Philips has reached an agreement with plaintiffs, after mediation by a U.S. judge, to settle U.S. litigation involving its subsidiary Respironics, under which the latter has agreed to pay $1.1 billion.

This sum will be drawn from the Dutch medical technology group's cash generation, and should be disbursed in 2025. In this respect, a provision of 982 million euros has been booked in the first quarter of 2024.

Philips has also reached an agreement with insurers to receive 540 million euros from them to cover claims related to product recalls, income which will be booked in the second quarter and received during 2024.

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