offered by the underlying market, the new business will draw on Philips' strengths in technology and innovation to create new products and services in an area it has been studying and developing for many years. These new offerings will have a clear consumer focus that differentiates them from 'traditional' healthcare services paid for by insurers. Longer term, Lifeline will serve as a platform for a broader array of home healthcare solutions, such as Motiva, Philips pioneering interactive healthcare system.

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