A file photo taken on April 16, 2007 shows the logo of the Dutch medical and consumer electronics giant Philips at its headquarters in Amsterdam. Dutch medical device maker Philips said on April 29, 2024, it had reached a $1.1 billion deal in the United States to settle lawsuits over faulty sleep machines in a case that has rocked the company/AFPPix: Dutch medical device maker Philips said Monday it had reached a $1.
Millions of devices were recalled over concerns that users were at risk of inhaling pieces of noise-cancelling foam and fears it could potentially cause cancer.Earlier this year, the company decided to halt new sales in the United States of the machines made by subsidiary Philips Respironics. “The remediation of the sleep therapy devices for patients is almost complete, and the test results to date show the use of these devices is not expected to result in appreciable harm to health,“ he said.
It reported on Monday a loss of 824 million euros in the first quarter of this year on sales totalling 4.1 billion euros.