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Virtual Executive Panel – Transitioning to a Green Economy: Financial Stability Implications

TORONTO, March 31, 2021 (GLOBE NEWSWIRE) — Toronto Centre is hosting a virtual executive panel at the Spring Meetings of the International Monetary Fund and the World Bank Group featuring Mark Carney, UN Special Envoy on Climate Action and Finance and Finance Advisor to UK Prime Minister for COP26 and Her Excellency Sri Mulyani Indrawati, Minister of Finance, Indonesia. Babak Abbaszadeh, President and CEO of Toronto Centre, will moderate the event. The discussion will focus on the implications for financial stability of transitioning to a green economy.

Date:
Wednesday, April 7, 2021 at 9:00-10:00 a.m. EST

Time:
Remarks to begin at 9:00 a.m. Media are asked to arrive promptly.

Location:
Virtual, via Zoom
https://us02web.zoom.us/webinar/register/WN_ZXIpffXKSMyASqS5tLyEoQ

Diana Bird
dbird@torontocentre.org
Communications and Special Projects Coordinator
M: (647) 993-3809

AGF Management Limited Reports First Quarter 2021 Financial Results

TORONTO, March 31, 2021 (GLOBE NEWSWIRE) —

  • Mutual fund gross sales of $1 billion for the first quarter of 2021, an improvement of 85% year over year
  • Mutual fund net sales of $385 million for the quarter
  • Assets under management of $39.8 billion, 6% higher than prior year

AGF Management Limited (AGF or the Company) (TSX: AGF.B) today announced financial results for the first quarter ended February 28, 2021.

AGF reported total assets under management (AUM) of $39.8 billion compared to $37.4 billion as at February 29, 2020.

“This quarter marked one-year of managing our business through a pandemic. We acted swiftly to protect the health and safety of our employees, made effective use of technology and accelerated our digital transformation to put our clients first and position ourselves for success,” said Kevin McCreadie, Chief Executive Officer and Chief Investment Officer, AGF.

“A year later, we are seeing the results of our efforts with higher retails sales numbers, strong investment performance and an improving share price,” added McCreadie.

AGF’s mutual funds net sales improved $729 million year over year, with total net sales of $385 million in Q1 2021, compared to net redemptions of $344 million in Q1 2020. Excluding net flows from institutional clients invested in mutual funds, retail mutual fund net sales were $376 million for the quarter compared to net redemptions of $141 million in the comparative period of 2020. AGF mutual fund gross sales totaled $1,042 million, an 85% improvement over prior year. Gross sales for long-term mutual funds improved 84% year-over-year, outpacing the industry year-over-year improvement of 36%.

Mutual fund sales momentum continued into March with AGF reporting mutual fund net sales of $211 million as at March 29, 2021 compared to net redemptions of $73 million for the same time last year. Retail mutual fund gross sales were up 120% year-over-year.

“This quarter was our strongest retail sales quarter in over a decade,” said Judy Goldring, President and Head of Global Distribution, AGF. “I believe this is a testament to the quality and diversity of our relationships across channels, our consistent investment performance and a product line-up that is relevant, competitive and responsive to market trends with offerings through mutual funds, ETFs and separately managed accounts.”

Key Business Highlights:

  • March 2021 marked the one-year anniversary of AGF operating as a mostly virtual firm as a result of the COVID-19 pandemic. Over the last 12 months, AGF continually evolved and embraced new ways of doing business while staying true to its legacy of delivering strong relative investment performance.
  • Effective March 1, AGF reduced management fees for AGF Global Real Assets Class (Series F) and AGF Global Real Assets Fund (Series F and W).
  • Subject to securityholder approval (at a meeting to be held on April 14, 2021), AGF is proposing changes to the investment objectives of AGF Diversified Income Class and AGF Diversified Income Fund to become sustainable balanced strategies.
  • AGF remains committed to building its private alternatives business and as part of its extended partnership with SAF Group is operationally ready and beginning fundraising for the launch of a direct lending private credit strategy in Canada. AGF expects to seed the private credit offering and complete the first close in Q3 2021.

