Philips: deal reached in Respironics litigation

(CercleFinance.com) - Philips has reached an agreement with plaintiffs, after mediation by a US judge, to settle US litigation involving its subsidiary Respironics, by which the latter has agreed to pay $1.
1bn.

This sum will be drawn from the Dutch medical technology group's cash generation, and should be disbursed in 2025. In this respect, a provision of E982m has been booked in Q1 2024.

Philips has also reached an agreement with insurers to receive E540m from them to cover claims related to product recalls, income which will be booked in Q2 and received during 2024.


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