Philips (NYSE: PHG) and Masimo (Nasdaq: MASI) today announced that they renewed their multi-year strategic patient monitoring collaboration.
The two companies aim to accelerate the development and delivery of next-generation patient monitoring solutions. Philips and Masimo last expanded their patient monitoring partnership to home telehealth applications in 2023. That led to the subsequent FDA clearance for the incorporation of Masimo’s advanced monitoring tech into Philips’ existing high-acuity patient monitors.
Philips and Masimo say the expanded agreement reflects their commitment to empower clinicians with smarter, more integrated technologies.
They hope to integrate technologies like Masimo’s SET pulse oximetry, Radius PPG and sensor platforms into Philips’ patient monitoring offerings. This integration supports clinicians with reliable data and actionable insights, plus flexibility to use preferred technologies.
Building on their existing work, the companies also plan to collaborate on developing and co-promoting next-generation solutions. They expect these offerings to reflect emerging clinical needs and evolving market demands, like the need for greater patient mobility.
Philips and Masimo said they centered their focus on advancing, smart, connected care and expanding access to innovative technologies. Those include AI algorithms that could potentially improve patient care over time.
This marks another similar collaboration expansion for Philips, which extended its patient monitoring partnership with Medtronic in July.
Commentary from Philips and Masimo officials and analysts
Julia Strandberg, Philips EVP and business leader, Connected Care, said:
“Our priority is helping clinicians deliver the best possible care to their patients, and that means staying ahead of the curve. This partnership allows us to respond quickly to evolving clinical needs and market trends, integrating proven technologies into solutions that are easy to use, reliable, and scalable.”
Katie Szyman, CEO of Masimo, said:
“We are excited to continue to partner with Philips to bring Masimo’s newest innovations in wearables and artificial intelligence to Philips’ platforms. Expanding our strong, long-standing partnership with Philips allows us to build on our shared legacies of innovation and helps ensure that Masimo’s best-in-class technologies reach even more patients. Together, Masimo and Philips will continue to empower clinicians to transform patient care.”
BTIG’s Marie Thibault, Sam Eiber and Alexandra Pang, said:
“This announcement, which extends the collaboration through 2026 and beyond, was anticipated, as management had recently said that they expected to announce a new agreement with Philips before the end of the year. We are pleased to see this update and believe this aligns with the company’s strategic initiatives that CEO Katie Szyman outlined earlier this year.”
