4acespoker| Philips rose more than 35% before the market, reaching a $1.1 billion settlement over ventilator cancer allegations

Gelonghui April 29| Philips (PHG4acespoker.US) U.S. stocks rose more than 35% to $28.52 before the session. Philips announced a settlement regarding the carcinogenic risk of ventilators and will pay US$1.1 billion for it, but the company does not admit any fault or liability. In addition, the company said that it has reached a 540 million euro product liability insurance compensation agreement with insurance companies, which is expected to be recorded in the second quarter of this year. Earlier in June 2021, Philips announced a recall of millions of sleep apnea and ventilators, saying patients using these devices may inhale foam particles and gases that degrade and release harmful and potentially carcinogenic foam particles.4acespoker; The incident continued to ferment. In 2021 alone, the number of breathing equipment recalled by Philips worldwide reached 5.2 million units, much higher than the original estimate of 3 million to 4 million units.