NOS News•today, 07:38
Philips has settled in the United States for $1.1 billion over problems with sleep apnea devices. The company reports this when announcing its first quarter results.
These are patients who had claimed compensation for personal injury in the United States. Those patients say they have become ill from using the sleep apnea devices. In addition, it concerns patients who demand money for the costs of possible future health problems.
Philips emphasizes that it does not admit any guilt in this regard. The company does not admit that the medical problems are a result of the use of the sleep apnea devices. Philips opted for this settlement to put an end to all uncertainty surrounding the consequences of ongoing legal cases in the United States.
Loss
It means for the company’s finances that they had to set aside 982 million euros this quarter. Philips is therefore making a loss this quarter of 998 million euros.
In June 2021, Philips recalled sleep apnea devices due to potential health risks. Foam particles in the devices could become loose and patients could inhale them.
Last year, Philips reached a settlement in the United States, but it concerned economic damages that customers claimed because the device they had purchased did not meet their requirements. The company set aside 575 million euros for this purpose.
