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The MedTech Billionaire Waging A Patent War With Apple - Forbes   

In May 2013, Joe Kiani, the founder and CEO of medical technology company Masimo, went to a meeting at Apple’s headquarters in Cupertino to discuss a potential collaboration. The consumer technology giant was in the process of developing the Apple Watch and exploring ways to incorporate different health sensors. Founded in 1989, Masimo is best known for its pulse oximeters – fingertip devices used by hospitals to measure the level of oxygen in patients’ blood. “I didn't want to be in the consumer space ourselves,” says Kiani. “I thought Apple would be a great partner to take our technology and make it available to the masses.”

Masimo was one of 28 companies that Apple met with related to the Apple Watch project. Internally, Apple executives were weighing a potential Masimo acquisition, but ultimately decided against it because Masimo’s hospital-focused products were outside of Apple’s core consumer focus. “Acquisitions of this size aren’t our style,” Adrian Perica, Apple’s vice president of corporate development wrote in an email update to CEO Tim Cook.

Ten years later, Apple and the company it rejected are embroiled in a multi-front legal battle over the Apple Watch. Apple commands over 56% of the global smartwatch market, which is expected to hit $33 billion in 2023, according to research firm IDC. The firm forecasts the larger global wearables market will hit nearly $63 billion.

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