Masimo Gets $300M From Philips In Patient Monitoring Partnership

Irvine-based medical equipment maker Masimo and Royal Philips said very late Sunday evening that the Philips will pay $300M to Masimo, as part of a multi-year business partnership agreement, which also resolves and outstanding legal matter between the two. The two said they will work together on joint marketing and sales, as well as integration of Masimo's SedLine brain function monitoring, O3 regional oximetry, and Nomoline capnography technologies in Philips IntelliVue monitors. The two also agreed to end all pending lawsuits between the two companies; Philips had owed Masimo $467M in a jury award over patent infringement; however, the two said that Philips is now released from paying that $467M award as part of the new partnership.