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Masimo (MASI), Spacelabs Team Up to Enhance Patient Outcome

Masimo Corporation MASI recently extended its partnership with Spacelabs Healthcare in patient monitoring with the aim of providing better patient outcomes. The tie-up will enable Spacelabs Healthcare to integrate SET pulse oximetry, NomoLine capnography, rainbow SET Pulse CO-Oximetry, SedLine brain function monitoring and O3 regional oximetry into its select multi-parameter monitors.

For investors’ note, Spacelabs Healthcare is a division of OSI Systems, Inc. OSIS and a provider of medical equipment and services.

The latest collaboration is expected to significantly strengthen Masimo’s foothold in the global patient monitoring solutions business.

Significance of the Partnership

Per Masimo’s management, the latest partnership with Spacelabs will enable it to provide advanced parameters to hospitals equipped with their innovative patient monitors. This is likely to help hospitals provide the best possible patient care. Further, management expects to aid clinicians gain more insight into their patients’ physiological status, thereby helping them improve outcomes.

Further, Spacelabs’ management believes that extending its partnership with Masimo will enable the former to integrate its patient monitoring systems with Masimo’s suite of advanced measurements to perform better patient-centric actions.

Industry Prospects

Per a report by Markets And Markets, the global patient monitoring devices market is projected to reach $55.1 billion by 2025 from $36.4 billion in 2020 at a CAGR of 8.6%. Factors like technological advancements and growing preference for telehealth services amid the pandemic are expected to drive the market.

Given the market potential, the partnership is expected to significantly boost Masimo’s business worldwide.

Recent Developments

Of late, Masimo has been witnessing few developments across its businesses.

The company, this month, announced the publication of study results in the Journal of Anesthesia & Clinical Research. The study evaluated the utility of Masimo O3 Regional Oximetry to aid in monitoring septic shock patients who have been admitted to the ICU.

The same month, Masimo announced the publication of favorable study results in the Journal of Applied Physiology. The study evaluated the usefulness of Masimo PVi as a non-invasive method of predicting preload responsiveness in patients treated with nasal high-flow therapy.

In April, the company received the FDA 510(k) clearance for its portable real-time capnograph with wireless Bluetooth connectivity, Radius PCG.

Price Performance

Shares of the company have lost 13.4% in the past year against the industry’s 13.6% rise and the S&P 500’s 44.7% growth.

Zacks Rank & Key Picks

Currently, Masimo carries a Zacks Rank #3 (Hold).

A couple of better-ranked stocks from the broader medical space are The Cooper Companies, Inc. COO and DaVita Inc. DVA, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Cooper Companies’ long-term earnings growth rate is estimated at 11%.

DaVita’s long-term earnings growth rate is estimated at 14.4%.

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