Suffers' Lose Sleep After Philips' Recall Of Sleep Apnea Machine: WSJ

Millions of Koninklijke Philips NV's PHG CPAP machines and ventilators are under a recall posing severe health problems, as many people are having difficulties getting replacements.
FDA handed down its Class I label, the most severe recall classification, for the recall.
There is noise-canceling foam inside the machines that can break down, and those particles and gases from the foam can cause issues if inhaled.
The prices of competing products from ResMed Inc RMD have climbed and become scarce just two months after the recall, the Wall Street Journal reported.
Philips has estimated that it will take about a year to repair the machines. Meanwhile, the price of ResMed's model has increased over 50% to $598.00 from $974.99 since the recall.
Amid the shortage, some patients have resorted to buying used products while others, forced to address the safety concern themselves, continued to use the faulty product, the Journal reported.
Philips' sleep division has devoted its entire manufacturing capacity to make replacement machines and is not taking any new orders.
In its Q2 earnings release, Philips added €250 million to a prior provision in relation to the recall.
ResMed, Monday, launched AirSense 11, its next-generation PAP (positive airway pressure) device for sleep apnea.
Price Action: RMD shares are up 1.85% at $280.18, while PHG shares are down 0.13% at $44.39 during the market session on the last check Monday.
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