Masimo Corporation (Masimo) announced that it has reached a settlement with Respironics Inc, a unit of Royal Philips Electronics. According to the settlement, both companies will dismiss all claims and counterclaims against each other pending in the litigation between them in California Superior Court. As part of the settlement, Respironics and Masimo have agreed upon a schedule for the phase-out of the MARS oximetry technology. Terms of the agreement were not disclosed.
Masimo is a medical technology company that develops and manufactures innovative noninvasive patient monitoring technologies, including medical devices and a wide array of sensors.
Respironics is a provider of solutions for the global sleep and respiratory markets.