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Philips said it had agreed to pay $1.1 billion to settle all personal injury claims filed in the U.S., ending uncertainty that had slashed its market value over the past three years.
Earlier this year, Dutch medical device maker Royal Philips reached a $1.1 billion deal to settle thousands of claims stemming from a recall in 2021 of millions of its breathing machines like ...
The company said it has struck a deal to settle U.S. class action "economic loss" claims. Philips will make an initial payment of $479 million to a fund to cover payments claimants covered by the ...
Jun. 15—Medical equipment company Philips has issued a recall on some products to address possible health risks associated with a foam component meant to help reduce noise. The polyester-based ...
During the pandemic, Philips conducted a series of studies on the foam, showing the deteriorating foam and chemicals released by it, which could cause "serious injury, life-threatening or permanent impairment". [2] The company said patients' health is its top priority, and regretted the "distress and concern" that the recall caused.
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The medical technology and equipment giant Philips has recalled some of its ventilators and CPAP machines due to a form piece that could potentially become toxic and cause cancer in its users.
Philips was recalling the ventilators after detecting contaminants such as dust and dirt from the environment in the air path of some devices. The company has received 542 reports about this issue ...