Royal Philips and Georgia Regents Medical Center (GRMC), Georgia’s public academic health center, have announced a 15-year alliance to enable patient-centered approaches to care and to create a business model that addresses current and future clinical, operational and equipment needs of GRMC sites.

Philips will provide GRMC with a range of consulting services, advanced medical technologies, operational performance and planning and maintenance services with pre-determined monthly operational costs.

The $300 million agreement will support the Georgia Regents Medical Center, Children’s Hospital of Georgia, Georgia Regents University Cancer Center and outpatient clinics. The companies will work to deliver faster, more effective and cost-efficient care from diagnostics to therapeutics and inpatient and outpatient clinical services. The alliance will impact all care areas, including radiology, cardiology, neurology, oncology and pediatrics and enhance medical research and clinical technology R&D initiatives for care delivery innovation.

The agreement encompasses Philips imaging systems, patient monitoring and clinical informatics solutions, as well as lighting and consumer products. Philips will also furnish GRMC access to new equipment as well as educational resources.