Philips and Masimo jointly market and sell each others products
Medical electronics companies Royal Philips and Masimo Corporation have joined hands and signed multi-year business partnership agreement. The partnership focuses on joint marketing and sales programs in North America and certain markets in Asia and Europe for Masimos non-invasive sensor technologies, such as its rainbow and SET platforms, in conjunction with Philips patient monitoring and select therapy solutions. Philips also said in the future integrate Masimo SedLine brain function monitoring, O3 regional oximetry, and Nomoline capnography technologies in certain Philips IntelliVue monitors.
Through this joint program, Philips is attempting to leverage Masimo capabilities in non invasive Sensor and signal processing technology innovations including Masimo SET pulse oximetry, Masimo rainbow Pulse CO-Oximetry and Masimo total hemoglobin (SpHb) monitoring technology. The non invasive sensors is getting popular these days because they are patient friendly and troubles less when it comes to measuring medical related parameters from the patients.
"This business partnership agreement marks an important day for us and our customers as two leaders in patient monitoring collaborate to develop solutions designed to enhance clinical outcomes and patient safety," said Frans van Houten, CEO of Royal Philips. "I am very satisfied that we have reached an agreement that is beneficial for both companies and that we have ended our legal disputes. Going forward, Philips and Masimo will completely focus on jointly delivering meaningful innovations to our customers, such as the integration of Masimo rainbow technology across our IntelliVue patient monitoring product range."
"It's wonderful to think that Masimo and Philips will be working together for the benefit of patients and clinicians around the world," said Joe Kiani, Chairman and CEO of Masimo. "I am delighted that we were able to reach this important agreement which allows us to focus on the future to deliver the solutions that our customers have been looking for."