Philips and Masimo extend strategic partnership with sensor tech focus

Core Insights - Philips and Masimo have renewed their strategic partnership to enhance patient care solutions, focusing on improving access to monitoring and measurement technologies for better patient outcomes across the continuum of care [1][2] Group 1: Partnership Details - The collaboration will integrate Masimo's sensor technologies, including SET pulse oximetry and Radius PPG tools, into Philips' multi-parameter patient monitoring platforms [2] - This integration aims to provide clinicians with reliable data and insights across various monitoring solutions, enhancing interoperability and continuity of patient care [2][3] Group 2: Leadership Comments - Masimo's CEO, Katie Szyman, emphasized that the partnership allows for the expansion of their innovative technologies to reach more patients [3] - Philips' executive vice president, Julia Strandberg, highlighted the company's commitment to helping clinicians deliver optimal care by staying ahead of market trends [4] Group 3: Market Context - Philips has also renewed a partnership with Medtronic to develop a more comprehensive patient monitoring solution [4] - The global remote patient monitoring market is projected to grow at a CAGR of 2.1%, reaching nearly $26 billion by 2034, up from $20.9 billion in 2024 [5]