Royal Philips 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 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."