How will Philips’ recall of sleep apnea equipment affect consumers?
Physicians are trying to find replacements for the expanding number of individuals who use them after a widespread recall of Philips (PHG.AS) respiration machines in 2021 due to a risk of serious damage. The 5.5 million gadgets, which include manual ventilators and non-invasive breathing devices intended to treat sleep apnea, a disorder characterised by brief […]
CEO of Philips retires amidst a huge recall which is underway
The Dutch health technology giant Philips (PHG.AS) announced on Tuesday that Frans van Houten, the Chief Executive will depart the company in October. This comes after a significant product recall reduced Philips’ market value by more than half during the previous year. Philips outed that Roy Jakobs, who is in charge of the group’s Connected […]
Philips expects summer recovery from supply chain woes
Dutch health technology company Philips said that it expects sales to recover strongly in the second half of the year. In the coming months, a steep decline due to global shortage of parts is likely to persist. Earlier this month they had warned that supply chain woes would hit their profit. A ventilator recall needed […]