Philips Provides Update on Sleep Apnea Devices, and Shares Rise; Maintaining FVE

Narrow-moat Philips' shares were up more than 5% at the time of writing after the company gave an update on the product recall situation for its sleep apnea installed base. Philips, together with a third-party medical panel, has conducted further testing on its first-generation DreamStation devices (the majority of the affected installed base) and has concluded that if ozone is not used for cleaning, then the level of exposure to volatile organic compounds when using these devices should not result in any long-term health consequences for patients.