Masimo Gets $4.95M From Gates Foundation

Irvine-based medical equipment maker Masimo said today that it has received $4.95M in funding from the Bill & Melinda Gates Foundation. Masimo said the grant will go towards its efforts to develop a low-cost, pulse oximeter for use in pneumonia screening outside the U.S. Masimo said the device is still in development. The company said the new device will likely measure oxygen saturation (SpO2) and respiration rate (RR).