The Medical University of South Carolina in Charleston has entered into an eight-year, $36 million contract with medical equipment manufacturer Royal Philips to provide patient-monitoring services and software.
Royal Philips will install and manage monitoring equipment for inpatient services such as emergency, pediatric and surgical care at MUSC Health's 750-bed academic medical center. The Netherlands-based company will also provide maintenance, training and consulting services, according to a news release.
This is the medical equipment manufacturer's fifth such contract in the U.S., but the first focused solely on patient-monitoring services. Other contracts with hospitals and systems have included providing imaging systems, telehealth technology and clinical informatics.
MUSC Health has four hospital facilities and employs nearly 13,000 people. The system's operating revenue in 2015 grew year over year by 5.5% to $466.7 million.
In 2013, Royal Philips began to partner with health systems as providers look to invest in health information technology. Most recently, Royal Philips entered into a 15-year, $90 million agreement with Marin General Hospital, a community hospital in Greenbrae, Calif.