May 27, 2020

Masimo and Philips licensing agreement brings Masimo NomoLine Capnography and O3 Regional Oximetry to select Philips patient monitors

Amsterdam, the Netherlands and Irvine California – Masimo (NASDAQ: MASI) and Royal Philips (NYSE: PHG; AEX: PHIA), both global leaders in patient monitoring, announced today that they have reinforced their partnership, whereby Philips will integrate additional Masimo measurement technologies into select IntelliVue® MX-series multi-parameter monitors, to help clinicians assess cerebral oximetry and ventilation status.

Core Masimo noninvasive measurements, such as SET® Measure-through Motion and Low Perfusion™ pulse oximetry and advanced rainbow SET® Pulse CO-Oximetry parameters like noninvasive hemoglobin (SpHb®), have long been available on a wide range of Philips multi-parameter monitors.

In 2016, Masimo and Philips entered into a multi-year business partnership involving both companies’ innovations in patient monitoring and therapy solutions. Now, in 2020, Philips becomes one of Masimo’s first industry partners to launch additional advanced Masimo measurements, NomoLine and O3, in their own patient monitors, sharing Masimo’s expertise in capnography and regional cerebral oximetry with caregivers and patients around the world.

As global leader in health technology, we are delighted to reinforce our partnership with Masimo, bringing their advanced measurements to our innovative IntelliVue patient monitors, thereby making them even more versatile.

Frans van Houten

CEO of Royal Philips.

NomoLine capnography and O3 regional oximetry measurements are available now on Philips MX500 and MX550 monitors [1] in select markets [2] throughout the world, and are also available directly from Masimo on its Root® Patient Monitoring and Connectivity Platform and when connected to select Philips patient monitors via Philips’ IntelliBridge module:

NomoLine “no-moisture” sampling lines are designed for low-flow applications and can be used in a variety of clinical scenarios and care settings, on both intubated and non-intubated patients of all ages, in both low- and high-humidity applications.
O3 regional oximetry may help clinicians monitor cerebral oxygenation in situations in which pulse oximetry alone may not be fully indicative of the oxygen in the brain.

“As global leader in health technology, we are delighted to reinforce our partnership with Masimo, bringing their advanced measurements to our innovative IntelliVue patient monitors, thereby making them even more versatile,” said Frans van Houten, CEO of Royal Philips. “Our customers expect integrated solutions to help them address the quadruple aim of healthcare. The complementary strengths of Philips and Masimo allow us to offer, reliable ventilation and regional oximetry solutions, which we expect will help clinicians deliver even better patient care.”

“Combining our expertise in noninvasive monitoring and signal processing technologies with Philips’ expertise in integrated patient monitoring and therapy solutions is a win-win for patients and clinicians alike,” said Joe Kiani, Founder and CEO of Masimo. “We are proud that Philips, recognizing our expertise in this clinical space, has chosen to make our innovative O3 and NomoLine platforms available to their customers. We look forward to continuing our partnership with a focus on improving patient outcomes and reducing the cost of care.”

[1] Pending 510k, not available for sale in the USA

[2] Not for sale in Albania, American Samoa, Bosnia and Herzegovina, Brazil, Belarus, Canada, China, Columbia, Costa Rica, Algeria, Egypt (O3 is available for sale), Guam, Hong Kong, Indonesia, , Iran, Japan, Kenya, Cambodia, Korea, Kazakhstan, Sri Lanka, Morocco (O3 is available for sale), Montenegro, Macedonia, Northern Mariana Islands, Mexico, Malaysia, Panama, Peru, Philippines, Puerto Rico, Serbia, Russian Federation, Saudi Arabia, Singapore, Syrian Arab Republic, Thailand, Turkey, Taiwan, Ukraine, Venezuela, U.S. Virgin Islands, Vietnam, South Africa.

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2019 sales of EUR 19.5 billion and employs approximately 81,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

