A years-long legal skirmish over patents has ended between Masimo Corp. and Koninklijke Philips, which will pay the Irvine firm $300 million in addition to signing a multi-year partnership in patient monitoring and therapy solutions.
Masimo sued an Andover, Mass.-based subdivision of Philips in 2009, claiming it was wrongly importing the oximeters in violation of the two U.S. patents.
Philips, a division of the Amsterdam-based firm, was handed a $467 million defeat by jurors in 2014 who decided the world’s largest lighting company should pay Masimo for infringing patents covering technology used in fingertip devices that measure blood oxygen and pulse rates using light absorption.
That jury also decided Masimo didn’t infringe a Royal Philips patent.
In the settlement, Philips agreed to use Masimo technology in its products. The partnership also includes joint marketing and sales programs in North America and other markets.
“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, in a statement.
Contact the writer: hmadans@ocregister.com or Twitter: @HannahMadans