For further information on AGF’s pandemic response plan statement visit AGF.com.

 

Financial Highlights:

“We delivered strong mutual fund sales in the quarter, which will lead to future top line revenue growth, while having an initial short-term impact on profitability,” added McCreadie.

  • The significant increase in mutual fund sales drove higher selling, general and administrative costs in the period associated with variable sales and investment performance-based compensation. Selling, general and administrative costs were $48.0 million for the three months ended February 28, 2021, compared to $45.3 million in 2020. In addition, the increase in the AGF.B share price during the quarter resulted in higher share-based compensation, which is marked to market. This increase in variable costs was partially offset by management’s continued focus on cost control as well as lower travel and entertainment costs as a result of the ongoing pandemic.
  • EBITDA before commissions for the three months ended February 28, 2021 was $26.8 million, compared to $30.2 million in the prior year comparative period. Excluding Smith & Williamson (S&WHL), EBITDA before commissions for the three months ended February 28, 2021 was $26.8 million, compared to $25.7 million in the prior year comparative period.
  • Management, advisory, administration fees and deferred sales charges were $102.9 million for the three months ended February 28, 2021, compared to $99.4 million in 2020. The increase in revenue is attributable to higher sales, increase in daily average mutual fund AUM and higher average revenue rate as a result of product mix.
  • AGF’s interest in private alternative managers generated EBITDA of $0.8 million for the three months ended February 28, 2021 (2020 − $0.1 million), an increase of $0.7 million, as a result of the Company’s equity earnings in its private alternative managers.
  • Adjusted net income for the three months ended February 28, 2021 was $5.6 million ($0.08 adjusted diluted EPS), compared to $10.8 million ($0.13 adjusted diluted EPS) in the prior year comparative period. Excluding S&WHL, net income for the prior year comparative period was $6.3 million ($0.07 adjusted diluted EPS). The significant growth in mutual fund sales as well as the increase in the Company’s stock price in the current quarter resulted in a short-term increase in variable sales compensation, DSC commissions and stock compensation, which were fully recognized in the period, resulting in a $0.06 negative impact to EPS.
Three months ended
  February 28,     November 30,     February 29,  
(in millions of Canadian dollars, except per share data)   2021     20201     20201  
Income
Management, advisory, administration fees
and deferred sales charges $ 102.9 $ 97.5 $ 99.4
Share of profit of joint ventures 0.8 1.6 0.1
Dividend income (S&WHL) 4.5
Gain on sale of assets classified as held for sale,
net of currency hedge (S&WHL) 104.4
Fair value adjustments and other income 3.6 5.9 2.7
Total Income 107.3 209.4 106.7
Selling, general and administrative 48.0 43.1 45.3
EBITDA before commissions2 26.8 137.0 30.2
Adjusted EBITDA before commissions2 26.8 31.6 30.2
Net income 5.6 110.4 10.8
Adjusted net income2 5.6 15.0 10.8
Diluted earnings per share 0.08 1.43 0.13
Adjusted diluted earnings per share2 0.08 0.19 0.13
Free cash flow2 10.5 9.9 14.5
Dividends per share 0.08 0.08 0.08
Long-term debt 216.9
(end of period) Three months ended
  February 28,     November 30,     August 31,     May 31,     February 29,  
(in millions of Canadian dollars)   2021     2020     2020     2020     2020  
Mutual fund assets under management (AUM)3 $ 21,394 $ 20,322 $ 19,232 $ 18,259 $ 18,492
Institutional, sub-advisory and ETF accounts AUM 9,403 9,638 9,252 9,591 10,313
Private client AUM 6,300 6,043 5,773 5,624 5,905
Private alternatives AUM4 2,689 2,810 2,755 2,862 2,716
Total AUM, including private alternatives AUM 39,786 38,813 37,012 36,336 37,426
Net mutual fund sales (redemptions)3 385 88 (22) (93) (344)
Average daily mutual fund AUM3 21,118 19,487 18,879 17,386 19,462
1 Refer to Note 3 in the 2020 Consolidated Financial Statements for more information on the adoption of IFRS 16.
EBITDA before commissions (earnings before interest, taxes, depreciation, amortization and deferred selling commissions), adjusted EBITDA before commissions, adjusted net income, adjusted diluted earnings per share and Free Cash Flow are not standardized measures prescribed by IFRS. The Company utilizes non-IFRS measures to assess our overall performance and facilitate a comparison of quarterly and full-year results from period to period. They allow us to assess our investment management business without the impact of non-operational items. These non-IFRS measures may not be comparable with similar measures presented by other companies. These non-IFRS measures and reconciliations to IFRS, where necessary, are included in the Management’s Discussion and Analysis available at www.agf.com.
Mutual fund AUM includes retail AUM, pooled fund AUM and institutional client AUM invested in customized series offered within mutual funds.
Represents fee-earning committed and/or invested capital from AGF and external investors held through joint ventures. AGF’s portion of this AUM is $175.9 million. Of the $2.7 billion of AUM, 20% are non-fee earning assets.

