Healthcare and medical technology have a large environmental impact in both carbon emissions and waste generated. The circular economy offers several theoretical design strategies and business models to reduce the impact of a business, and these can and should be applied to the medical industry. This paper explores circular strategies and reviews the opportunities and challenges for the circular economy in the medical sector, then analyzes Philips Healthcare as a case study. The analysis of Philips offers generalizations for the wider industry and further recommendations for Philips’s circularity efforts.