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Search resuls for: "Philips Respironics"


10 mentions found


☆ Philips Settles CPAP Breathing Device Lawsuits for $1.1 Billion
  + stars: | 2024-04-29 | by ( Christina Jewett | More About Christina Jewett | ) www.nytimes.com   time to read: +1 min
Philips Respironics has reached a $1.1 billion settlement over claims that people who used their CPAP and other breathing devices were harmed by noxious gasses and flecks of foam that lodged in their airways, sometimes for years. Thousands of people contended in lawsuits that they had been injured by popular Philips DreamStation machines. Philips did not admit any fault in the settlement, including whether the devices caused the injuries, according to a financial report issued Monday. The personal injury settlement follows a $479 million settlement reached in September over economic losses to the patients and medical equipment sales companies that financed replacement devices. Philips also agreed to a consent decree earlier this year that forced the company to halt U.S. sales of new devices until certain conditions are met.
Persons: Philips Respironics, Philips Organizations: Philips
☆ Philips Suspends U.S. Sales of Breathing Machines After Recall
  + stars: | 2024-01-29 | by ( Christina Jewett | ) www.nytimes.com   time to read: +1 min
Philips Respironics announced on Monday that it would halt sales of all of its breathing machines in the United States after reaching a settlement with the Food and Drug Administration over continuing problems with the devices. Millions of the company’s ventilators and CPAP machines, used to ease breathing at night, were recalled after reports that they blew bits of foam and potentially toxic gases into consumers’ airways. Under the settlement, Philips said it would have to meet a list of standards in a “multiyear” plan before it could resume business in the United States. The company initially began the recall of millions of devices in June 2021 and paused sales of new sleep therapy machines to the United States, according to Steve Klink, a spokesman for Philips. cited the potential for serious injury or permanent impairment from the potentially cancer-causing chemicals emitted from the devices.
Persons: Philips Respironics, Philips, Steve Klink Organizations: Food and Drug Administration, Philips Locations: United States
☆ US FDA flags new problem with Philips machines, shares fall
  + stars: | 2023-11-28 | by ( ) www.reuters.com   time to read: +2 min
[1/2] Dutch technology company Philips' logo is seen at company headquarters in Amsterdam, Netherlands, January 29, 2019. The new issue identified by the FDA involves a humidifier used in the "DreamStation 2" sleep therapy device. "Philips Respironics is in discussions with the (FDA) regarding the reports," it said. Philips shares were down 6.7% at 18.26 euros by 0833 GMT. The FDA said it had received reports of people facing thermal issues such as fire, smoke, burns, and other signs of overheating while using Philips' DreamStation 2 CPAP machines.
Persons: Eva Plevier, Philips, Toby Sterling, Christy Santhosh, Diana Alvarez, Shailesh Kuber, Jan Harvey Organizations: Philips, REUTERS, U.S . Food, Drug Administration, FDA, ING, Thomson Locations: Dutch, Amsterdam, Netherlands, U.S, Bengaluru, Gdansk
☆ CPAP maker Philips agrees to pay at least $479 million to users over recalled devices
  + stars: | 2023-09-08 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: +2 min
New York CNN —CPAP sleep apnea machine maker Philips Respironics agreed to pay at least $479 million in a settlement over alleged health risks from toxic sound reducing foam, lawyers for the plaintiff announced Thursday. The settlement will go toward users who bought or rented the recalled devices and those who incurred out-of-pocket costs or had to reimburse users for those costs, the lawyers said. In 2021, Philips recalled about 10.8 million devices, saying the silicone-based foam they used to reduce sound and vibration can break down and can be breathed in by the user. Philips will pay awards to users for each recalled device, which range from $55.63 to $1,552.25. Philips set aside 575 million euros, or about $615 million, in the first quarter of 2023 to cover the estimated costs, the company said.
Persons: Philips Respironics, “, ”, Philips, ” Philips, They’ll, Claims, Joy Flowers Conti Organizations: New, New York CNN, Philips, Philips Respironics, CNN, FDA, ”, United States, Court, Western, Western District of Locations: New York, Western District, Western District of Pennsylvania
☆ Dutch company Philips reaches U.S. settlement over respirators
  + stars: | 2023-09-07 | by ( ) www.reuters.com   time to read: +1 min
Dutch technology company Philips' logo is seen at company headquarters in Amsterdam, Netherlands, January 29, 2019. REUTERS/Eva Plevier/File Photo Acquire Licensing RightsCompanies Koninklijke Philips NV FollowPARIS, Sept 7 (Reuters) - Philips (PHG.AS) and some of its local units reached an agreement to resolve all economic loss claims in a US litigation related to the recall of certain sleep and respiratory care devices, the Dutch company announced on Thursday. The agreement includes cash awards to participants of the lawsuit depending on the type of device. Philips Respironics has recorded a provision for an amount of 575 million euros ($615.48 million) in the first quarter of 2023 to cover the estimated costs of the final settlement, it said in a statement. ($1 = 0.9342 euros)Reporting by Tassilo Hummel; Editing by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.
