Koninklijke Philips NV

Dutch health technology company Philips on Wednesday said it would start repairing and replacing millions of respiratory devices in the United States and most of its other markets this month, to address potential health risks caused by the machines.

The U.S. Food and Drug Administration on Tuesday classified the recent recall of some of Philips' ventilators as Class 1, or the most serious type of recall, saying the use of these devices may cause serious injuries or death.

Dutch health technology company Philips announced forecast-beating earnings and a share buyback on Monday but failed to allay investor concerns over the rising cost of a recall of its respiratory devices.

(The author is a Reuters Breakingviews columnist. The opinions expressed are their own.)

The U.S. Food and Drug Administration on Thursday classified the recall of Philips' breathing devices and ventilators as Class 1, or the most serious type of recall, saying the use of these devices may cause serious injuries or death.

A World Bank programme to help medical clinics in Ivory Coast procure equipment from General Electric and Philips could spur the cocoa-producing country's development into a regional medical hub, Prime Minister Patrick Achi said on Sunday.

(The author is a Reuters Breakingviews columnist. The opinions expressed are their own.)

Dutch medical equipment company Philips has recalled some breathing devices and ventilators because of a foam part that might degrade and become toxic, potentially causing cancer, it said on Monday.

Philips, the Dutch medical equipment company, on Monday said it would recall ventilators and "CPAP" breathing devices from the U.S. market due to a foam part that might degrade and be inhaled.

Philips posted a hefty jump in quarterly profit on Monday and nudged its expectations for 2021 higher as the coronavirus pandemic drives demand for its hospital equipment and personal health appliances.

Amsterdam's blue chip AEX index hit an all-time high of 703.29 on Wednesday, its first peak in two decades, as technology and Asia-oriented shares gained after a long retreat of bank and insurer valuations.

Philips NV will sell its household appliances arm to China's Hillhouse Capital for 3.7 billion euros ($4.37 billion), the Dutch company said on Thursday, as it focuses on healthcare equipment.

Singapore's sovereign wealth fund GIC has teamed up with Chinese asset manager CDH Investments to submit a joint offer for the $3.6 billion home appliance business of Philips, two sources told Reuters.

Dutch health technology company Philips on Monday said it expected a good start to 2021 as demand for the hospital equipment needed to treat COVID-19 patients remained strong.

Dutch health technology company Philips is set to buy U.S. cardiac diagnostics and monitoring firm BioTelemetry in a $2.8 billion deal that will strengthen its offering of remote care products.

Signify NV, the world's largest lighting company, said on Wednesday it expects sales to grow in the coming years after a long period of decline and a deep slump in 2020.

(This story from November 11 corrects surname of new CFO throughout, first name of former CFO in paragraph 6)

Health technology company Philips saw sales and profits jump in the third quarter, as the COVID-19 pandemic spurred demand for hospital equipment needed to help patients battling the disease.

Philips <PHG.AS> said the U.S. Department of Health had cancelled most of an order for 43,000 ventilators, leading the Dutch medical equipment maker to cut its 2020 earnings outlook.