Masimo's (MASI) Rad-G with Temperature Receives CE Marking
Masimo Corporation MASI recently announced that the Rad-G with Temperature has received the CE marking. The device is a handheld one offering clinically proven Signal Extraction Technology (SET) pulse oximetry, respiration rate from the pleth (RRp) and other key parameters along with clinical-grade, non-contact infrared thermometry.
Rad-G with Temperature helps clinicians to cater to patients with no access to pulse oximetry, not even SET pulse oximetry, through an accessible, superior-quality care solution.
While Rad-G has been approved by the FDA and is available in the United States, Rad-G with Temperature has not yet received the approval and is currently not available in the country.
With this development, Masimo is likely to boost its flagship SET pulse oximeter solution, which in turn can drive Product Revenues.
Rad-G with Temperature at a Glance
At first Rad-G with Temperature was developed in collaboration with The Bill & Melinda Gates Foundation as a spot-check device to screen pneumonia. This device, through expansion of its predecessor’s abilities, helps in measuring temperature (with the addition of alarms), thereby offering both continuous monitoring and spot-check measurement.
On the back of its integration into the Rad-G platform, this device aids in the seamless and efficient screening of temperature of several people, through one-touch operation, along with oxygen saturation, respiration rate and more in the same session by utilizing a single device.
The device has universal direct-connect Rad-G reusable sensor, which can be utilized for monitoring adult, pediatric and infant patients. This helps in elimination of the requirement to stock and carry multiple sensor types, thereby enhancing the device’s versatility particularly in more challenging field settings.
Significance of the Rad-G with Temperature
Globally, there has always been a high demand for tools and solutions that aid in continuous monitoring of key vital signs, such as temperature, and can help healthcare providers and patients in their combat against illnesses ranging from pneumonia to congenital heart disease.
So apart from providing an accessible care solution, the temperature measurement feature makes the device more versatile, while simplifying the assessment of several crucial vital signs.
Recent Developments
In February 2021, Masimo announced the full commercial release of Masimo SafetyNet-OPEN. It is a web and mobile-based app solution that enables businesses, schools and other organizations to screen, track and manage users as they try to counter COVID-19 and other infectious diseases, such as seasonal flu.
In January, the company introduced iSirona, a compact, versatile medical device connectivity hub globally. The iSirona hub has been developed to maximize interoperability across continuum of care, with the capability of connecting up to six medical devices and automatically routing the data to the Hospital Automation platform.
In December 2020, Masimo presented the findings of an abstract study, which explored the efficiency of Masimo noninvasive and continuous hemoglobin monitoring SpHb as part of the transfusion management of pediatric patients going through a major surgery. This data should be a major breakthrough for Masimo’s Signal Extraction Technology (SET) Pulse Oximetry portfolio.
Market Prospects
Per a Grand View Research report, the global pulse oximeters’ market size was estimated at $1.9 billion in 2019 and is projected to see a CAGR of 6.4% during the 2020-2027 forecast period.
Price Performance
Over the past year, shares of the company have gained 35% compared with the industry’s rally of 27.1%.
Zacks Rank and Key Picks
Currently, Masimo carries a Zacks Rank of 3 (Hold).
Some better-ranked stocks from the broader medical space are HillRom Holdings, Inc. HRC, Abbott Laboratories ABT and McKesson Corporation MCK, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
HillRom Holdings has a projected long-term earnings growth rate of 7.3%.
Abbott has an estimated long-term earnings growth rate of 14.1%.
McKesson has a projected long-term earnings growth rate of 7.2%.
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