Irvine, California, December 19, 2002, Masimo, the innovator of motion and low perfusion-tolerant pulse oximetry technology, announced today that it has formed a strategic alliance with leading Chinese medical device manufacturer, Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (Mindray) of Shenzhen, China. Mindray, the largest domestic manufacturer of patient monitoring products in China, will incorporate Masimo SET® motion and low perfusion tolerant pulse oximetry as its primary pulse oximetry technology for its patient monitoring products.

Minghe Cheng, Vice President and Director of Marketing for Mindray, indicated that the company has been the leader in the Chinese market for medium to low-priced monitors, but sees Masimo SET as an integral component for moving to the higher performance end of the market. “We are getting many requests from our customers for Masimo SET pulse oximetry and we feel we need to now move quickly to make it available,” commented Cheng.

“We are happy to begin a long term relationship with Mindray, a company with high quality product offerings and a tremendous amount of respect as a leading patient monitoring company in the Chinese market,” said Stan Lipin, President of Asia-Pacific Operations for Masimo Corporation. “This agreement is a key component of establishing Masimo SET as the preferred pulse oximetry technology in Asia.”

Shenzhen Mindray Bio-Medical Electronics Co., Ltd, a sino-U.S. joint venture, located in Shenzhen, P. R. China, is engaged in the development, manufacturing, marketing and selling of electro-medical equipment in the Patient Monitoring, Laboratory Instrument and Medical Ultrasound fields. With annual sales growing at 40% in recent years, Mindray has positioned itself as one of the largest electro-medical equipment manufacturers in China since its establishment in 1991. Safety and reliability have enabled Mindray's products to be well accepted in more than 10,000 hospitals in China. Mindray obtained an ISO9001/EN46001 Quality Assurance certification in 1995 and a CE mark for its patient monitors in 2000, which establishes the company as a player in the global patient monitoring market. Mindray's products are currently sold in more than 50 countries world-wide. Additional information about Mindray and its products can be found on the company’s web site: www.mindray.com.cn