For further information and detailed financial statements for the first quarter ended February 28, 2021, including Management’s Discussion and Analysis, which contains discussions of non-IFRS measures, please refer to AGF’s website at www.agf.com under ‘About AGF’ and ‘Investor Relations’ and at www.sedar.com.

Conference Call

AGF will host a conference call to review its earnings results today at 11 a.m. ET.

The live audio webcast with supporting materials will be available in the Investor Relations section of AGF’s website at www.agf.com or at https://edge.media-server.com/mmc/p/zdnh924m. Alternatively, the call can be accessed toll-free in North America by dialing 1 (800) 708-4540 (Passcode #: 50108057).

A complete archive of this discussion along with supporting materials will be available at the same webcast address within 24 hours of the end of the conference call.

About AGF Management Limited

Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. AGF brings a disciplined approach to delivering excellence in investment management through its fundamental, quantitative, alternative and high-net-worth businesses focused on providing an exceptional client experience. AGF’s suite of investment solutions extends globally to a wide range of clients, from financial advisors and individual investors to institutional investors including pension plans, corporate plans, sovereign wealth funds and endowments and foundations.

AGF has investment operations and client servicing teams on the ground in North America, Europe and Asia. With nearly $40 billion in total assets under management, AGF serves more than 700,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

AGF Management Limited shareholders, analysts and media, please contact:

Adrian Basaraba
Senior Vice-President and Chief Financial Officer
416-865-4203, InvestorRelations@agf.com

Baoqin Guo
Vice-President, Finance
416-865-4228, InvestorRelations@agf.com

Caution Regarding Forward-Looking Statements

This press release includes forward-looking statements about the Company, including its business operations, strategy and expected financial performance and condition. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as ‘expects,’ ‘estimates,’ ‘anticipates,’ ‘intends,’ ‘plans,’ ‘believes’ or negative versions thereof and similar expressions, or future or conditional verbs such as ‘may,’ ‘will,’ ‘should,’ ‘would’ and ‘could.’ In addition, any statement that may be made concerning future financial performance (including income, revenues, earnings or growth rates), ongoing business strategies or prospects, fund performance, and possible future action on our part, is also a forward-looking statement. Forward-looking statements are based on certain factors and assumptions, including expected growth, results of operations, business prospects, business performance and opportunities. While we consider these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking statements are based on current expectations and projections about future events and are inherently subject to, among other things, risks, uncertainties and assumptions about our operations, economic factors and the financial services industry generally. They are not guarantees of future performance, and actual events and results could differ materially from those expressed or implied by forward-looking statements made by us due to, but not limited to, important risk factors such as level of assets under our management, volume of sales and redemptions of our investment products, performance of our investment funds and of our investment managers and advisors, client-driven asset allocation decisions, pipeline, competitive fee levels for investment management products and administration, and competitive dealer compensation levels and cost efficiency in our investment management operations, as well as general economic, political and market factors in North America and internationally, interest and foreign exchange rates, global equity and capital markets, business competition, taxation, changes in government regulations, unexpected judicial or regulatory proceedings, technological changes, cybersecurity, the possible effects of war or terrorist activities, outbreaks of disease or illness that affect local, national or international economies (such as COVID-19), natural disasters and disruptions to public infrastructure, such as transportation, communications, power or water supply or other catastrophic events, and our ability to complete strategic transactions and integrate acquisitions, and attract and retain key personnel. We caution that the foregoing list is not exhaustive. The reader is cautioned to consider these and other factors carefully and not place undue reliance on forward-looking statements. Other than specifically required by applicable laws, we are under no obligation (and expressly disclaim any such obligation) to update or alter the forward-looking statements, whether as a result of new information, future events or otherwise. For a more complete discussion of the risk factors that may impact actual results, please refer to the ‘Risk Factors and Management of Risk’ section of the 2020 Annual MD&A.

