Royal Philips

Koninklijke Philips NV is a technology company, which engages in the healthcare, lighting, and consumer well-being markets. It operates through the following segments: Diagnosis and Treatment businesses; Connected Care businesses; Personal Health businesses; and Other. The Diagnosis and Treatment businesses segment consists systems, smart devices, software and services, powered by AI-enabled informatics-that support precision diagnoses and minimally invasive procedures in therapeutic areas such as cardiology, peripheral vascular, neurology, surgery, and oncology. The Connected Care businesses segment consists Hospital Patient Monitoring, Emergency Care, Sleep & Respiratory Care and Connected Care Informatics. The Personal Health businesses segment consists of Oral Healthcare, Personal Care,Mother and Child Care. The Other segment reports on the items Innovation & Strategy, IP Royalties, Central costs, and other small items. The company was founded by Anton Frederik Philips and Gerard Leonard Frederik Philips in 1891 and is headquartered in Amsterdam, the Netherlands.

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Koninklijke Philips NV is a technology company, which engages in the healthcare, lighting, and consumer well-being markets. It operates through the following segments: Diagnosis and Treatment; Connected Care; Personal Health; and Other. The Diagnosis and Treatment segment consists of systems, smart devices, software, and services, powered by AI-enabled solutions that support precision diagnoses and minimally invasive treatment in therapeutic areas such as cardiology, peripheral vascular, neurology, surgery, and oncology. The Connected Care segment focuses on Hospital Patient Monitoring, Sleep and Respiratory Care, and Enterprise Informatics. The Personal Health segment represents Oral Healthcare business unit, Personal Care business unit, and Mother and Child Care business unit. The Other segment is involved on the Innovation and Strategy, IP Royalties, Central costs, and other small items. The company was founded by Anton Frederik Philips and Gerard Leonard Frederik Philips in 1891 and is headquartered in Amsterdam, the Netherlands.

LONDON--(BUSINESS WIRE)--Martingale Risk, a specialist in global securities loss recovery, is originating a group action in the Netherlands against Philips on behalf of institutional investors, together with Grant & Eisenhofer as the Global Counsel and Old Haven Funding LLC as the Funder. As reported by the U.S. regulator, the Food and Drug Administration (FDA), starting from at least October 2015, Philips was notified by customer complaints regarding its respiratory devices (sleep therapy.

Martingale Risk – Philips Shareholders Group Action to be Filed in the Netherlands

May 22, 2024 Philips wearable ePatch and AI analytics platform help detect potentially life-threatening irregular heartbeats The solution helps University Hospital Vall d'Hebron achieve reduced average length of stay, relieve emergency room pressure, and reduce costs Amsterdam, the Netherlands, and Madrid, Spain – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced the successful nationwide rollout of its ambulatory cardiac monitoring service in Spain using its unique wearable ePatch paired with its AI-driven Cardiologs analytics platform. 14 Spanish healthcare providers across the country are now using the company's ePatch extended wear Holter monitors to detect life-threatening heart arrhythmias such as atrial fibrillation (AF).

Philips ePatch and AI analytics platform rolled out to 14 hospitals across Spain to monitor heart patients

May 21, 2024 Progress towards Philips Foundation's 2030 target of 100 million lives improved in underserved communities each year 17 new initiatives with strategic partners and 4 new investments in health tech enterprises that leverage Philips' expertise in early screening and diagnosis Strategy focused on building local ecosystems that provide reliable, sustainable solutions to healthcare delivery issues in underserved communities Amsterdam, the Netherlands – Philips Foundation , with its mission to provide access to quality healthcare for 100 million people a year in underserved communities by 2030, today announced the publication of its 2023 Annual Report . Philips Foundation and its partners provided access to quality healthcare for over 28 million people in 2023 – an increase demonstrating the foundation's progress towards its 2030 target.

Philips Foundation 2023 Annual Report: unlocking quality medical services for over 28 million people in underserved communities

Philips' (PHG) AI-powered cardiac monitoring solutions demonstrate significantly lower re-admissions and a higher rate of survival in the retrospective study evaluating it in stroke patients.

