Philips Denies Overcharging US Government for Ventilators
July 31 2020 - 10:50AM
Dow Jones News
By Jaime Llinares Taboada
Koninklijke Philips NV said Friday that it hasn't raised the
prices of its ventilators in the U.S. to benefit from the
coronavirus pandemic.
The Dutch medical-technology company said that it doesn't
recognize the conclusions of a report released on Friday by the
U.S. House of Representatives Subcommittee on Economic and Consumer
Policy.
The report claims that an order made in 2014 for more than
10,000 Trilogy ventilators by June 2019 was renegotiated earlier
this year under new terms at almost five times the price of the
previous contract.
The report also says that a second contact for 43,000 Trilogy
EV300 ventilators was entered into on April 7 at $15,000 each.
"I would like to make clear that at no occasion, Philips has
raised prices to benefit from the crisis situation," the company's
Chief Executive Frans van Houten said.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
July 31, 2020 10:35 ET (14:35 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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