Two providers of patient monitoring systems from different continents have forsaken their former competitiveness and united in a multi-year agreement to develop and streamline the latest advances in the field.
Consequently, Netherlands-based Royal Philips and Irvine, California-based Masimo are on track to develop innovative upgrades together in branded patient monitoring technology, the two companies recently announced from Amsterdam and Irvine, respectively.
“This business partnership agreement marks an important day for us and our customers as two leaders in patient monitoring collaborate to develop solutions,” Frans van Houten, CEO of Royal Philips, said. “I am very satisfied that we have reached an agreement that is beneficial for both companies ... 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.”
Philips focuses on diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as consumer health and home care. In turn, Masimo works on noninvasive monitoring solutions for improved patient outcomes.
The companies aim to improve clinical workflow and caregiver efficiency through new tools. Masimo has developed sensor and signal technologies for monitoring devices, including products to measure pulse oximetry and monitor hemoglobin; Philips is poised to integrate Masimo products into its own systems.
The team approach will include joint marketing and sales programs in North America, Asia and Europe.
“It’s wonderful … that Masimo and Philips will be working together for the benefit of patients and clinicians around the world,” Masimo Chairman and CEO Joe Kiani said. “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.”
