Philips said Thursday it had clinched a deal in the United States to settle claims related to a recall of sleep respirators that rocked the Dutch medical tech firm.Philips had previously announced in May that independent tests showed the sleep respirators at the centre of the massive recall were "unlikely" to harm patients.
AMSTERDAM (Reuters) -Philips said on Thursday it has reached a settlement to resolve one category of legal claims against it following a major recall of the Dutch medical equipment maker's sleep apnea and respiratory devices. The company said it has struck a deal to settle U.S. class action "economic loss" claims. Philips will make an initial payment of $479 million to a fund to cover payments claimants covered by the settlement, which will vary depending on the type of device they had.