Philips' (PHG) Reports Positive AI-Powered Cardiac Study Data

May 17, 2024 Three studies demonstrate how Philips MCOT wearable ambulatory monitoring ECG and proprietary AI models applied to ECG digital biomarkers can help to improve diagnosis, reduce readmissions, and lower costs Amsterdam, the Netherlands and Boston, USA –  Royal Philips (NYSE: PHG, AEX: PHIA) a global leader in health technology, is presenting new retrospective study results demonstrating the clinical and economic benefits of Philips' AI-powered cardiac care solutions at the Heart Rhythm Annual Meeting in Boston (May 16-19). With cardiovascular disease on the rise, clinicians and health systems continue to look for ways to deliver high-quality care that is both timely and cost-effective.

Philips presents study results at Heart Rhythm Annual Meeting demonstrating benefits of its AI-powered cardiac monitoring solutions

May 15, 2024 Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), today announced that the exchange ratio for the dividend for the year 2023 is 1 new common share for every 29.2684 existing common shares. This ratio was based on the volume weighted average price on Euronext Amsterdam of May 9, 10 and 13, 2024, of EUR 24.8481 and was calculated in a manner that the gross dividend in shares will be approximately equal to EUR 0.85.

Philips announces exchange ratio for 2023 dividend

Philips' (PHG) software update for Trilogy Evo ventilators is set to mitigate a possible power malfunction and gets FDA Class I recall identification, as it may cause serious harm.

Philips' (PHG) Gets FDA Recall for Trilogy Ventilator Glitch

Haemonetics

Investors interested in stocks from the Medical - Products sector have probably already heard of Royal Philips (PHG) and Haemonetics (HAE). But which of these two stocks presents investors with the better value opportunity right now?

PHG vs. HAE: Which Stock Is the Better Value Option?

May 7, 2024 Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), today announced that its shareholders approved all proposals at the Annual General Meeting of Shareholders (AGM) 2024, including: The re-appointment of Chairman Feike Sijbesma and Peter Löscher as members of the Supervisory Board. The appointment of Benoît Ribadeau-Dumas as member of the Supervisory Board.

Philips shareholders approve all proposals at the AGM 2024

Philips Avent introduced Share the Care brand positioning in March 2024 , encouraging families, friends and communities to better support moms so they can prioritize their well-being and self-care. CAMBRIDGE, Mass.

Philips Avent Supports March of Dimes' It Starts With Mom Initiative to Help New Moms Access Resources to Prioritize their Health and Well-being

Insider traders often operate on undisclosed information, giving them an unfair edge in forecasting stock market movements.

Insider trading? Health subcommittee member buys stock before lawsuit settlement

Philips' (PHG) first-quarter results benefit from strong momentum across the Diagnosis & Treatment and Personal Health businesses. However, softness in the Connected Care business is a concern.

Philips (PHG) Q1 Earnings Beat Estimates, Revenues Fall Y/Y

April 30, 2024 Philips AI-enabled diagnostic and experiential technologies help put patients at ease while empowering staff with faster, high-quality scans and increased diagnostic confidence Amsterdam, the Netherlands, and Miami, US – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, and Nicklaus Children's Health System, a nationally recognized leader in pediatric care, today announced a 10-year long-term strategic collaboration aimed at enhancing the patient and staff experience, enhancing outcomes and driving innovation in pediatric care. Serving over 500,000 patients a year, Nicklaus Children's will adopt Philips technologies such as the Ingenia Ambition X MR and EPIQ CVx ultrasound, with AI-enabled radiology workflow solutions to reduce exam times and the need for rescans, while increasing diagnostic confidence, resulting in faster diagnosis and treatment for patients.

Nicklaus Children's Health System, Philips to provide innovative patient and staff experience, helping to enhance outcomes for the smallest of patients

Koninklijke Philips (PHG) shares traded in the U.S. soared nearly 30% Monday morning after the Dutch medical devices giant agreed to a $1.1 billion settlement to pay out personal injury cases in the U.S. linked to the recall of some of its sleep apnea devices.

