March 22, 2020 / 7:37 PM / 6 days ago

Philips to ramp up production of ventilators in coronavirus fight

AMSTERDAM, March 22 (Reuters) - Dutch health technology company Philips on Sunday said it will ramp up production of critical healthcare products to help diagnose and treat patients with the new coronavirus disease COVID-19.

Philips said it aimed to double its production of hospital ventilators within the next eight weeks and to achieve a four-fold increase by the third quarter of this year.

The company also said it expected the impact of the coronavirus outbreak to hurt its results in the first half of 2020, but that it was too early to say how big the impact would be and how long it would last. (Reporting by Bart Meijer; Editing by Kevin Liffey)

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