Philips provides update on completed set of test results for first-generation DreamStation sleep therapy devices

Rhea-AI Summary

Royal Philips (NYSE: PHG) announced an update regarding its subsidiary Philips Respironics' program addressing health risks linked to the foam in CPAP, BiPAP, and mechanical ventilator devices. The company confirmed that testing for first-generation DreamStation devices is complete, revealing that approximately 68% of these devices were not exposed to ozone cleaning as per usage instructions. Independent laboratories and external medical experts conducted the assessments, providing a comprehensive review.

Positive

• Successful completion of tests for approximately 68% of first-generation DreamStation devices.
• Collaboration with five independent testing laboratories enhances credibility of results.

Negative

• Continued potential health risks associated with the polyester-based polyurethane foam.
• Ongoing scrutiny may affect consumer trust and brand reputation.

December 21, 2022

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG; AEX: PHIA) today provides an update on the comprehensive test and research program of its subsidiary Philips Respironics, following the voluntary recall notification/field safety notice* to address potential health risks related to the polyester-based polyurethane (PE-PUR) sound abatement foam in specific CPAP, BiPAP and mechanical ventilator devices.

Following previous updates in December 2021 and June 2022, additional test results and assessments have now been completed for the first-generation DreamStation devices (approximately 68% of the registered devices globally). These devices have not been exposed to ozone cleaning in line with the instructions for use.

The test and research program has been conducted together with five independent, certified testing laboratories, and the results have been reviewed and assessed by third-party qualified experts and Philips Respironics, as well as an external medical panel.

The full press release is available in the attached PDF and available here.

* Voluntary recall notification in the US/field safety notice for the rest of the world.
 

For media questions, please contact:

Steve Klink
Philips Global Press Office
Tel.: +31 6 10888824
E-mail: steve.klink@philips.com

Ben Zwirs
Philips Global Press Office
Tel.: +31 6 15213446
E-mail: ben.zwirs@philips.com

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2021 sales of EUR 17.2 billion and employs approximately 79,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

Forward-looking statements
This statement contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips’ organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.

Attachment

• Philips provides update on completed set of test results for first-generation DreamStation sleep therapy devices

FAQ

What is the latest update from Royal Philips regarding PHG related to device safety?

Royal Philips has completed tests on first-generation DreamStation devices, addressing health risks related to foam used in CPAP and BiPAP machines.

What percentage of DreamStation devices were tested by Philips?

Approximately 68% of first-generation DreamStation devices have been tested.

Who conducted the testing for Philips Respironics devices?

The testing was carried out by five independent, certified laboratories, along with external medical experts.

What are the implications of the foam issues on Philips stock (PHG)?

The ongoing safety concerns and potential health risks could adversely impact consumer trust and Philips' market reputation.

Is Philips still facing health risk issues with their CPAP devices?

Yes, Philips continues to address health risks related to the polyester-based polyurethane foam in their CPAP and BiPAP devices.