Analytica Announces Expansion of PeriCoach® Pelvic Health Solution into China

PeriCoach

Pelvic floor exercise system for the treatment of stress urinary incontinence

  • PeriCoach will be distributed through extensive network of postpartum care centres, hospitals, pharmacy chains, and online platforms serviced by the joint venture partners.
  • Joint venture will also leverage extensive network of over 30,000 clinicians in 100 cities to distribute PeriCoach in China.
  • Agreement builds upon Analytica’s existing Middle East distribution partnership to facilitate growth and manufacturing of PeriCoach in international markets.
  • Clinical trial confirms unsupervised PeriCoach treatment is on par with in-clinic pelvic floor physical therapy for treating stress urinary incontinence, at a much lower cost.
  • PeriCoach provides cost-effective solution to improve quality of life, ease burden of care and reduce incontinence pad expenditure in postpartum and aging populations.

BRISBANE, Australia, March 31, 2021 (GLOBE NEWSWIRE) — Analytica Limited (ASX:ALT), the Australian manufacturer of the PeriCoach pelvic floor exercise system for the treatment of stress urinary incontinence, has entered into a joint venture (JV) agreement to manufacture, distribute and market the system in China, Macau, Hong Kong and Taiwan. Analytica partners with Hebei NACOL Bio-Technology Co., Ltd (Nacol) and Shijiazhuang Biosphere Pty Ltd (Biosphere), based in Hebei Province.

Nacol key shareholders include two highly experienced Chinese medical manufacturing and distribution companies, Heibei Aineng Biological Technology Co., Ltd and Shijiazhuang YST Medical Supplies Co. Ltd.

The JV will register PeriCoach with the Chinese Food and Drug Administration (CFDA) as a class II medical device. With CFDA clearance, PeriCoach can become a prescription treatment, initially covering the hospital network in the North China area.

Expansion into China will support the distribution of PeriCoach to both the rapidly growing postpartum rehabilitation market and the early-stage preventative senior market, as one in three women worldwide suffer from stress urinary incontinence. The agreement furthers Analytica’s strategy to bring PeriCoach into global markets, building upon growth in the Middle East with partner Motion Egypt LLC, and pursuit of other partners in North America, Europe and Southeast Asia outside of China.

PeriCoach is comprised of a medical device, smartphone app and the PeriVault, the largest pelvic floor muscle exercise database in the world. PeriCoach includes biofeedback technique guidance technology that helps women correctly perform pelvic floor exercises, also known as “Kegel” exercises, while the device and app are being used. Real-world data from PeriCoach patients1 shows that nearly 60% of women do not know how to engage these hidden muscles when they first use the device. PeriCoach technique guidance means “Kegels” can be done correctly and confidently by any woman in the privacy of her own home.

A recent independent, peer-reviewed, randomized controlled clinical trial2,3 performed at the University of New Mexico and published in the Journal of Female Pelvic Medicine & Reconstructive Surgery concluded that the PeriCoach biofeedback system, with no formal instruction, is non-inferior and on par with in-clinic pelvic floor physical therapy in a pelvic floor centre of excellence, making this system the most cost-effective4 form of treatment for stress and mixed urinary incontinence. Watch Video Here.

A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/1d7fc4b0-f47e-4dae-819d-b5db59eb359f

Currently manufactured in Australia, the new PeriCoach manufacturing line for the Chinese market only is located in the Shijiazhuang Free Trade Zone and will be listed as one of the major projects in the free trade zone and high technology zone.

