Philips

Philips has reached a settlement in the United States following a long-running lawsuit involving a ventilator that allegedly caught fire five years ago, causing a patient to suffer burns. Although Philips denies all liability and maintains that the fire was caused by an external factor, the healthcare technology firm opted to settle the case for an undisclosed sum to avoid the escalating costs of US litigation. A company spokesperson described the situation as deeply unfortunate but stressed that this private dispute is entirely separate from the significant legal challenges Philips has faced since 2021 regarding its major recall of sleep apnoea devices.

Investors are seeking to hold Philips CEO Roy Jakobs personally liable as part of an ongoing legal battle over the company’s sleep apnea device recall. The move comes as shareholders in both the US and the Netherlands pursue compensation for significant losses following a drop in share value.

Philips has posted a 2025 profit of 897 million euros, driven by strong growth in the US and its personal health sector. CEO Roy Jakobs credited AI-led innovation for the turnaround, but the company’s new 1.5 billion euro savings plan indicates that further internal reorganisations are expected through 2028.