Philips will build 43,000 ventilators for the Strategic National Stockpile under a $646.7 million contract with HHS, the agency said April 8.
HHS said 2,500 ventilators are expected to be delivered to the stockpile by the end of May and the rest will be delivered by the end of the year.
The contract is the second for ventilator production made under the Defense Production Act which President Donald Trump invoked March 27.
HHS is expected to continue awarding contracts to companies for ventilator production.
Read the full news release here.