PeriCoach will be distributed through the existing extensive network of hospitals and postpartum organisations serviced by the JV partners. The JV partners have collaborated with a leading postpartum care service platform in China with coverage of 100 cities and more than 30,000 clinical professionals.

In China, 15 million babies are born each year.5 With the rapid development of the modern economy, the postpartum rehabilitation industry has grown to 3.95bn yuan pa (US$608M) in 2018, with a compound annual growth rate of 43.9%.6

Furthermore, China, as with Western countries, has an aging population among which 31% of older women experience urinary incontinence, but only 25% of those currently seek medical assistance.7 The JV sees a large public health opportunity for conservative treatment of incontinence in women aged 50-70 years, reducing the quality-of-life impact along with the longer-term economic burden of aged-care.

The CEO of Aineng, Mr LanJu Xu, will lead the JV and comments: “We have strong confidence in Analytica’s R&D capabilities and do believe that Analytica and Nacol can take advantage of each parties’ strengths from this Joint Venture and achieve a win-win situation. Bringing together Analytica’s leading technology and Nacol’s extensive industry resources in China, we are looking forward to witnessing PeriCoach enter this huge market.”

Mr Xu has a strong background in medical devices and materials, including a track record of 17 class II medical device approvals and completed clinical trials of two class III medical devices. He is also the Team Lead for Key Research & Development (R&D) Program of the Ministry of Science and Technology in China, which is operated by four leading universities and one of the top three hospitals in China. Additionally, Mr Xu is the lead of the medical material R&D Center in Nankai University.

Analytica Ltd Chairman, Dr Michael Monsour, comments: “Entering the China market with such nimble, experienced operators is a major milestone for Analytica. China is leading the world in recognising the need for effective postpartum care and is facing the challenge of caring for its large aging population by using the PeriCoach system to assist women with managing incontinence. PeriCoach is a proven cost-effective solution that will dramatically improve quality of life and burden of care for women. We look forward to the continued exploration of our strategic options to expand the availability of PeriCoach globally.”

Analytica has recently moved its Australian manufacturing operations and is looking to re-establish online sales in the US, UK/Ireland, Australia and New Zealand in the near future. PeriCoach has USFDA 510(k) clearance, Australian ARTG registration, and CE-marking.

For more information, please contact: investorrelations@analyticamedical.com

For more information about the PeriCoach System, visit: www.PeriCoach.com

For more information about Analytica, visit: www.AnalyticaMedical.com

References

  1. Data on file.
  2. Analytica Announcement: https://www.analyticamedical.com/downloads/2020/20201120-ASX-ALT-UoNM-FPMRS.pdf
  3. Barnes, Kara Lauren MD*; Cichowski, Sara MD, FACOG, FPMRS†; Komesu, Yuko M. MD, FACOG, FPMRS*; Jeppson, Peter C. MD, FACOG, FASC, FPMRS*; McGuire, Brenna MD*; Ninivaggio, Cara S. MD, FPMRS*; Dunivan, Gena C. MD, FACOG, FPMRS* Home Biofeedback Versus Physical Therapy for Stress Urinary Incontinence, Female Pelvic Medicine & Reconstructive Surgery: November 16, 2020 – Volume Publish Ahead of Print – Issue – doi: 10.1097/SPV.0000000000000993: https://journals.lww.com/jpelvicsurgery/Abstract/9000/Home_Biofeedback_Versus_Physical_Therapy_for.99288.aspx
  4. White Paper: Health Economics of PeriCoach for Management of Stress Urinary Incontinence: https://www.analyticamedical.com/downloads/2020/20201124-ASX-ALT-deWinterWhitepaper.pdf
  5. National Bureau of Statistics of China: https://data.stats.gov.cn/easyquery.htm?cn=C01&zb=A03060D&sj=2020
  6. Compound Growth: Overview of China’s postpartum rehabilitation equipment industry in 2019 (report code: 19RI0824) by leadleo Academy
  7. Che, X. Y., Wu, S. L., Chen, Y. K., Huang, Y. B., & Yang, Y. (2019). Beijing da xue xue bao. Yi xue ban = Journal of Peking University. Health sciences, 51(4), 706–710. https://doi.org/10.19723/j.issn.1671-167X.2019.04.019https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7433489/

About Analytica Limited

Analytica’s lead product is the PeriCoach® System – an e-health treatment system for women who suffer Stress Urinary Incontinence. This affects 1 in 3 women worldwide and is mostly caused by trauma to the pelvic floor muscles as a result of pregnancy, childbirth and menopause.

