The original settlement, inked back in January 2006, called for Nellcor to pay Masimo royalties on products using Masimo’s pulse oximetry technology through March 2011, according to a regulatory filing. Nellcor paid out $68.8 million in 2006, a rate of nearly 20%; that fell to 15%, or $56.1 million, the next year. From 2008 to 2011 the rate was 13%, resulting in collective royalties of $178 million.
In March 2011, Nellcor (then owned by Covidien) and Masimo agreed to cut the rate to 7.75%, resulting in a $28.3 million payment the next year; the payments hovered around that mark through 2015, for total royalties of nearly $119 million from 2012 to 2015. All told, winning in the courtroom brought in roughly $650 million for Masimo over the last 10 years, including the initial settlement amount, according to regulatory filings.
Today the Irvine, Calif.-based company said it agreed to hold the rate at 7.75% through Oct. 6, 2018, “after which no further royalties will be due under the agreement.” That agreement puts the long-simmering dispute to bed, including ongoing patent infringement proceedings, Masimo said.
Earlier this year, the U.S. Patent and Trademark Office’s Patent Trial & Appeal Board delivered split a decision related to Masimo’s patents, which Medtronic challenged last year. The PTAB ruled on petitions to review 2 different patents owned by Masimo related to signal processing apparati, granting Medtronic’s request to review certain claims on 1 but denying other claims on it and on a 2nd patent. Medtronic challenged Masimo patents last October, filing inter partes review petitions with the U.S. Patent & Trademark Office.
The post Masimo retools Nellcor royalty deal with Medtronic appeared first on MassDevice.
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