Dive Brief:
- Masimo and Philips renewed a multi-year strategic collaboration to integrate patient monitoring technologies and develop new tools, such as artificial intelligence algorithms, that could help improve patient care, the companies said Thursday.
- Under the partnership, integration of Masimo’s SET pulse oximetry technology, which tracks oxygen saturation and pulse rate, into Philips’ multi-parameter patient monitors is expected to accelerate through 2026 and beyond, Masimo said.
- The status of Masimo’s relationship with Philips became a topic of discussion on Masimo’s second-quarter earnings call in August, after an analyst pointed out that competitor Medtronic renewed its partnership with Philips in patient monitoring in July.
Dive Insight:
On the earnings call in August, new CEO Katie Szyman, who joined Masimo in February from BD, sought to reassure investors that the company’s decades-long relationship with Philips remained strong.
Masimo’s pulse oximetry technology is already available on Philips’ patient monitors, and technologies including those that measure continuous hemoglobin and brain function are connected with other Philips devices.
As part of the renewed partnership, Philips is expediting adoption of these technologies in additional devices and market segments.
The new agreement also includes integrating Masimo’s Radius PPG wearable sensor technology with Philips monitors and next-generation wearable multi-parameter devices, Masimo said. A range of Masimo sensors will be used with Philips bedside monitors and central stations.
BTIG analyst Marie Thibault, in a note to clients Thursday, said the renewed and expanded partnership with Philips aligns with the strategic initiatives that Szyman outlined earlier in the year. “We are pleased to see this update,” wrote Thibault.
Philips said the agreement with Masimo is in keeping with a broader strategy to support vendor-neutral interoperability across healthcare systems.