Persons: Eva Plevier, Philips Respironics, Tassilo Hummel, Sudip Kar Organizations: Philips, REUTERS, Koninklijke Philips NV, Gupta, Thomson Locations: Amsterdam, Netherlands, Dutch
☆ CPAP Maker Reaches $479 Million Settlement on Breathing Device Defects
  + stars: | 2023-09-07 | by ( Christina Jewett | More About Christina Jewett | ) www.nytimes.com   time to read: +1 min
The economic claims amount is uncapped, which will permit other device users to apply for compensation. This tentative settlement, which is subject to federal court approval, does not address other significant claims in the plaintiffs’ cases involving personal injury or the cost of medical care related to use of the breathing machines. The company has faced a multiyear setback, after beginning recalls in the United States of about five million of its breathing machines, which are intended for people with sleep apnea and other maladies. The lawsuits have claimed that flaking foam and gasses emitted from the machines were linked to health issues including respiratory illnesses, lung cancer and death. The foam was used in the machines to reduce noise and vibration.
Persons: Philips Respironics, Philips Locations: United States
☆ Philips slightly raises 2023 outlook after second-quarter core profit beat
  + stars: | 2023-07-24 | by ( ) www.cnbc.com   time to read: +2 min
(Photo by Beata Zawrzel/NurPhoto via Getty Images)Dutch health technology company Philips on Monday slightly raised its full-year targets after posting a bigger-than-expected jump in second-quarter core earnings thanks to better supply chains, a strong order book and efficiency measures. For the full year, it now expects a mid-single-digit comparable sales growth versus its previous guidance of a low-single-digit growth. Its adjusted EBITA margin is now seen at the upper end of its previously forecasted high-single-digit range. Philips, which is facing lawsuits over its recall of respiratory devices, said it had produced approximately 99% of the new replacement respiratory devices and repair kits required for the remediation of the registered affected devices. "Completing the Philips Respironics field action remains our highest priority.
Persons: Beata Zawrzel, Roy Jakobs Organizations: Philips, Getty Images, U.S . Department of Justice Locations: Warsaw, Poland, Amsterdam
☆ This maker of CPAP machines can gain market share as rival deals with a recall, Mizuho says
  + stars: | 2023-04-14 | by ( Brian Evans | ) www.cnbc.com   time to read: +1 min
An ongoing product recall for one of ResMed's top competitors opens up a big opportunity for the continuous positive airway pressure (CPAP) equipment maker, according to Mizuho. Philips Respironics, a rival CPAP hardware maker, is still contending with a 2021 recall of its products, leaving the door open for ResMed to grow its market share, Petrone said. "In aggregate, we see RMD settling at nearly ~60% permanent sleep device share, up from ~50%, as a result of the extended Philips CPAP recall," Petrone wrote on Thursday. Petrone added that ResMed has maintained its market share from a decline in Philips for longer than expected. RMD YTD mountain RMD in 2023 Mizuho pointed toward proprietary survey data that indicated pent-up demand and a rebound in U.S. volume.
☆ U.S. FDA classifies recall of Philips' respiratory devices as most serious
  + stars: | 2023-02-16 | by ( ) www.reuters.com   time to read: +1 min
Feb 16 (Reuters) - The U.S. Food and Drug Administration (FDA) on Thursday classified the recall of Dutch medical devices maker Philips' (PHG.AS) respiratory machines as most serious, saying their use could lead to injuries or death. The company's ventilators provide breathing assistance to both pediatric and adult patients. The recall follows Philips' move to call back millions of breathing devices and ventilators in June 2021 due to the potential of a foam part degrading and becoming toxic, possibly causing cancer. Its subsidiary, Philips Respironics, had in December also recalled about 13,811 ventilators which were distributed between March 1, 2022 and Sept. 6, 2022. Philips did not immediately respond to a Reuters request for comment on the impact from the recall.
☆ Philips says tests on recalled products show limited health risks
  + stars: | 2022-12-21 | by ( Bart H. Meijer | ) www.reuters.com   time to read: +3 min
[1/2] Logo of Dutch technology company Philips is seen at its company headquarters in Amsterdam, Netherlands, January 29, 2019. REUTERS/Eva Plevier/File PhotoSummarySummary Companies Philips: Tests show DreamStation devices unlikely to cause harmFoam degradation more likely if unauthorised cleaners usedShares up 3.5%, after recall wiped 70% off market valueAMSTERDAM, Dec 21 (Reuters) - Dutch health technology company Philips (PHG.AS) said on Wednesday independent tests on its respiratory devices involved in a major global recall had shown limited health risks. Philips had already said earlier this year that tests indicated foam degradation was very rare and was linked to the use of unauthorised ozone-based cleaning products. It said further tests now showed machines cleaned with those products were 14 times more likely to have significant visible foam degradation than those treated with authorised products. The U.S. Food and Drug Administration (FDA) is still considering the results and "may reach different conclusions", Philips said.
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