Philips Settles for $1.1 Billion Over Defective CPAP Machines

The settlement resolves numerous lawsuits linked to health risks from the company's respiratory devices.

Philips agreed to pay $1.1 billion to settle personal injury lawsuits related to its CPAP and other respiratory devices.
The settlement follows a massive recall of over 15 million devices since 2021 due to hazardous foam breakdown.
Philips denies fault but aims to end litigation uncertainty in the U.S.
Payments to affected users are expected in 2025, funded by Philips' cash flow.
The FDA has received significant complaints, including some linked to deaths, necessitating further investigation.