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company

Philips

Dutch multinational health technology company (formerly Royal Philips Electronics), now focused on diagnostic imaging, image-guided therapy, patient monitoring, and connected care devices after exiting consumer electronics.

Track Record

In June 2021, Philips Respironics recalled roughly 15 million CPAP, BiPAP, and mechanical ventilator devices worldwide after discovering that sound-abatement foam inside the machines could degrade and release toxic particles and gases that users could inhale or ingest. The recall triggered mass litigation (MDL 3014) consolidated in the Western District of Pennsylvania, resulting in a $479 million economic-loss settlement (September 2023) and a $1.1 billion personal-injury/medical-monitoring settlement (March 2024), both reached without Philips admitting fault or liability. In 2024, a US federal court entered a consent decree against Philips Respironics and named Royal Philips CEO Roy Jakobs as a defendant, restricting the company's production and sale of new devices at its Pennsylvania and California facilities until FDA compliance requirements are met.