PeriCoach comprises a device, web portal and smartphone app. The device evaluates activity in pelvic floor muscles. This information is transmitted to a smartphone app and can be loaded to a cloud database where physicians can monitor patient progress via web portal. This novel system enables physicians to remotely determine if a woman is performing her pelvic floor exercises and if these are improving her condition. Strengthening of the pelvic floor muscles can also potentially improve sexual sensation or satisfaction and orgasm potential in some women.

PeriCoach has regulatory clearance for urinary incontinence in Australia and has CE mark and USFDA 510(k) clearance.

PeriCoach also has clearance in Australia, and CE Marking in Europe for the treatment of pelvic organ prolapse, a condition that affects up to 1 in 5 women during their lifetime.

Contact:
Geoff Daly, CEO
investorrelations@analyticamedical.com

Philips and NHS implement the first regional data integration hub for UK’s National COVID-19 Chest Imaging Database

March 31, 2021

  • Cheshire and Merseyside consortium (NHS) is the first region to have achieved this milestone for the UK’s National COVID-19 Chest Imaging Database (NCCID)
  • The deployment of a single SMART box server has provided access to 15 years of imaging data across 2.5 million people in the region, the largest single data source for NCCID
  • Data integration capabilities as a result of this deployment will allow Cheshire and Merseyside to validate the use of AI technology across a variety of conditions

Amsterdam, the Netherlands and Guildford, United Kingdom – Royal Philips (NYSE: PHG, AEX: PHIA), today announced it has supported the NHS’ Cheshire and Merseyside consortium [1] to become the first regional hub supplying the United Kingdom’s National COVID-19 Chest Imaging Database (NCCID). The NCCID is a centralized database containing X-Ray, CT and MRI images from hospital patients across the country. It aims to support a better understanding of the COVID-19 virus and develop AI-powered technology which will enable the best care for patients hospitalized with a severe infection [2]. This first regional hub is integrating data across 13 NHS trusts in the consortium. The deployment of a single centralized and secure server has provided access to 15 years of imaging data across 2.5 million people in the region, the largest single data source for NCCID.

The Cheshire and Merseyside consortium engaged with Philips to help with enabling access to the entire region’s imaging data through a single hub. Philips’ advanced data integration solution for radiology, Philips Global worklist, was used to enable easy integration with the NCIDD’s secure central SMART Box server that will be required to support mass data collection, management and de-identification and can facilitate multiple trials/research projects simultaneously.

“One of the findings coming out of the end of this project will definitely be to focus on regional hubs that will be able to coordinate and better centralize the data, a hub just like Cheshire and Merseyside,” said Prof Mark-Halling Brown, Head of Scientific Computing at Royal Surrey NHS Foundation Trust. “It can take many months or even years to set up SMART boxes at individual trusts, so doing it regionally is the only way to scale up nationally.”

“Most District General Hospitals average 250,000 to 350,000 imaging exams per year,” said Steve Sparks, Professional Services Manager Radiology Informatics at Philips UK&I. “With a single regional SMART box we have been able to gain access to the images from the 13 Trusts within the Cheshire and Merseyside consortium.”

Save Radiologists’ time, increase the safety and consistency of care
The NCCID database is developed in collaboration with NHSX, an organization driving the digital transformation of the NHS, The British Society of Thoracic Imaging (BSTI) and The Royal Surrey NHS Foundation Trust. The database is being used for the validation of AI products for use in the NHS, aiding the diagnosis and treatment of COVID-19 in the UK population. This data has the potential to enable quicker patient assessment when arriving at hospital’s emergency departments, save Radiologists’ time, increase the safety and consistency of care across the country, and ultimately save lives. It is being made available to researchers, clinicians, technology companies and all those wanting to investigate the disease and develop solutions that can support the COVID-19 patient care pathway.

