AMSTERDAM—Dutch health technology company Philips said on Wednesday independent tests on its respiratory devices involved in a major global recall had shown limited health risks.
The company rocked investors last year by recalling millions of breathing devices and ventilators used to treat sleep apnea, because foam used to dampen noise from the devices might degrade and become toxic, carrying potential cancer risks.
Fears of large litigation bills have since wiped 70 percent off the company’s market value. Philips shares were up 3.5 percent on Wednesday morning.
“We can state that the whole product complies with safety norms. That is very encouraging news,” Chief Executive Roy Jakobs told Reuters….