Irvine-based Masimo Corp. today announced a multi-year renewal of its strategic partnership with Royal Philips, a Dutch health technology company valued at $27 billion.
The extension of the two-decade partnership will accelerate the integration of Masimo’s sensor technologies into Philips’ patient monitors through 2026 and beyond, according to the company.
“We are excited to continue to partner with Philips to bring Masimo’s newest innovations in wearables and artificial intelligence to Philips’ platforms,” Masimo Chief Executive Katie Szyman said in a statement.
Masimo said that the two companies will also work together to develop and co-promote next-generation AI-based monitoring technologies.
Shares in Masimo were unchanged at $145.89 and an $8 million market cap following the announcement (Nasdaq: MASI).
