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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.
AMSTERDAM (Reuters) -The U.S. Food and Drug Administration (FDA) said it is still not satisfied with how Dutch healthcare technology company Philips has handled a major product recall and the ...
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.
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Philips Norelco is the American brand name for electric shavers and other personal care products made by the Consumer Lifestyle division of Philips. [1] [2]For personal care products marketed outside the United States, Palau, Micronesia, and the Marshall Islands, Philips used the Philishave trademark until 2006.
On June 5, 1985 General Motors was announced as the winner of a secretive five month, sealed-bid auction. Other bidders included Ford Motor Company and Boeing. [1] The purchase was completed on December 20, 1985, for an estimated $5.2 billion, with $2.7 billion in cash and the remainder in 50 million shares of GM Class H stock. [2]