"Philips Faces $400M Loss as CPAP Sales Halted Over Safety Concerns"
Originally Published 1 year ago — by Newser
Philips has agreed to halt sales of its CPAP devices in the US under a tentative agreement with regulators, following a global recall of over 5 million machines due to potential health risks from degraded foam. The company could face a $400 million cost as it works to address the issue and meet corrective actions outlined by the FDA. While it will continue servicing previously sold machines, it cannot sell new ones until compliance is achieved. The FDA has warned of potential health risks associated with the foam degradation, and the company still faces personal injury lawsuits related to the devices.