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. […]
Royal Philips
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 […]
Philips launches Visual Patient Avatar monitoring solution
Philips today announced the launch of its Visual Patient Avatar monitoring solution. Visual Patient Avatar conveys critical information about a patient’s condition through colors, movement and shapes, according to Philips. It all rests within an anesthesiologist’s or anesthetist’s peripheral field of view. Current operating room (OR) patient monitors display abundant patient data through vital signs […]
Philips takes steps to improve health monitoring, care coordination with open ecosystem
Philips today announced interoperability between its Philips Capsule and Philips Patient Information Center iX (PIC iX). Interoperability between the Capsule medical device information platform (MDIP) and PIC iX offers hospitals a first-of-its-kind, comprehensive patient overview. Philips aims to create an open patient monitoring ecosystem, bringing together disparate devices and systems on a single interface. In […]
Philips expands mobile C-arm offering with Zenition 30
Philips today announced the launch of its new Zenition 30 image-guided therapy mobile C-arm system 3000. Zenition 30 marks the latest addition to the company’s versatile Zenition mobile C-arm series. The Amsterdam-based company unveiled its Zenition 10 version earlier this year. The mobile-C arm X-ray systems provide live image guidance during a range of clinical […]
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 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 enrolls first patients in stroke diagnosis, treatment trial in France, U.S.
Philips announced today that its WE-TRUST clinical trial enrolled its first patients in France and the U.S. The trial aims to evaluate whether a direct-to-angio suite (DTAS) workflow can improve outcomes for early time-window stroke patients. It compares this method to the conventional approach that uses a diagnostic MR/CT scan before transfer to the angio […]
Philips to repurchase up to 7.1M shares in effort to cover long-term incentives
Philips announced that it plans to repurchase up to 7.1 million shares. The Amsterdam-based medtech giant initiated this repurchase effort to cover certain obligations arising from long-term incentive plans. At the current share price, 7.1 million shares equals approximately $148.3 million (€132 million). Philips said in its announcement last month that it plans to execute […]
Philips, Biotronik partner to expand care for out-of-hospital cardiology labs
Philips today announced a new partnership with Biotronik. The companies teamed up to expand the range of cardiovascular devices available for Philips SymphonySuite customers. Biotronik develops products and services for treating cardiovascular and endovascular diseases. Philips designed its SymphonySuite for opening and expanding cardiovascular office-based labs OBLs and ambulatory surgery centers (ASCs). The Amsterdam-based medtech […]
Philips warns on potential breakage issue with certain Allura, Azurion systems
Philips issued an urgent field safety notice regarding some of its Allura and Azurion image-guided therapy systems. Affected systems only include Allura and Azurion products with the FlexMove system installed. The notice warns of an issue that may occur due to forces applied during the movement of the C-Arc for Allura and Azurion. Philips’ image-guided […]