Philips to appeal verdict in patent infringement lawsuit in the US

October 2, 2014

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG; AEX: PHIA) today announced that it will appeal the jury verdict in the patent infringement lawsuit by Masimo Corporation in the United States District Court for the District of Delaware against Philips. The lawsuit, which started in 2009, alleges that certain Masimo patents are infringed by those Philips products which incorporate the Philips FAST SpO2 pulse oximetry measurement technology - a non-invasive technology to measure the level of oxygen saturation in a patient's blood.

 

As part of the decision, which Philips will appeal, Masimo was awarded a compensation of USD 467 million (EUR 366 million). This amount will be reported as an exceptional charge to the EBITA of the Healthcare sector in Q3 2014. 

 

“We are very disappointed in the verdict of the jury and surprised by the magnitude of the proposed award,” said Frans van Houten, CEO Royal Philips. “Philips intends to pursue all avenues of appeal of this verdict at both the District and Appellate courts in the US.”

For further information, please contact:

Steve Klink
Philips Group Communications
Tel.: +31 6 10888824
E-mail: steve.klink@philips.com 

 

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About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a diversified health and well-being company, focused on improving people’s lives through meaningful innovation in the areas of Healthcare, Consumer Lifestyle and Lighting. Headquartered in the Netherlands, Philips posted 2013 sales of EUR 23.3 billion and employs approximately 113,000 employees with sales and services in more than 100 countries. The company is a leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as male shaving and grooming and oral healthcare. News from Philips is located at www.philips.com/newscenter.

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Forward-looking statements

This release may contain certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

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