Philips Issues Software Fix For Some Ventilators To Fix Power Alarms Issues, Oxygen Display Errors
Portfolio Pulse from Vandana Singh
Philips has issued a software fix for its Trilogy ventilators to address safety issues, including false power loss alarms and oxygen display errors. The FDA has classified this recall as serious, with potential risks of injury or death. The recall affects 90,905 units globally, with nine injuries and one death reported. Philips' stock is down 1.11% following the announcement.
October 03, 2024 | 6:26 pm
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Philips has released a software update for its Trilogy ventilators to fix critical safety issues, including false power alarms and oxygen display errors. The FDA has classified this recall as serious, with potential risks of injury or death. The recall affects 90,905 units globally, with nine injuries and one death reported.
The recall of Philips' Trilogy ventilators due to critical safety issues is likely to negatively impact the stock price in the short term. The FDA's classification of the recall as serious, along with reported injuries and a death, heightens the potential negative sentiment. The stock is already down 1.11%, indicating market reaction to the news.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100