- Mindray Medical (MR +0.1%) and Masimo (MASI +1.1%) settle their patent, contract and antitrust litigation and ink a Not To Sue Agreement. Under the terms of the settlement, Mindray will pay Masimo $25M, assign certain patents to Masimo and agrees to purchase all pulse oximetry technology components for Mindray patient monitoring products sold in the U.S. and Canada from Masimo (already the primary supplier of the components for U.S.-marketed products).
- Mindray will take a $15.3M charge this quarter as a result.
- Masimo sued Mindray in January 2013 accusing it of infringing on nine Masimo patents and failing to use its best efforts to promote the adoption of Masimo's oximeter technology.