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Benzinga
  • 2 years ago
Philips is halting sales of sleep apnea machines in the US, over 2 years after beginning a recall of certain breathing devices produced from 2009 to 2021. The recall was due to a risk that polyester-based polyurethane foam used in the devices could break down, and pieces could be inhaled or swallowed, posing various health risks. As part of an agreement with the FDA and DOJ, Philips will still service existing machines but not sell new ones until implementing the required changes. The agreement is expected to cost Philips nearly $400 million.
Transcript
00:00 It's Benzinga and here's what's on the block.
00:02 Philips is halting sales of sleep apnea machines in the U.S. over two years after beginning a
00:06 recall of certain breathing devices produced from 2009 to 2021. The recall was due to a risk that
00:12 polyester-based polyurethane foam used in the devices could break down and pieces could be
00:16 inhaled or swallowed, posing various health risks. As part of an agreement with the FDA and DOJ,
00:21 Philips will still service existing machines, but not sell new ones until
00:24 implementing required changes. For all things money, visit Benzinga.com.
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