Tag: Philips
In brief: Feds convict CEO, Australia sues Philips, CMS awards new RAC
June 6, 2025HME News Staff
WASHINGTON – Federal authorities have convicted Gary Cox, 79, CEO of Power Mobility Doctor Rx (DMERx), for orchestrating a $1 billion Medicare fraud scheme involving false doctor orders for medically unnecessary equipment like braces and treatments. Cox and his co-conspirators misled seniors into providing personal information through deceptive advertising and offshore call centers, then used DMERx—a digital platform—to create fraudulent prescriptions. These orders were exchanged...
Australia’s regulatory authority sues Philips over CPAP devices
June 5, 2025HME News Staff
CANBERRA, Australia – The Therapeutic Goods Administration (TGA), Australia's regulatory authority for therapeutic goods, has commenced proceedings in the Federal Court of Australia against Philips Electronics Australia Limited (PEAL) for the alleged unlawful supply of medical devices that did not meet Australian safety and performance requirements. These included devices used by people at home who suffer from sleep apnea and devices used by patients who need help breathing. The devices,...
Philips executes offering
May 19, 2025HME News Staff
AMSTERDAM – Royal Philips has announced the successful pricing of its offering of EUR 500 million fixed rate notes due 2030 and EUR 500 million fixed rate notes due 2035 under its European Medium Term Note program. The net proceeds will be used for general corporate purposes, the repayment of 2026 debt maturities and to refinance or finance any eligible projects as defined in Philips’ Sustainable Finance Framework. The issue price for the notes due 2030 is 99.859% with a coupon of 3.25%,...
Philips works to keep tariff impact in check
May 9, 2025Liz Beaulieu, Editor
AMSTERDAM – Philips expects a net tariff impact of EUR 250 million to EUR 300 million, even as it accelerates substantial mitigation actions, company officials said during a recent conference call to discuss first quarter financial results.
President and CEO Roy Jakobs explained that Philips has taken proactive steps for the past several years to build a more resilient supply chain, including diversifying and regionalizing key operations, especially in China, well ahead of the tariffs...
Philips sees ‘encouraging start’ to year
May 6, 2025HME News Staff
AMSTERDAM – Philips has reported group sales of EUR 4.1 billion for the first quarter of 2025, a 2% decline, mainly due to China.
The company reported comparable order intake increased 2%, primarily driven by strong performance in North America, offsetting a decline in China, and income from operations increased to EUR 154 million. Adjusted EBITDA margin declined to 80 bps to 8.6% of sales.
“We remain dedicated to serving our customers, driving profitable growth and...
In brief: AdaptHealth ‘stays the course,’ Philips sees ‘encouraging start,’ DOJ sues insurers
May 6, 2025HME News Staff
CONSHOHOCKEN, Pa. – AdaptHealth reported revenue of $777.9 million for the first quarter of 2025, a decrease of 1.8% compared to the same period last year.
Net loss attributable to AdaptHealth Corp. was $7.2 million compared to net loss of $2.1 million and adjusted EBITDA was $127.9 million compared to $158.5 million.
“Amid elevated uncertainty in the external environment, we at AdaptHealth have stayed the course, with a relentless focus on improving our business and...
Philips to lay off warehouse workers
April 8, 2025HME News Staff
PITTSBURGH – Philips Respironics will lay off 14 workers at a facility in Westmoreland County starting May 23, according to a Worker Adjustment and Retraining Notification Act (WARN) notice filed by the company. The positions being eliminated include warehouse operators, managers and coordinators, and an analyst. “We’re implementing this action in line with all local requirements and are supporting the impacted employees,” said Mario Fante, global external relations director,...
Encore integrates Nexus with cloud-based platforms
March 12, 2025HME News Staff
LIVINGSTON, Tenn. – Encore Healthcare has integrated its Nexus program with React Health, Mōvair and Philips cloud-based ventilator management platforms. These integrations mark the first of several integrations that will significantly reduce the workload for HME providers managing ventilator patients, allowing for streamlined compliance management, the company says. “Our mission at Encore Healthcare is to continuously innovate and drive better outcomes for patients with chronic respiratory...
Philips says ‘momentum’ continues for sleep business
February 28, 2025Liz Beaulieu, Editor
AMSTERDAM – With its recent clearance in France, the Sleep & Respiratory Care business at Philips can once again sell products in all countries except for the United States.
“If you talk about S&RC, indeed, the momentum is coming into that business again,” said Roy Jakobs, CEO, during a Feb. 19 conference call to discuss the company’s fourth quarter and full year financial results for 2024. “(It’s) driven by the return to the market outside of the U.S.,...
In brief: Philips improves orders, VGM & Synapse name new execs, GAMES joins ACMESA
February 21, 2025HME News Staff
AMSTERDAM – Philips reported sales of EUR 18 billion in 2024, comparable sales growth of 1% and EUR 5 billion in the fourth quarter, also comparable sales growth of 1%, despite a double-digit decline in China.
The company reported comparable order intake increased 1% in 2024 and 2% in the fourth quarter, and income from operations was EUR 529 million in 2024 and EUR 199 million in the fourth quarter.
“Despite double-digit declines in demand in both consumer and health...