Philips sets aside €575mn for medical device litigation costs
Dutch health technology company Royal Philips has set aside €575mn to cover possible litigation costs in the US related to the recall of 5.5mn faulty medical devices.
Philips Respironics, a subsidiary, is facing lawsuits over a faulty component in devices that help people suffering from sleep apnoea to breathe. It has set aside more than €1.1bn to cover the costs of the recall.
This story originally appeared on: Financial Times - Author:John Aglionby
