There are 5.5 million recalled CPAPs and other devices — and reports of deaths. Here’s a Philips recall timeline. Philips in mid-2021 kicked off a recall that involved millions of CPAP and BiPAP ventilators and other respiratory devices. The devices — used for sleep apnea therapy and more — had sound abatement foam that could […]
Philips Respironics
Philips CEO Roy Jakobs reportedly approved continued sale of defective sleep respiratory devices
A new report from ProPublica and the Pittsburgh Post-Gazette claims to shed more light on the alleged role of Philips CEO Roy Jakobs in the ongoing Respironics recall. Philips has been handling a Class I recall of certain respiratory devices since mid-2021. Respironics recalled millions of ventilators, bi-level positive airway pressure (BiPAP) and continuous positive airway pressure (CPAP) machines. […]
Philips stock rises on Q3 growth, increased 2023 outlook
Philips (NYSE:PHG) shares ticked up today on third-quarter results that came in ahead of the consensus forecast on Wall Street. Shares of PHG rose 2.8% at $18.77 apiece in late-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — fell 0.14%. The Amsterdam-based company posted profits […]
FDA wants more testing in Philips recall
The FDA has issued a communication stating its desire for more testing in the massive respiratory device recall at Philips . The morning after the FDA’s evening announcement, PHG shares were down more than 7% on the NYSE to $18.31 apiece. PHIA shares in Amsterdam closed the day down more than 8%. (MassDevice’s MedTech 100 […]
The Philips CPAP recall settlement could be just be the start
Philips is set to pay at least $479 million to settle claims related to its ongoing Respironics recall. It could just be the beginning of settling what has arguably been one of the medical device industry’s most serious recalls in recent decades. (Here is a full timeline of the Philips recall.) Subject to approval in […]
Philips reaches settlement in class-action lawsuit over sleep apnea machine recall
Philips announced today that it reached a class-action settlement on economic loss claims related to its ongoing Respironics recall. The agreement resolves all economic loss claims in the U.S. multidistrict litigation (MDL) related to the voluntary recall. Philips expects to submit the settlement to the U.S. District Court for the Western District of Pennsylvania later […]
Philips Respironics has a Class I level ventilators recall
The FDA has posted information on its website about another serious recall involving Philips Respironics products. The news comes the same week that Philips got a vote of confidence from Exor, the investment arm of Italy’s wealthy Agnelli family, which bought a 15% stake in the Dutch medtech giant to become its largest shareholder. Media […]
Philips: Study shows recalled CPAPs unlikely to cause appreciable harm
Philips (NYSE:PHG) today shared results from a test and research program for the ongoing recall within its Respironics subsidiary. The Amsterdam-based medtech giant says third-party test results determined that issues around its respiratory devices are unlikely to cause appreciable harm to health. These now-completed risk assessments fall in line with results shared by Philips in late […]
Philips stock rises on Q1 results, recall litigation provision news
Philips reported first-quarter sales growth, plus a litigation update around its ongoing Respironics recall. Shares of PHG ticked up 14% at $21.70 apiece in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 0.1%. Sales for the Dutch medtech giant increased by 6% year […]
FDA questions Philips’ replacement respiratory device numbers
The FDA said today that it is clarifying claims by Philips that it has shipped 2.46 million replacement respiratory devices and repair kits in the U.S. The agency claims the number of replacement and remediated CPAPs and other respiratory devices shipped to U.S. consumers is considerably less than the 2.46 million number of “new replacement […]
Philips Respironics recalls some reworked DreamStation devices, deemed Class I by FDA
Issues for Philips (NYSE:PHG) Respironics continue as the FDA deemed a recall of reworked DreamStation devices Class I, the most serious kind. Problems have continued to mount over the past two years or so for the Dutch medtech giant. In 2021, Philips initiated a recall involving millions of CPAP and BiPAP ventilators and other respiratory devices […]
