The Agnelli family doubles down on the healthcare sector: approved to increase its stake in Philips (PHG.US) to 22%, with an investment valuation approaching 5 billion euros.

According to the Zhitong Financial APP, Dutch medical technology company Philips (PHG.US) and its largest shareholder, Exor Group, under the Italian Agnelli family, announced on Tuesday that they have extended their shareholder agreement, increasing Exor's ownership limit in Philips from the previous 20% to 22%, and allowing for further increases upon approval from the supervisory board. This move marks a deeper bet on the medical technology sector by the prestigious family that founded Fiat Automobiles, led by CEO John Elkann.