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Respironics is an American medical supply company owned by Philips that specializes in products that improve respiratory functions. It is based in the Pittsburgh suburb of Murrysville in Pennsylvania, United States. Some of its products had hazardous foam that disintegrated and entered patients' bodies.
In the early 2000s, Philips bought many medical device companies and offered to buy Respironics for $66 a share when its stock was worth $53. McGinnis and the Respironics board did not want to sell the company and declined an earlier takeover offer. [3] However, they reluctantly accepted the sale because the shareholders wanted to cash out.
Gerard Philips (1858–1942), founder. The Philips Company was founded in 1891, by Dutch entrepreneur Gerard Philips and his father Frederik Philips. Frederik, a banker based in Zaltbommel, financed the purchase and setup of an empty factory building in Eindhoven, where the company started the production of carbon-filament lamps and other electro-technical products in 1892.
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 ...
Exor announced on Aug. 14 it had taken a 15% stake in Philips for $2.8 billion in a surprise move, saying it viewed shares as undervalued after a global recall of respiratory devices the company ...
Rotech said Respironics immediately took steps to secure the systems and performed further investigation and analysis. Dutch health technology company Philips said in an emailed response that its ...
ResMed Inc. is an American medical equipment company based in San Diego, California.It primarily provides cloud-connectable medical devices for the treatment of sleep apnea (such as CPAP devices and masks), chronic obstructive pulmonary disease (COPD), and other respiratory conditions.
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 ...
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