Morgan Stanley have just released a new update on this (potential impact from Philips)

Philips (covered by Robert Davies) reported 3Q23 results. Key takeaways:

(i) Philips stated remediation of >99% of sleep therapy devices completed while remediation of ventilators remains ongoing. To date, ~4.7mn devices have been remediated globally, of which 2.5mn are in the US. Philips expects to remediate up to 5.6mn devices, of which more than half are in the US

(ii) Philips stated “FDA has requested, and Philips Respironics has agreed to implement additional testing to supplement current test data. The FDA has not expressed concern with the validity or objectivity of the testing done to date. Philips Respironics is in discussions with the FDA on the details of further testing.” Of the information disclosed thus far, additional testing looks to be completed on Trilogy and OmniLab devices which represent ~5% of registered devices

(iii) Discussions with US Department of Justice on a proposed consent decree are ongoing

(iv) PHG has started serving new patients with sleep therapy devices outside the US