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Medical device maker Philips announced a nearly $1.1 billion personal injury settlement over some of its CPAP, ventilators and BiPAP machines that were at the heart of a massive recall in 2021. The company also agreed to pay $25 million in a medical monitoring settlement.
Medical device maker Philips announced a nearly $1.1 billion personal injury settlement over some of its CPAP, ventilators and BiPAP machines that were at the heart of a massive recall in 2021. The company also agreed to pay $25 million in a medical monitoring settlement.
Thousands of people with sleep apnea and other illnesses had sued the company, claiming flawed devices were harming them.
Philips shares got a huge boost today despite first-quarter results that fell shy of the consensus forecast on Wall Street.
The Dutch medical device maker said it has agreed to pay $1.1 billion to settle personal injury claims related to its recalled sleep apnea machines