Masimo Corp. (Nasdaq: MASI), an Irvine-based medical device maker of noninvasive monitoring technologies, will buy a German company whose products are in demand because of the coronavirus.
TNI Medical AG in Würzburg, Germany, makes a technology called softFlow to provide high flow, warmed and humidified respiratory gases to spontaneously breathing patients suffering from serious pulmonary conditions.
Terms weren’t disclosed, though Masimo said it will have an immaterial impact on net earnings in 2020. Last August, Masimo disclosed an investment in TNI that included an exclusive option to buy the company.
“Due to COVID-19, there has been increasing demand for TNI’s softFlow technology,” Joe Kiani, founder, chairman and chief executive, said in a statement. “We decided to exercise our option to acquire the company well before the option expired to allow Masimo to scale manufacturing.
“We believe this technology will provide clinicians with important additional tools to address the growing number of people affected by pulmonary diseases and respiratory-related illnesses, including those suffering from COVID-19,” he said.