Philips Stock Soars as Company Reaches $1.1B Settlement in US for Sleep Apnea Devices

Philips Respironics announced that it agreed to pay over a billion dollars to settle claims stemming from the 2021 U.S. recall of its sleep therapy devices.

Philips pays $1.1B to settle sleep apnea device suits

Koninklijke Philips N.V. (NYSE:PHG ) Q1 2024 Earnings Conference Call April 29, 2024 4:00 AM ET Company Participants Leandro Mazzoni - Head of Investor Relations Roy Jakobs - Chief Executive Officer Abhijit Bhattacharya - Chief Financial Officer Conference Call Participants Richard Felton - Goldman Sachs Hassan Al-Wakeel - Barclays David Adlington - JPMorgan Veronika Dubajova - Citi Hugo Solvet - Exane BNP Paribas Graham Doyle - UBS Julien Dormois - Jefferies Julien Ouaddour - Bank of America Robert Davies - Morgan Stanley Sezgi Ozener - HSBC Falko Friedrichs - Deutsche Bank Edward Ridley-Day - Redburn Atlantic Operator Welcome to the Royal Philips First Quarter 2024 Results Conference Call, on Monday, April 29, 2024.

Koninklijke Philips N.V. (PHG) Q1 2024 Earnings Call Transcript

Koninklijke Philips (NYSE: PHG ) stock is climbing higher on Monday after the company announced a settlement connected to its recall of sleep apnea product Respironics. Koninklijke Philips has agreed to a $1.1 billion payment to settle the personal injury claims made against it via the lawsuit.

Why Is Koninklijke Philips (PHG) Stock Up 41% Today?

Dutch multinational Philips soared a remarkable 43% on Monday after settling a protracted class-action lawsuit in the US over allegedly faulty sleep apnea devices. Millions of the devices were recalled over fears that the polyester-based polyurethane foam used to reduce noise could break down and become toxic, potentially causing cancer.

Philips soars after settling sleep apnea class action for $1.1bn

The stock price of medical equipment maker Philips (NYSE: PHG) is experiencing bullish sentiments as the company strives to overcome regulatory concerns that have plagued it.

AI sets Philips' stock price for next 12 months

Shares of Royal Philips NV soared on Monday, after the Dutch health-technology group announced a much lower-than-expected U.S. settlement over its Respironics ventilators.

Philips shares soar 30% after U.S. litigation settlement far lower than feared

Philips shares soared Monday after the company agreed a $1.1 billion settlement in a U.S. case linked to the recall of some of its sleep apnea devices.

Philips shares rocket 33% as firm settles U.S. respiratory device case

Dutch medical devices maker Philips announced on Monday that it has agreed to a $1.1 billion settlement regarding personal injury lawsuits in the United States. This agreement relates to the global recall of ventilators used for treating sleep apnea.

Philips agrees to $1.1 billion settlement over U.S. ventilator recall

Philips has reached a $1 billion settlement in the U.S. related its Respironics ventilators, and backed its full-year guidance.

Philips Settles U.S. Ventilator Claims

Dutch medical devices maker Philips said on Monday it had agreed to pay $1.1 billion in a settlement of personal injury cases in the United States related to the global recall of ventilators used to treat sleep apnea.

Philips pays $1.1 bln in U.S. settlement over ventilator recall

April 29, 2024 First-quarter highlights Group sales amounted to EUR 4.1 billion, with comparable sales growth of 2.4% Comparable order intake -3.8%, mainly due to China USD 1.1 billion Respironics litigation settlement reached in the US (provision recognized of EUR 982 million) Income from operations EUR -824 million, including above provision Adjusted EBITA margin of 9.4% of sales Free cash outflow of EUR 336 million EUR 540 million agreement reached with insurers for Respironics recall-related product liability claims Roy Jakobs, CEO of Royal Philips: “We started the year in line with our plan, with order intake growth outside China turning positive and strong margin improvement. Supported by key innovation launches and strong focus on our execution priorities, we remain confident in our performance improvement plan for 2024.

Philips delivers first-quarter results in line with 2024 performance improvement plan; Resolves the Respironics personal injury and medical monitoring litigation in the US for USD 1.1 billion

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