Through the population health software acquired with Wellcentive, Philips will help hospitals identify patient cohorts for which preventative care and chronic disease management will drive better outcomes at a lower cost to the system.

"In all these modalities, and as we connect caregivers so that care coordination around the patient becomes more effective, you get to see the ecosystem along the continuum, where Philips is the integrater and we can really move the needle on accountable care," he said.

And while it may be an overly tidy recap, it does hint at what the company is referring to when it talks about a health tech infrastructure. It also illustrates a focus in overcoming the obstacles laid out in its Future Health Index — a recent survey assessing global readiness for overhauling health care in an era of connectivity.

For all these plans, it's clear from speaking to van Houten that not everyone immediately thinks "health care" when they hear the name Philips.

"The part that is still confusing to analysts and shareholders is that we are still consolidating the lighting numbers, as we are still a 70 percent owner of the lighting business," he said. "This is a temporary thing; as soon as we can sell down below 50 percent it will become clearer to people who look at our numbers that we are a health tech company."

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