Philips Ceases CPAP Sales in U.S. with $393M Provision

Philips Takes Strategic Step: Halts Sales of New Sleep-Therapy Devices in the U.S.

In a significant move, Philips announced on Monday its decision to cease the sales of new sleep-therapy devices in the United States. This action is part of a comprehensive settlement that has prompted the company to allocate a substantial provision of €363 million ($393 million).

The decision to halt sales of these devices underscores Philips’ commitment to resolving the ongoing issues related to its sleep-therapy products. By taking this step, the company aims to address concerns and ensure the safety and well-being of its customers.

As a result of this settlement, Philips will be able to focus on implementing necessary improvements and modifications to its sleep-therapy devices. This strategic move will allow the company to enhance the quality and reliability of its products, ensuring optimal performance and user satisfaction.

The decision to allocate a provision of €363 million ($393 million) demonstrates Philips’ dedication to resolving any potential issues and providing adequate support to affected customers. By taking financial responsibility, the company aims to alleviate any concerns and reinforce its commitment to product safety and customer satisfaction.

This settlement marks a significant milestone for Philips as it strives to regain trust and confidence in its sleep-therapy devices. The company remains committed to working closely with regulatory authorities and healthcare professionals to ensure the highest standards of product quality and patient care.

In conclusion, Philips’ decision to halt the sales of new sleep-therapy devices in the U.S. is a strategic step towards resolving ongoing concerns. By taking financial responsibility and focusing on necessary improvements, the company aims to enhance product quality and customer satisfaction. This settlement serves as a milestone in Philips’ journey towards rebuilding trust and reinforcing its commitment to delivering safe and reliable sleep-therapy solutions.