Philips Agrees to Safety Oversight and Penalties to Resolve Device Recall Issues

Philips must hire an independent safety monitor, undergo inspections, and pay the government under a consent decree related to its device recall.

The company is prohibited from selling certain devices in the U.S. and must turn over up to 25% of revenue from some devices.

Philips did not admit fault but the government said the company sold "adulterated" devices.

If Philips violates the agreement, it could pay up to $20 million per year.

The impact on patient health from the recalled devices will take years to fully assess, though cancer and other illnesses have been reported.