Philips’ revenues contraction in the first quarter of 2022 was less than feared and its order book remains impressive, but challenges presented by the recall program and generic post-COVID factors for the year ahead remain substantial.

Frans van Houten has promised a summer update on Royal Philips’ medium-term outlook after the company was hit from all sides in late 2021. He expects the resulting headwinds to persist into early 2022.

After a brief lull in US initial public offerings, PainReform and three special purpose acquisition companies kicked off September’s IPOs. Also, Immunovant offering grossed $173.9m, Carlyle Group bought 5% stake in China’s Salubris and Erasca increased its series B to $236m. 

Former VA Secretary David Shulkin said health care post-COVID-19 requires a makeover with greater hospital integration and ongoing telemedicine to address behavioral and physical issues.