Tag: Philips
Purchase mix will shift when Philips re-enters market, survey finds
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 recall
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 ops
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 donation
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 cleaning
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 results
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 repurchase
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...
CPAP recall: When it comes to regaining trust, Philips has work to do
June 9, 2023Theresa Flaherty, Managing Editor
YARMOUTH, Maine – Two years after a recall wreaked havoc on the CPAP market, things have stabilized, but providers have mixed reviews on the way Philips handled the situation.
Philips first announced the recall of certain CPAP devices and ventilators in June 2021, sending providers on a rollercoaster of device shortages, confused patients, communication missteps and even recalls of reworked devices.
“Would I deal with Philips again?” said Tyler Riddle, president...
In brief: Optum makes play for Amedisys, FDA updates Philips report count
June 7, 2023HME News Staff
EDEN PRAIRIE, Minn., and BATON ROUGE, La. – Optum has submitted an all-cash proposal to buy Amedisys, despite Option Care Health announcing last month that it was merging with the home health and hospice provider.
“Amedisys’ commitment to quality and care innovation within the home, and the patient-first culture of its people, combined with Optum’s deep value-based care expertise can drive meaningful improvement in the health outcomes and experiences of more patients...