AMSTERDAM — Electrical equipment maker Philips on Monday said the U.S. Department of Health had cancelled the bulk of an order for 43,000 hospital ventilators, leading it to cut its 2020 earnings outlook.
The Dutch company, which makes products ranging from electrical toothbrushes to hospital equipment, said it will now deliver just 12,300 hospital ventilators by the end of the year.
Philips was one of several companies contracted by the U.S. to supply more than 187,000 ventilators to the strategic national stockpile to help treat patients during the coronavirus pandemic.
The company said it had been informed by the U.S. Department of Health and Human Services (HHS) of the…
Keep on reading: US halts order of ventilators, earnings to be hit