Masimo (MASI) Inks Deals for Patient Monitoring Technologies
Masimo MASI announced that Fresno, a California-based Community Health System (CHS), is using Masimo SET pulse oximetry as a standard device across its network of hospitals. CHS provides all levels of care across the Central Valley area of California through a four-hospital network.
Apart from standardizing the use of pulse oximetry, CHS will also deploy other Masimo technologies like 800 Root Vital Signs Monitoring and Connectivity Hubs, and 200 Rad-97 Pulse CO-Oximeters with NomoLine capnography in its four hospitals.
The CHS hospital-network has plans to implement Masimo Patient SafetyNet for centralized remote patient monitoring. The Masimo Patient SafetyNet will allow the hospital-network to seamlessly transfer patient data into electronic medical records (EMRs). The idea is to streamline nursing workflows and improve patient safety.
The CHS also plans to expand its perioperative monitoring capabilities through installations of advanced Masimo rainbow parameters including SpHb non-invasive and continuous hemoglobin monitoring, PVi pleth variability index, SedLine brain function monitoring, O3 regional oximetry and LiDCO hemodynamic monitoring.
Shares of Masimo have risen 9% year to date compared with the industry’s growth of 5.5%. The S&P 500 Index was up 14.8% in the same period.
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Earlier this month, Masimo’s W1 advanced health-tracking watch was chosen by one of Switzerland’s premier academic institutions — Lausanne University Hospital (CHUV) — for pre-surgical patient assessment research program in its Department of Anesthesiology.
A key hospital authority believes that Masimo W1 watch will better inform anesthesiologists and surgical teams about their patients’ physiological status prior to surgery. The watch offers accurate, continuous measurements of key physiological parameters. It is available in Europe and comes integrated with the Masimo SafetyNet remote patient management platform.
These deals reflect rising demand for digital and remote monitoring of patients. Although the digitization of healthcare has been gaining traction for past several years, it was spurred by the pandemic that put significant pressure on hospitals, leading to acceleration in remote monitoring of patients.
Shortage of hospital staff also led caregivers to focus on remote monitoring. The benefits of digital and remote monitoring of patients are likely to generate more demand going forward, creating growth opportunities for companies like Masimo.
Recent Development
Last week, Masimo received FDA approval for its patient-worn, continuous multi-parameter vital signs monitor, Radius VSM, which is already available in Europe. Radius VSM is expected to combine the reliability and accuracy of larger bedside monitors with the comfort and freedom of a wearable device. The monitor enables clinicians to track a wide variety of physiological measurements, including Masimo SET pulse oximetry, non-invasive blood pressure, temperature, respiration rate and electrocardiography.
Masimo Corporation Price
Masimo Corporation price | Masimo Corporation Quote
Zacks Rank & Other Stocks to Consider
Masimo currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader medical space are CONMED CNMD, Merit Medical Systems MMSI and Dentsply Sirona XRAY, each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
CONMED has an estimated long-term growth rate of 19.4%. The company’s earnings surpassed estimates in two of the trailing four quarters, missed once and met in another, delivering a negative average surprise of 10.54%.
CNMD’s shares haverisen 49.5% year to date compared with the industry’s 8.6% growth.
Merit Medical Systems has an estimated long-term growth rate of 11%. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 20.22%.
The company’s shares have risen 16.5% year to date compared with the industry’s 8.6% growth.
Dentsply Sirona has an estimated long-term growth rate of 9.1%. XRAY delivered a trailing four-quarter average earnings surprise of 10.47%.
The company’s shares have rallied 22.7% year to date compared with the industry’s 8.6% growth.
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