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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.
At its nadir, Philips stock had fallen 70% because of the recall. Shares have begun to rebound and have almost doubled since October 2022 when Jakobs became CEO but remain well below pre-recall ...
AMSTERDAM (Reuters) -Philips shares surged 35% early on Monday as the medical devices maker announced a smaller-than-expected settlement to resolve claims over recalled breathing devices in the ...
Following this announcement, Philips' stock experienced a 3.3% rise in Amsterdam, reflecting a positive market reaction. Philips stock has gained more than 27% in the last 12 months.
Market share (2019) Dräger: Germany 24 % Weinmann Medical: Germany 21 % Hamilton Medical: U.S., Switzerland 18 % Vyaire Medical: U.S. 5 % Customs Japan 4 % O Two Canada 4 % Smiths Medical U.S. 4 % Medtronic: Ireland, U.S. 4 % Air Liquide Healthcare France 3 % (and 13 other vendors contributing for 13%)
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 ...
Philips stated that the main reason for the demerger was that the medical technology business accounted for more than 40% of sales, while its lighting arm remained a major money-spinner, selling products in 180 countries. [4] The separated entity had an initial public offering on 27 May 2016, valued at US$3.4 billion; 25% of the shares were ...