Tag: Philips
FDA requests more testing from Philips
October 6, 2023HME News Staff
WASHINGTON – The U.S. Food and Drug Administration has requested that Philips conduct additional testing on the health risks related to the sound abatement foam in certain recalled Philips ventilators and BiPAP and CPAP devices.
“We do not believe that the testing and analysis Philips has shared to date are adequate to fully evaluate the risks posed to users from the recalled devices,” the FDA stated. “Although Philips concluded that the exposure to foam particles...
In brief: Philips refutes claims, MA premiums remain stable, NCPA supports CVS lawsuitÂ
September 29, 2023HME News Staff
AMSTERDAM – Philips disagrees with “characterizations” in recent articles that the company knew for several years about problems with certain ventilators and sleep apnea devices.
ProPublica and the Pittsburgh Post-Gazette on Sept. 27 published an article saying that Philips knew about a dangerous breakdown inside its widely used ventilators and sleep apnea machines but waited years before recalling the devices in 2021.
In a statement, Philips said it had previously...
Purchase mix will shift when Philips re-enters market, survey findsÂ
September 18, 2023HME News Staff
NEW YORK – ResMed will likely lose CPAP device market share when Philips re-enters the market, according to the 3Q23 HME Sleep and Oxygen Survey from Needham.
Respondents to the survey indicated that if Philips re-entered the market and had unconstrained supply, they would return to purchasing 26% of their pre-recall CPAP device volume from Philips, though that’s down from 32% in a prior survey.
Additionally, when Philips re-enters the market, 8% of respondents...
Philips reaches settlement related to CPAP recallÂ
September 7, 2023HME News Staff
AMSTERDAM – Royal Philips has announced that the company and certain U.S. subsidiaries, including Philips Respironics, have reached an agreement to resolve all economic loss claims related to a voluntary recall of certain sleep and respiratory care devices.
The agreement, which is expected to be submitted to the U.S. District Court for the Western District of Pennsylvania later today and which is subject to that court’s approval, will provide predefined cash awards to all eligible...
In brief: Philips gets new investor, Quipt strengthens opsÂ
August 15, 2023HME News Staff
AMSTERDAM – Royal Philips has announced that Exor, a diversified holding company based in the Netherlands, has bought a 15% shareholding in the company.
As a result, Exor, which has a net asset value of about EUR 33 billion, will nominate one member to the company's Supervisory Board.
“Exor’s investment in Philips, their long-term outlook and increased focus on healthcare and technology, fit well with our strategy and substantial value creation potential,”...
In brief: GAO denies protest, OM reports growth, Numotion launches website
August 4, 2023HME News Staff
WASHINGTON – The Government Accountability Office has denied a protest by B&B Medical Services of six contracts for in-home oxygen and ventilator services awarded by the Department of Veterans Affairs to Apria Healthcare.
B&B argued that the VA’s solicitation did not properly reflect its requirements, the agency failed to consider a corporate transaction relevant to its evaluation of the awardee's responsibility and technical capability, Apria misrepresented the availability...
In brief: Philips testing, F&P changes, Medline donationÂ
July 26, 2023HME News Staff
AMSTERDAM – Testing on the impact of ozone cleaning on the Philips System One and DreamStation Go sleep therapy devices shows volatile organic compounds and particulate matter emissions related to foam degradation are within the applicable safety limits and are unlikely to result in appreciable harm to health in patients, the company announced July 24.
Additional visual assessments on used/returned first-generation DreamStation devices also confirmed the previously established low...
Philips provides additional testing results on devices treated with ozone cleaningÂ
July 25, 2023HME News Staff
AMSTERDAM – Testing on the impact of ozone cleaning on the Philips System One and DreamStation Go sleep therapy devices shows volatile organic compounds and particulate matter emissions related to foam degradation are within the applicable safety limits and are unlikely to result in appreciable harm to health in patients, the company announced July 24.
Additional visual assessments on used/returned first-generation DreamStation devices also confirmed the previously established low...
Philips sees improvements in financial resultsÂ
July 24, 2023HME News Staff
AMSTERDAM – Philips has reported 6% comparable sales growth for its Connected Care division in the second quarter, with double-digit growth in Monitoring, partly offset by a decline in Sleep & Respiratory Care.
Overall, the company reported group sales of EUR 4.5 billion and comparable sales growth of 9%.
“We are progressing to plan on our three priorities to enhance patient safety and quality, strengthen supply chain reliability, and simplify how we work, and I am pleased...
Philips announces share repurchaseÂ
June 19, 2023HME News Staff
AMSTERDAM – Royal Philips announced on June 14 that it will repurchase up to 7.1 million shares to cover certain of its obligations arising from its long-term incentive plans. At the current share price, the shares represent an amount of up to about EUR 132 million. The repurchases will be executed through one or more individual forward transactions, expected to be entered into in the second or third quarter of 2023, in accordance with the Market Abuse Regulation and within the limits of the...