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Oct 06, 2023

Philips provides update on Respironics recall

Philips’ first priority is the health and well-being of patients, both in terms of providing replacement devices and testing to seek more clarity on the safety of the sleep and respiratory care devices under the recall. We understand how important these sleep and respiratory care devices are to patients that use them.

Philips shares the same objective as the US Food and Drug Administration (FDA) and other regulators to ensure the highest standards of patient safety and quality in the delivery of healthcare. Philips remains committed to working closely with regulators across the world, as we continue to dedicate all necessary resources to ensure that patients receive remediated devices, and the test and research program is completed.

In the past two years Philips Respironics has been working cooperatively with the FDA on the test and research program and published regular test updates as agreed with the FDA.

Together with five independent, certified testing laboratories, Philips Respironics conducted extensive testing. Based on the results to date, Philips Respironics concluded that use of its sleep therapy devices are not expected to result in appreciable harm to health in patients.

Following ongoing communications with the FDA, Philips Respironics has agreed with the FDA’s recommendations to implement additional testing on certain sleep and respiratory care devices to supplement current test data.

The FDA stated that the testing is extensive and conducted with independent parties and expressed no concerns with the validity or objectivity of the testing. Philips Respironics is still in discussions with the FDA on the details of further testing.

Philips is committed to securing patient safety and quality in everything we do.

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being through meaningful innovation. Philips’ patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2022 sales of EUR 17.8 billion and employs approximately 71,500 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

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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.

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Steve Klink

Steve Klink

Philips Global Press Office

Tel: +31 6 10888824

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Leandro Mazzoni

Leandro Mazzoni

Philips Investor Relations

Tel: +31 20 59 77055

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