SAN FRANCISCOŚMasimo Corp., a medical technology firm that develops and manufactures non-invasive patient monitoring technologies, said Monday (March 12) it acquired the assets of Spire Semiconductor LLC, a maker of light emitting diode (LED) and other component-level technologies. The purchase price was not disclosed.
Masimo (Irvine, Calif.) also announced the formation of a wholly owned subsidiary, Masimo Semiconductor LLC, which it said would operate Spire going forward. The acquisition gives Masimo the capability to develop custom components, accelerate development cycles and optimize future product costs, the company said.
"Spire Semiconductor has developed a superior intellectual property portfolio and advanced optoelectronic technology that is well-suited for Masimo's groundbreaking noninvasive patient monitoring technologies," said Spire Chairman and CEO Roger Little, in a statement.
Little said Masimo has been one of Spire's largest customers for several years.
"We believe that further advancements in noninvasive blood constituent monitoring technologies are unlikely using off-the-shelf optoelectronic components," said Joe Kiani, Masimo Chairman and CEO. "Masimo Semiconductor will make the future possible and usher in a new era of technologic advancements for Masimo and ultimately our customers and patients."
Masimo said Masimo Semiconductor, based in Hudson, N.H., specializes in wafer epitaxy, foundry services and device fabrication for biomedical, telecommunications, consumer products and other markets. The subsidiary develops custom optoelectronic components, concentrator photovoltaic (CPV) cells, photocathodes, PIN diodes, Avalanche diodes, laser power converters, thermo photovoltaics and laser diodes, Masimo said.