The SMART box server technology will also enable Cheshire and Merseyside to participate in research into many areas requiring large volumes of clinical imaging data. The COVID-19 pandemic has highlighted the potential for medical imaging systems powered by AI. The NHS AI Lab, created last year within NHSX, is developing a National Medical Imaging Platform with the purpose of creating a pipeline for patient data to be used within AI technology across conditions other than COVID-19. The NCCID is one workstream taken forward by the NHS AI Lab at NHSX, which will accelerate the safe, ethical, and effective adoption of AI in the healthcare sector. The power of large-scale data collection has already been demonstrated in various studies, including breast cancer screening studies such as OPTIMAM. Setting up regional hubs, such as the SMART box deployment in Cheshire and Merseyside, will aid the creation of these large-scale National databases and AI technology to help combat a variety of conditions.

Comprehensive portfolio for COVID-19 high-quality care
Philips has a comprehensive portfolio of products, services and solutions to support the delivery of high-quality care to COVID-19 patients worldwide. Solutions include secure, connected and intelligent approaches to diagnosis, treatment and predictive monitoring in the hospital, plus screening, remote patient monitoring and care at home. Philips’ telehealth and AI-enabled data analytics can help support workflows, facilitate remote collaboration and optimize resources. Philips’ COVID-19-related solutions are designed for rapid deployment and scalability.

[1] Cheshire and Merseyside is a consortium group of 13 NHS trusts providing healthcare provision for a population of over 2.5 million people in the region.
[2] https://www.nhsx.nhs.uk/covid-19-response/data-and-covid-19/national-covid-19-chest-imaging-database-nccid/

For further information, please contact:

Joost Maltha
Philips Global Press Office
Tel.: +31 6 10 55 81 16
E-mail: joost.maltha@philips.com

Emily Wells-Burr
Integrated Communications Manager, Philips UKI
Tel: 07825 105 685
E-mail: emilywellsburr@philips.com

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2020 sales of EUR 19.5 billion and employs approximately 82,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

Attachments

Hobby that makes Heddy a millionaire

His interest in antiques began since he was young, having been surrounded and exposed to items of historical value and with a story of their own which belonged to his father, uncle and grandfather.

Since then, Heddy MN, 45, whose favourite subject in school was History, is determined to have his own collection of antiques because of their aesthetic value.

Old magazines and posters from the land of the rising sun are among his first antique collection, which he bought while still studying at a university, and collecting old items soon became a habit that he has now amassed more than 30,000 pieces of antique items, estimated to be worth millions of ringgit.

These priceless items , which are not only obtained locally, but also from the United Kingdom, Germany, Italy, Portugal andJapan, are properly kept at a special place in his shop and home.

“One of the valuable antique collections I have is a jar with a lid of the Nyonya Peranakan as it is believed to belong to a Chinese captain from the 1860s.

“I also have a collection of copper and bronze items from China from the Han Dynasty, believed to be from 206 BC to 220 BC,” he told Bernama when met at his gallery, Kota Pinang Enterprise, in Pasar Seni here recently.

The Melaka-born Heddy said he also owned about 250 coin boxes from the 1950s to the late 1970s that were issued by various banking institutions, including Chung Khiaw Bank, OCBC, Malayan Banking and United Malayan Banking Corporation.

“These coin boxes are of limited edition and they are in the shape of animals such as chicken, rhinoceros, elephant and bear to attract children to save,” he said, adding that what is unique about the coin boxes is that they are mostly made from a mixture of iron, tin and copper.

Heddy, who was in the finance industry for two decades, said he is hoping to make the present young generation aware of the old coin boxes by producing a coffee table book which will be ready early next year.

The book will serve as a reference material on old coin boxes that were issued by the banking institution in the country, he added.

Heddy also owns a collection of six sets of cups and saucers with the old Malaysia Airlines (MAS) logo from 1972, as well as a limited edition chess set of Looney Tunes from Warner Bros from the late 1980s.

