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.

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

Philips (PHG) receives a warning letter from the FDA in respect of a manufacturing plant in China regarding faults in the manufacturing of CT systems.

Philips (PHG) Receives FDA Warning Letter Regarding CT Systems

Philips (PHG) announces the FDA clearance for its Zenition 30 mobile C-arm, which is intended to aid in image-guided procedures at a relatively affordable cost.

Philips' (PHG) Zenition 30 to Boost Image-Guided Surgeries

Philips (PHG) announces a consent decree with the U.S. government and FDA over Respironics' business recalls.

Philips (PHG) Agrees to a Consent Decree With DOJ and FDA

Philips climbed on Wednesday morning after details of an agreement with the US over its sale of potentially dangerous breathing devices in 2021 were revealed. Millions of the devices have already been recalled over fears that foam used to reduce noise could break down and become toxic and potentially cause cancer.

Philips climbs as US deal on sleep apnea machines revealed

Philips announced the main terms of an agreement it reached in January with the U.S. government on its new sleep apnea machines, sending shares in the Dutch health technology firm up almost 3% on Wednesday.

Philips announces terms of US government deal on sleep apnea machines

Philips reiterated its financial outlook on Wednesday after finalizing a consent degree with the U.S. Department of Justice and Food and Drug Administration that will prevent it from selling new respiratory care devices in the U.S. but will allow for exports.

Philips shares climb after finalizing pact with U.S. over device sales

Philips said it reached a final agreement with the U.S. Justice Department and Food and Drug Administration on terms of a settlement related its Respironics ventilators, and backed its medium-term guidance.

Philips Reaches Final Pact With U.S. Govt. on Ventilator Recall

April 10, 2024 Philips confirms that further to communicating the main terms of the Philips Respironics consent decree on January 29, 2024, Philips' subsidiaries Philips Holding USA and Philips Respironics have now reached final agreement on the consent decree with the DOJ and FDA.  As previously stated: The consent decree primarily focuses on Philips Respironics' business operations in the US.

Philips Respironics reaches agreement with US government on a consent decree creating a clear path forward

A U.S. federal court issued a decree to restrict the production and sale of Philips' new sleep apnea machines at several facilities in the country, the Food and Drug Administration said on Tuesday.

US federal court orders to restrict production of Philips' sleep apnea devices

Philips (PHG) partners with smartQare to integrate the latter's viQtor solution, boosting its patient monitoring solutions portfolio.

Philips (PHG) Boosts Patient Monitoring With smartQare Deal

April 4, 2024  Mom & Baby Mobile Health Centers offering ultrasound screenings to expectant moms in Phoenix, Tucson, and Washington, DC

Philips Foundation and March of Dimes partner to improve prenatal care access in underserved communities, helping address US maternal and infant health challenges

Campaign encourages shavers and groomers to embrace personal growth and shape their true selves with Philips Norelco  CAMBRIDGE, Mass. , April 2, 2024 /PRNewswire/ --  Royal Philips  (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced a partnership with acclaimed actor and facial hair enthusiast Adam Scott.

Philips Norelco Taps Actor Adam Scott for New Campaign

March 22, 2024 Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), today announced it has convened the Annual General Meeting of Shareholders (AGM) 2024 and published the agenda with explanatory notes. As previously announced, the agenda includes: Proposals to re-appoint Chairman Feike Sijbesma (Dutch, 1959) and Peter Löscher (Austrian, 1957) as members of the Supervisory Board, with effect from May 7, 2024.

Philips convenes the Annual General Meeting of Shareholders 2024

Medical device manufacturer Philips is betting on innovation as artificial intelligence (AI) transforms the health care industry, its chief executive told AFP in an interview on Tuesday, as the company looks to turn the page on a massive recall of defective sleep respirators.

Philips looks to AI as seeks to turn the page on defective respirators

March 19, 2024    Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that it is one of the leading patent applicants at the European Patent Office (EPO). Building on more than 130 years of innovation, Philips' extensive global R&D programs and collaborations position the company at the forefront of health technology innovation.

Leading in health technology innovation: Philips one of the top patent applicants at European Patent Office

Philips (PHG) adds Philips One for Kids toothbrush into its Sonicare family, boosting its Personal Health business.

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