About Masimo

Masimo (NASDAQ: MASI) is a global medical technology company that develops and produces a wide array of industry-leading monitoring technologies, including innovative measurements, sensors, patient monitors, and automation and connectivity solutions. Our mission is to improve patient outcomes and reduce the cost of care. Masimo SET® Measure-through Motion and Low Perfusion™ pulse oximetry, introduced in 1995, has been shown in over 100 independent and objective studies to outperform other pulse oximetry technologies [1]. Masimo SET® has also been shown to help clinicians reduce severe retinopathy of prematurity in neonates [2], improve CCHD screening in newborns [3], and, when used for continuous monitoring with Masimo Patient SafetyNet™ in post-surgical wards, reduce rapid response team activations, ICU transfers, and costs [4-6]. Masimo SET® is estimated to be used on more than 200 million patients in leading hospitals and other healthcare settings around the world [7], and is the primary pulse oximetry at 9 of the top 10 hospitals according to the 2019-20 U.S. News and World Report Best Hospitals Honor Roll [8]. Masimo continues to refine SET® and in 2018, announced that SpO2 accuracy on RD SET® sensors during conditions of motion has been significantly improved, providing clinicians with even greater confidence that the SpO2 values they rely on accurately reflect a patient’s physiological status. In 2005, Masimo introduced rainbow® Pulse CO-Oximetry technology, allowing noninvasive and continuous monitoring of blood constituents that previously could only be measured invasively, including total hemoglobin (SpHb®), oxygen content (SpOC™), carboxyhemoglobin (SpCO®), methemoglobin (SpMet®), Pleth Variability Index (PVi®), RPVi™ (rainbow® PVi), and Oxygen Reserve Index (ORi™). In 2013, Masimo introduced the Root® Patient Monitoring and Connectivity Platform, built from the ground up to be as flexible and expandable as possible to facilitate the addition of other Masimo and third-party monitoring technologies; key Masimo additions include Next Generation SedLine® Brain Function Monitoring, O3® Regional Oximetry, and ISA™ Capnography with NomoLine® sampling lines. Masimo’s family of continuous and spot-check monitoring Pulse CO-Oximeters® includes devices designed for use in a variety of clinical and non-clinical scenarios, including tetherless, wearable technology, such as Radius-7® and Radius PPG™, portable devices like Rad-67™, fingertip pulse oximeters like MightySat® Rx, and devices available for use both in the hospital and at home, such as Rad-97®. Masimo hospital automation and connectivity solutions are centered around the Iris® platform, and include Iris Gateway®, Patient SafetyNet, Replica™, Halo ION™, UniView™, and Masimo SafetyNet™. Additional information about Masimo and its products may be found at www.masimo.com. Published clinical studies on Masimo products can be found at www.masimo.com/evidence/featured-studies/feature/.

[1] Published clinical studies on pulse oximetry and the benefits of Masimo SET® can be found on our website at http://www.masimo.com. Comparative studies include independent and objective studies which are comprised of abstracts presented at scientific meetings and peer-reviewed journal articles.

[2] Castillo A et al. Prevention of Retinopathy of Prematurity in Preterm Infants through Changes in Clinical Practice and SpO2 Technology. Acta Paediatr. 2011 Feb;100(2):188-92.

[3] de-Wahl Granelli A et al. Impact of pulse oximetry screening on the detection of duct dependent congenital heart disease: a Swedish prospective screening study in 39,821 newborns. BMJ. 2009;Jan 8;338.

[4] Taenzer AH et al. Impact of pulse oximetry surveillance on rescue events and intensive care unit transfers: a before-and-after concurrence study. Anesthesiology. 2010:112(2):282-287.

[5] Taenzer A et al. Postoperative Monitoring – The Dartmouth Experience. Anesthesia Patient Safety Foundation Newsletter. Spring-Summer 2012.

[6] McGrath SP et al. Surveillance Monitoring Management for General Care Units: Strategy, Design, and Implementation. The Joint Commission Journal on Quality and Patient Safety. 2016 Jul;42(7):293-302.

[7] Estimate: Masimo data on file.

[8] http://health.usnews.com/health-care/best-hospitals/articles/best-hospitals-honor-roll-and-overview.

Forward-Looking Statements: Masimo

This press release includes forward-looking statements as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, in connection with the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among others, statements regarding the potential effectiveness of Masimo NomoLine®, O3®, SET®, rainbow SET®, and Root®. These forward-looking statements are based on current expectations about future events affecting us and are subject to risks and uncertainties, all of which are difficult to predict and many of which are beyond our control and could cause our actual results to differ materially and adversely from those expressed in our forward-looking statements as a result of various risk factors, including, but not limited to: risks related to our assumptions regarding the repeatability of clinical results; risks related to our belief that Masimo's unique noninvasive measurement technologies, including Masimo NomoLine, O3, SET®, rainbow SET®, and Root, contribute to positive clinical outcomes and patient safety; risks related to our belief that Masimo noninvasive medical breakthroughs provide cost-effective solutions and unique advantages; as well as other factors discussed in the "Risk Factors" section of our most recent reports filed with the Securities and Exchange Commission ("SEC"), which may be obtained for free at the SEC's website at www.sec.gov. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. All forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of today's date. We do not undertake any obligation to update, amend or clarify these statements or the "Risk Factors" contained in our most recent reports filed with the SEC, whether as a result of new information, future events or otherwise, except as may be required under the applicable securities laws.