According to him, through his hobby of collecting antiques, he is able to help preserve the uniqueness of the old items, as well as protect the country’s treasures from being taken away to other countries.

Heddy said there had been offers from foreigners to purchase the Nyonya Perakan jar.

“The price offered was very lucrative, but I did not want to part with it because it is a priceless treasure. I do want to sell my antique collections, but not to outsiders,” he added.

Source: BERNAMA News Agency

Form two student’s courage in SAR operation recognised with accolade by PDRM

— He is only 14 years-old, but his exceptional courage in helping the rescue team to find a drowned victim at Pantai Jambu Bongkok here last December was acknowledged by the Royal Malaysia Police (PDRM) during the 214th Police Day celebration recently,

Muhammad Norman Haikal Mazlan, when contacted by Bernama, said he was overwhelmed and happy to receive the accolade from PDRM.

“I regard it as an encouragement to never hesitate to help anyone in need,” he added.

Recalling the incident, which occurred on Dec 25, the boy said his father, Mazlan Mamat, 58, and he used the jet ski to assist in the search and rescue (SAR) for the victim as the rough sea condition, with the huge waves, hampered movement of the rescue boats.

“It was the first time that I was involved in such an operation and I did not expect my small contribution to be appreciated by PDRM,” he said.

Muhammad Norman Haikal has been jet skiing since he was six years old, trained by his father and three older brothers, who are known as jet ski racers.

As for Mazlan, his involvement as a volunteer in the SAR operation was not new as he has been helping the police in such an operation for the past 20 years.

“I thank the police for recognising my son’s contribution and hope Muhammad Norman Haikal will progress to become a good jet ski racer and use the skill to continue to help others,” he added.

Meanwhile, Marang district police chief DSP Mohd Zain Mat Dris said the courage shown by Muhammad Norman Haikal, who is in Form Two at Sekolah Menengah Agama Marang, should be emulated by others.

He said with the assistance provided by Muhammad Norman Haikal and his father, who were on jet skis, in the SAR, enabled the police to end the operation in three days.

The victim was found at 6.30pm on Dec 27 and Muhammad Norman Haikal and a group of jet skiers, as well as other members of the SAR team took two hours to bring the body to shore as the sea condition at that time was very rough and the strong waves made it impossible for rescue boats to approach the beach, he added.

Mohd Zain said Muhammad Norman Haikal’s courage and determination in helping the SAR team in the operation attracted the attention of many quarters.

“The incident happened during the monsoon season, during rough seas and huge waves, but Muhammad Norman Haikal was willing to sacrifice his life to help and this should be an example to other young people.

“Congratulations to him and his family and the police hope that more young people will be able to serve the community and the country in the future without expecting anything in return,” he added.

The victim, Wan Nashaifudin Wan Latif, 48, from Kampung Bukit Tok Bat Batu 24, Kuala Berang, Hulu Terengganu, was said to be bathing with six friends in the sea when he was swept by the current.

Source: BERNAMA News Agency

Private Adam dies of lung infection

Adam Jaafar or better known as Private Adam died yesterday at the Penang Hospital (HPP) due to a lung infection.

His sister, Hawa, 56, when contacted by Bernama, said her brother died at about 9am while receiving treatment at HPP.

“Before this, my brother was fine, he was healthy except for the occasional fever which is normal…the only thing was last week he was admitted into hospital and the medical examination showed he had a lung infection,” she said here, today.

She said his remains were buried at the Datuk Keramat Muslim Cemetery after zohor prayers. He was 57.

Hawa said the family was saddened by her brother’s death but has accepted it as fate and prayed that his soul be blessed and placed among the pious.

Adam, the eldest of eight siblings had been a good and caring brother, she added.

In October 1987, Adam, then a 26-year-old soldier ran amok and went on a shooting spree at Jalan Chow Kit, that left one person dead and several others wounded.

He escaped the death penalty and was sent to Tanjung Rambutan Hospital for 10 years after he was certified to be insane at the time of committing the offence.

Source: BERNAMA News Agency