Philips says it did not profiteer on ventilators amid coronavirus

Dutch technology company Philips' entrance is seen at company headquarters in Amsterdam, Netherland

Dutch healthcare equipment company Philips said on Friday it had not sought to profit by raising the price of the ventilators it manufactures during the coronavirus crisis.

In a statement, Chief Executive Officer Frans van Houten said the company was responding to a report issued by the U.S. Congress’s House Subcommitte on Economic and Consumer policy.

“I would like to make clear that at no occasion, Philips has raised prices to benefit from the crisis situation,” he said.

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