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.

Philips said it would do the additional testing the FDA is requiring. The company recently settled some claims regarding the recalled products but faces other legal challenges.

Why Shares of Koninklijke Philips Are Falling on Friday

The shares of Koninklijke Philips NV (NYSE:PHG) are plummeting in premarket trading this morning, as the Dutch healthcare tech company comes under fire from the U.S. Food and Drug Administration (FDA).

Philips Stock Sinks Amid FDA Accusations

Shares of Dutch health tech company Philips fell on Friday after the U.S. drug regulator deemed its handling of a major product recall inadequate.

Philips shares fall 8% after U.S. drug regulator deals fresh blow to sleep device recall

The U.S. Food and Drug Administration (FDA) remains unsatisfied with the status of a product recall by healthcare technology company Philips , the regulator said in an update.

FDA says it is not satisfied with Philips breathing device recall

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Philips faces significant challenges and controversies, including the results of a forced recall of ventilators and respiratory devices, leading to financial provisions and damage to its brand reputation. The company remains a major player in the healthcare equipment market, which should drive growth of mid-single digits through the end of the decade. It has ambitious financial targets and margin expansion goals, driven by its commitment to innovation and cost-efficiency improvements.

Philips: A Healthcare Leader But A Very Risky Investment

Philips (PHG) expands its mobile C-arm lineup with Zenition 30, which provides surgeons with more control and customization.

Philips (PHG) Expands Mobile C-arm Portfolio With Zenition 30

The in-app experience provides personalized, motivational voiceovers from Leroux and other special guests to give an extra push when needed most. STAMFORD, Conn.

Philips Sonicare Partners With Sydney Leroux To Motivate Listeners' Wellness Routines Through Spotify

September 13, 2023 Offering surgeons greater flexibility, control, and personalization in C-arm operation and image acquisition, Philips' new Zenition 30 reduces dependency on technician support for a wide variety of minimally invasive procedures   Advanced imaging algorithms contribute to outstanding image quality and dose efficiency Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced the launch of Philips Image Guided Therapy Mobile C-arm System 3000 – Zenition 30 [1], the latest addition to the company's highly versatile Zenition mobile C-arm series. Mobile C-arms are X-ray systems that are brought into the operating room (OR) to provide live image guidance during a wide range of clinical procedures which include orthopedics, trauma, spine, pain management and other surgical procedures.

Philips extends its mobile C-arm range with Zenition 30, alleviating staff shortages by empowering surgeons with greater personalization and control

The Dutch financial markets watchdog on Monday said its public filings had been updated to reflect that Goldman Sachs held a large gross short position in healthcare equipment maker Philips on Aug. 14, counterbalancing a previously disclosed long position.

Goldman Sachs discloses short position in Philips after Dutch regulator review

CPAP sleep apnea machine maker Philips Respironics agreed to pay at least $479 million in a settlement over alleged health risks from toxic sound reducing foam, lawyers for the plaintiff announced Thursday.

CPAP maker Philips agrees to pay at least $479 million to users over recalled devices

Philips and some of its local units reached an agreement to resolve all economic loss claims in a US litigation related to the recall of certain sleep and respiratory care devices, the Dutch company announced on Thursday.

Dutch company Philips reaches U.S. settlement over respirators

September 7, 2023 Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA) announced today that the company and certain of its US subsidiaries, including Philips Respironics, have reached an agreement to resolve all economic loss claims in the US Multidistrict Litigation (MDL) related to Philips Respironics' voluntary recall of certain sleep and respiratory care devices. This settlement, which is expected to be submitted to the US District Court for the Western District of Pennsylvania later today, does not include or constitute any admission of liability, wrongdoing, or fault by any of the Philips parties.

Philips reaches resolution of US economic loss litigation

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, and the Emory University Nell Hodgson Woodruff School of Nursing have teamed up with other Georgia universities and local partners to deliver preventive and episodic care to temporary farmworkers and their children in Southwest Georgia as part of Emory's Farm Worker Family Health Program (FWFHP). Due to the nature of their work, access to and continuity of health care is a major challe.

Philips, Emory School of Nursing and Partners Team up to Support Farm Worker Family Health Program and Clinic

August 30, 2023 Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced the successful pricing of its issue of EUR 500 million fixed rate notes due 2031 (the “Notes”) under its European Medium Term Note (EMTN) program. The issue of the Notes will have a debt-neutral effect.

Philips successfully prices offering of Notes for EUR 500 million to be used for repayment of existing debt, resulting in a debt-neutral effect

August 24, 2023 Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today highlighted how it integrates AI in cardiac ultrasound and across cardiac care to help improve clinical confidence and increase efficiency. Center-stage at the European Society of Cardiology ( ESC , Aug. 25-28, Amsterdam) Congress is the portable Philips Ultrasound Compact System 5500 CV , which includes an AI-powered automation tool (the automated strain quantification) to assess the function of the heart's left ventricle, a key indicator of heart health.

Philips integrates AI in cardiac ultrasound and across cardiac care at ESC 2023

The medical technology company continues to recover from a very difficult period involving product recalls, sluggish growth, and soaring costs. Investors are hoping the investment by one of Europe's leading industrial families will mark a turning point in Philips' fortunes

Why Shares in Philips Soared This Week

The U.S. Food and Drug Administration (FDA) on Monday classified the recall of Philips' respiratory machines as its most serious type, as their use could cause serious injuries or death.

US FDA identifies recall of Philips' respiratory devices as most serious

Italy's Agnelli family has acquired a 15-percent stake in Dutch medical technology firm Philips, the latest move into the health sector for the storied industrial dynasty, the two groups said Monday.

Agnelli family buys 15-percent stake in Philips

The European medical-technology supplier is starting to emerge from a torrid period marked by the recall of machines for treating sleep apnea.

Philips Can Recover From Its Health Crisis

Press Information August 14, 2023 E xor becomes a long-term investor in Philips supporting the company's strategy Amsterdam, the Netherlands – Royal Philips (NYSE: PHG; AEX: PHIA), a global leader in health technology, and Exor N.V. (AEX: EXO), the Netherlands-based diversified holding company, announce they have entered into a relationship agreement as a result of which Exor has bought a 15% shareholding in Philips.

Exor becomes a long-term investor in Philips supporting the company's strategy

Philips (PHG) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

All You Need to Know About Philips (PHG) Rating Upgrade to Strong Buy

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