U.S. Chamber of Commerce Selects Medtech Exec as Recipient of Intellectual Property Award

The U.S. Chamber of Commerce Global IP Center (GIPC) today presented Joe Kiani, founder, CEO and chairman of Irvine, Calif.-based Masimo, with a 2015 IP Champion Award at a ceremony commemorating World IP (intellectual property) Day in Washington, D.C.

Kiani has more than 65 patents in his name and more than 575 patents issued or filed by Masimo in medical technologies related to noninvasive patient monitoring. According to the U.S. Chamber of Commerce, Kiani was selected for his work in life sciences, his prolific patent portfolio, his passion for innovation, and his advocacy for strong intellectual property protection in the United States and across the globe.

“From developing new lifesaving medical technologies, creating cures for terrible diseases, or making unsafe water safe for consumption, the individuals, businesses, and ideas honored today represent some of the very best examples of innovation from around the world,” said David Hirschmann, president and CEO of GIPC. “Defining the true meaning of World IP Day, IP and innovation are the commonalities that all of today’s awardees share, and GIPC looks forward to continuing to work with today’s winners, government officials, and stakeholders around the world to promote and protect IP.”

The Global IP Center officials noted that the U.S. economy is driven by the need to innovate, create, and develop new ways to serve consumers, and that intellectual property protection plays an essential role. When inventors, researchers, engineers, artists, and entrepreneurs know that their work will be protected and rewarded through strong IP rights—including patents, trademarks and copyrights—they have the certainty and the incentive to keep the economy-boosting innovations coming.

“I am honored to receive this award,” said Kiani. “Innovation is not only vital for improving patients’ lives but is also the cornerstone of our economy. My company was built on breakthrough innovations that not only made noninvasive pulse oximetry reliable, but made noninvasive monitoring of hemoglobin, carbon monoxide, and many other blood constituents possible. Without the promise of a strong IP system to defend our innovation, we wouldn’t have been able to raise the more than $90 million in venture capital financing we needed to break even. However, to be a champion of innovation means so much more to me. In the middle of more than 100 billion galaxies each with billions of stars and all of the forces around us, innovation is crucial for the survival of the human race. To be on the side of a strong and deliberate IP system that fosters innovation, is to be on the right side of history.”

The U.S. Chamber of Commerce created the Global Intellectual Property Center to meet the serious criminal and policy threats facing investors, IP industries and consumers. Today, the organization is leading a worldwide effort to champion intellectual property rights as vital to creating jobs, saving lives, advancing global economic growth, and generating breakthrough solutions to global challenges.

Masimo makes noninvasive monitoring technologies.