Philips (NYSE:PHG) and Medtronic (NYSE:MDT) today announced a strategic advocacy partnership centered around stroke care. The two companies joined forces to advocate on raising awareness around potential health and economic benefits for patients, families and societies associated with improving access to timely stroke diagnosis and treatment. Philips and Medtronic Neurovascular also further expanded and strengthened partnerships […]
Philips
Philips warns on Trilogy ventilator nebulizers following recall
Philips Respironics has issued additional usage instructions as part of a voluntary recall of some of its ventilators. Last week, the FDA designated a recall of Trilogy Evo, Trilogy EV300, Trilogy Evo O2, Trilogy Evo Universal ventilators as Class I, the most serious kind. The issue centered around software errors, including an inaccurate display of […]
Philips eyes Minnesota expansion
CCX Media reported on Monday that Philips is looking to initiate an expansion at its facility in Plymouth, Minnesota. The company’s Image Guided Therapy Corp. hopes to expand its facility at 5905 Nathan Lane N. in Plymouth. According to the City Council’s Sept. 24 agenda notes, it applied for state funds to help with the […]
Philips has another Class I level ventilator recall
Philips continues to have serious respiratory device recalls, more than three years into a major safety crisis for its Respironics business. Yesterday, the FDA designated a recall of Trilogy Evo, Trilogy EV300, Trilogy Evo O2, Trilogy Evo Universal ventilators as Class I, it’s most serious level. Philips says the action involves roughly 90,000 units worldwide, […]
FDA approves enhanced Philips LumiGuide endovascular navigation wire
Philips announced today that it introduced the FDA-approved, 160 cm version of its LumiGuide endovascular navigation wire. Dr. Carlos Timaran, a vascular surgeon, marked the launch with the first use of the guidewire on a patient. It features the company’s breakthrough Fiber Optic RealShape (FORS) technology. Timaran performed a complex aortic aneurism repair operation. Philips […]
The 10 largest medical device companies
Medtronic remains at the top, but Johnson & Johnson MedTech is now a close second in the Medtech Big 100 list of largest medical device companies. Could we see a new No. 1 company in next year’s Medtech Big 100 report? Time will tell. But in the meantime, this year’s edition of Medical Design & […]
Philips to repurchase shares for up to $137.4M
Philips announced today that it plans to repurchase shares for an amount up to $137.4 million (€125 million). The Amsterdam-based medtech giant said in a news release that the repurchase aims to cover certain obligations from a long-term incentive plan. At the current share price, the repurchase comprises a total of approximately 4.8 million shares. […]
Philips stock rises on Street-beating Q2
Philips shares got a boost today on second-quarter results that came in ahead of the consensus forecast. Shares of PHG went up 13.6% to $29.25 apiece in midday trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 0.6%. The earnings provided some good news for […]
Philips inks new multi-year patient monitoring collab
Philips announced today that it entered into a multi-year strategic collaboration with Bon Secours Mercy Health. The collaboration aims to put BSMH clinicians in control of patient monitoring to reduce digital burden and provide more time with patients. Philips plans to provide access to its latest monitoring innovations. That includes a scalable patient monitoring platform […]
FDA corrects death tally in Philips ventilator recall
The FDA issued a clarification that significantly trims the number of deaths reportedly associated with a recall of Philips Respironics ventilators. On June 28, the FDA issued a Class I recall notice involving potential Ventilator Inoperative alarm failures on BiPAP V30, BiPAP A30, BiPAP A40 devices. At the time, the FDA cited 952 reports of […]
Philips wins FDA clearance for next-gen digital pathology system
Philips announced today that it received FDA clearance for its latest pathology solution, the IntelliSite Pathology Solution 5.1. IntelliSite Pathology supports remote collaboration and teamwork, aiding diagnosis, boosting productivity, addressing staff shortages and cutting costs. The comprehensive, scalable system integrates hardware, software, storage, analysis and enterprise-wide connectivity. It provides pathologists with fully integrated, end-to-end workflows […]
