Philips is a diversified technology company focused on improving people's lives through meaningful innovation in the areas of healthcare, consumer lifestyle, and lighting. In 2014, the company split into two independent divisions: Healthcare and Lighting.

In Israel, the Philips Medical R&D Center works on image processing and analysis, developing applications for contemporary markets, such as virtual colonoscopy and virtual catheterization applications. The center specializes in 3D CT scanners.
Philips's representation inPetah Tikva provides sales and servicesforall ofthePhilips divisions.

Following Philips's 2014 acquisition of Volcano, a catheter measurement and imaging company, another Israeli R&D center joined Philips Israel. Formerly Sync-Rx Ltd, the center optimizes and facilitates trans-catheter cardiovascular interventions using automated online image processing.

In 2016, Philips launched in Israel a cloud-based project that deals with mapping genomics for cancer treatment. In 2018 Philips expanded its cariology portfolio with the acquisition of of EPD Solutions. In 2019, Philipps completed the global aqcusution of Carestream Health Inc.'s Healthcare Information Systems business, including Algotec and its Israeli R&D center.