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Billionaire Agnelli Family Takes 15% Stake In Philips, Becomes Largest Shareholder

 
• By Marion Webb

Exor’s CEO John Elkann said the company is committed to supporting Philips’ “change of path” to combine health care and technology. 

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Exor NV says it will take a 15% stake in Philips Healthcare in an approximate €2.6bn ($2.8bn) deal in support of the Dutch medtech company’s long-term goal to increase its focus on health care and technology, the companies announced on 14 August.

Philips has had a difficult two years marked by a mass recall of machines for sleep apnea and ventilators, a problem that began in April 2021 when Philips first noted...

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