Philips recently announced that it has incorporated a super-resolution contrast-enhanced ultrasound (CEUS) application into its EPIQ Elite ultrasound system. The addition of microvascular imaging super-resolution CEUS enables three times better spatial resolution than previous models, according to Philips. It could potentially improve the diagnostic accuracy for assessing lesion blood flow in cancer patients. Understanding blood […]
Philips
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 prices $546.2M offering to repay existing debt
Philips announced today that it priced a fixed-rate notes offering worth $546.2 million (€500 million). Amsterdam-based Philips priced the notes (due 2031) under its European medium-term note (EMTN) program. The issue of the notes has a debt-neutral effect. Philips said in a news release that it intends to use the net proceeds to repay debt. […]
What are the largest medical device companies?
Medtronic, Johnson & Johnson MedTech and Siemens Healthineers again lead the Medtech Big 100 list of largest medical device companies. However, there is so much more to Medical Design & Outsourcing and MassDevice‘s 2023 edition of the Medtech Big 100 report. We pulled thousands of data points to provide information on annual revenue, R&D spending, […]
Philips says extended ECG Holter monitoring can improve diagnostic results
Philips today shared data supporting the use of its extended-wear Holter electrocardiography (ECG) monitor. The Amsterdam-based company presented the findings at the European Society of Cardiology Congress in Amsterdam. Results showed how specific diagnostic referral codes can potentially help to pre-determine how long a cardiology patient should receive mobile telemetry, or Holter monitoring, to monitor […]
Philips warns on potential unintended radiation with imaging systems
Philips issued an urgent field safety notice in Europe regarding a potential issue with some of its imaging systems. The issue pertains to the wired and wireless foot switches used with the Philips Allura Xper, Allura Centron, Azurion and the MultiDiagnost-Eleva systems. It could lead to unintended radiation, according to the notice filed in Europe […]
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 […]
ResMed shares near 52-week low after disappointing results
ResMed shares are down on fourth-quarter sales and profits that missed Wall Street’s expectations. The device manufacturer’s stock was trading around $183.58 per share near noon, approaching the 52-week low of $181.50. The stock hasn’t closed below $188 since April 2021, when competitor Philips initiated a recall of millions of continuous positive airway pressure (CPAP) […]
Philips inks in-house virtual care collaboration with CoxHealth
Philips announced today that it entered into a virtual care collaboration with CoxHealth. CoxHealth, a U.S. not-for-profit healthcare provider, sought out Philips to implement virtual care through its hospital network. The company wanted a solution staffed entirely by its own employees that expanded beyond the intensive care unit. It also hoped for something that allowed […]
Philips stock down on ‘lumpy’ order intake in Q2
Philips today reported 9% year-over-year sales growth in its second quarter, but investors appeared to sour on an 8% decline in comparable order intake. The Dutch medtech giant’s stock closed down more than 5% at €19.63 apiece on the Amsterdam stock exchange today. PHG shares were also down more than 5% at 21.84 apiece on […]