Philips and Medtronic extend 30 year patient monitoring partnership
Medtronic and Philips have extended their partnership to develop patient monitoring equipment, with the two companies bundling supplies to enhance each other’s monitors and systems. The companies said the partnership has been in place since 1992, with Medtronic sensors being used in Philips systems.
This new multi-year renewal will empower the further development of combined monitoring systems for providers, the companies said, with Medtronic-enabled Philips devices adding standard features such as electrocardiograms and blood pressure to more systems.
Together, the combined systems monitor everything from pulse oximetry to brain activity, using components made by both companies.
"We’re proud to strengthen our collaboration with Medtronic, a partner that shares our commitment to expanding access to safe, reliable patient care," Sachin Chaudhari, vice president and general manager for clinical devices for Philips, said in a statement. "By providing a comprehensive monitoring solution that is validated throughout all stages, we’re supporting clinicians’ heavy workloads and complex patient cases by providing tools that can help address the daily challenges care teams face."
Philips added that, in addition to expanding the features on monitors, it will be supplying batteries for equipment under the new terms of the agreement.
'Pledge program' launched to improve quality
The two companies also announced a new "pledge program," where both will agree to standard testing and quality control checks aimed at improving patient safety.
“Together with Philips, we are eager to continue to integrate next-generation technologies and leverage our combined global presence to empower healthcare professionals with world-class technology to personalize patient care, anytime, anywhere,” Brian Blomerth, vice president of strategy operations and chief financial officer at Medtronic, said, adding that Medtronic systems are already integrated into Philips devices used in a variety of care settings.
The specific terms and length of the deal are unknown, but before re-signing, the two companies had been making medical devices together for over 30 years.
The full announcement is available here.
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