Philips (PHG) CEO Roy Jakobs sits down with Catalysts Hosts Seana Smith and Madison Mills to discuss the health tech company's strategy for President-elect Donald Trump's second term in the White House.

"We have, of course, been going through several supply chain challenges [since the pandemic]. We also have been working [on] how we make our supply chain more resilient and agile because the situation currently is not clear, which means that we need to be prepared to move fast if [some] kind of clarity comes out," Jakobs tells the Catalyst team.

He says the company is working to source products in the market in which they are being sold to minimize trade war impacts. "This was one of the pillars of my strategy where we said [a] reliable supply chain is extremely important to be able to cater to the demands in the healthcare market."

Amid uncertainty around Trump's second term about tariffs and other policies, Jakobs says the company has "been working with many administrations, and we have been doing that across our lifetime of 133 years." He says Philips has worked with the current administration, the first Trump administration, and plans to continue to do so with the second Trump administration.

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This post was written by Naomi Buchanan.