Covidien and Phillips tout another iteration of the Nellcor SpO2 pulse oximetry product for use with the Philips IntelliVue patient monitoring platform.

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Covidien (NYSE:COV) and Philips (NYSE:PHG) are launching another pulse oximetry product as part of a long-running partnership.

Mansfield, Mass.-based Covidien said it will provide its Nellcor SpO2 pulse oximetry technology for use with the Philips IntelliVue patient monitoring platform in North America, Europe and elsewhere.

The partnership between 2 of the largest companies in the medical device space dates back to 2009, according to a Covidien spokeswoman. The company does not break out how much revenue it derives from the distribution deal, as the Respiratory & Monitoring Solutions division is 1 of 5 operating units in the company's medical device segment, which brought in over $2 billion in sales during the 3 months ended March 30.

Covidien recently bolstered the respiratory unit with a $300 million acquisition of Oridion Systems in April. That deal is expected to close this quarter.

"Because Nellcor OxiMax technology relies on cardiac signals, it mitigates signal interference, offering clinicians an accurate and reliable means for monitoring a wide range of patients in a variety of settings and challenging conditions, such as low perfusion," Covidien spokesman Dr. Scott Kelley said in prepared remarks.