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Masimo's (MASI) Latest Tie-Up to Boost Patient Monitoring
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Masimo Corporation (MASI - Free Report) recently announced a joint agreement with GE HealthCare (GEHC - Free Report) . The collaboration is expected to integrate Masimo Signal Extraction Technology (SET) pulse oximetry into GE HealthCare’s Portrait Mobile wireless and wearable patient monitoring solution.
It should be noted that Portrait Mobile has been built as an Internet of Medical Things platform, using the latest cloud-native technology to provide an end-to-end experience for wearable continuous monitoring.
The agreement follows Portrait Mobile’s 510(k) clearance from the FDA in August 2023.
The latest joint agreement is expected to significantly strengthen Masimo’s patient monitoring business on a global scale.
Rationale Behind the Collaboration
By integrating Masimo SET, clinicians will likely be able to leverage Masimo’s Measure-through Motion and Low Perfusion oxygen saturation measurement technology to non-invasively detect and continuously monitor changes in patient status.
Currently, 30-day mortality after surgery represents the third-leading cause of death globally. Per Masimo, undetected patient deterioration, particularly post-surgery, can lead to hazardous yet preventable consequences. The uninterrupted flow of data and continuous measurement of vital signs (such as oxygen saturation and pulse rate) can aid healthcare providers in detecting patient decline as it happens, enabling timely intervention before a patient deteriorates.
Masimo’s management believes that its collaboration with GE HealthCare will enable it to provide integrated solutions to help customers and optimize patient care.
Per GE HealthCare’s management, clinicians and patients will likely benefit as Portrait Mobile enhances clinical decision-making for mobile patients and supports earlier detection of deterioration.
Industry Prospects
Per a report by Mordor Intelligence, the global patient monitoring market is anticipated to grow from $43,808.29 million in 2023 to $62,571.34 million by 2028 at a CAGR of approximately 7.4%. Factors like the rising burden of chronic diseases due to lifestyle changes, growth in the elderly population, increasing preference for home and remote monitoring and the ease of use of portable devices are expected to drive the market.
Given the market potential, the latest collaboration is likely to provide a significant boost to Masimo’s business.
Recent Developments
This month, Masimo reported its third-quarter 2023 results. Per management, its healthcare business is currently navigating a clear transition away from COVID-era conditions and is beginning to see customer behavior and sensor purchasing patterns shifting back to the pre-pandemic growth trend line.
Last month, Masimo announced that its non-invasive, continuous parameter designed to provide additional insight into a patient’s oxygen status in the moderate hyperoxic range under supplemental oxygen, ORi, had been granted a De Novo by the FDA.
The same month, Masimo received the CE mark under the European Union Medical Device Regulation for the LiDCO board-in-cable module.
Price Performance
Shares of Masimo have lost 30.3% in the past year compared with the industry’s 12.7% decline. The S&P 500 has witnessed 11.1% growth in the said time frame.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Currently, Masimo carries a Zacks Rank #4 (Sell).
A couple of better-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) and HealthEquity, Inc. (HQY - Free Report) .
DaVita, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 18.3%. DVA’s earnings surpassed estimates in all the trailing four quarters, with an average surprise of 36.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita has gained 25.9% against the industry’s 1.4% decline over the past year.
HealthEquity, flaunting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 26.7%. HQY’s earnings surpassed estimates in all the trailing four quarters, with an average of 13%.
HealthEquity has gained 13.9% against the industry’s 14.8% decline over the past year.
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Masimo's (MASI) Latest Tie-Up to Boost Patient Monitoring
Masimo Corporation (MASI - Free Report) recently announced a joint agreement with GE HealthCare (GEHC - Free Report) . The collaboration is expected to integrate Masimo Signal Extraction Technology (SET) pulse oximetry into GE HealthCare’s Portrait Mobile wireless and wearable patient monitoring solution.
It should be noted that Portrait Mobile has been built as an Internet of Medical Things platform, using the latest cloud-native technology to provide an end-to-end experience for wearable continuous monitoring.
The agreement follows Portrait Mobile’s 510(k) clearance from the FDA in August 2023.
The latest joint agreement is expected to significantly strengthen Masimo’s patient monitoring business on a global scale.
Rationale Behind the Collaboration
By integrating Masimo SET, clinicians will likely be able to leverage Masimo’s Measure-through Motion and Low Perfusion oxygen saturation measurement technology to non-invasively detect and continuously monitor changes in patient status.
Currently, 30-day mortality after surgery represents the third-leading cause of death globally. Per Masimo, undetected patient deterioration, particularly post-surgery, can lead to hazardous yet preventable consequences. The uninterrupted flow of data and continuous measurement of vital signs (such as oxygen saturation and pulse rate) can aid healthcare providers in detecting patient decline as it happens, enabling timely intervention before a patient deteriorates.
Masimo’s management believes that its collaboration with GE HealthCare will enable it to provide integrated solutions to help customers and optimize patient care.
Per GE HealthCare’s management, clinicians and patients will likely benefit as Portrait Mobile enhances clinical decision-making for mobile patients and supports earlier detection of deterioration.
Industry Prospects
Per a report by Mordor Intelligence, the global patient monitoring market is anticipated to grow from $43,808.29 million in 2023 to $62,571.34 million by 2028 at a CAGR of approximately 7.4%. Factors like the rising burden of chronic diseases due to lifestyle changes, growth in the elderly population, increasing preference for home and remote monitoring and the ease of use of portable devices are expected to drive the market.
Given the market potential, the latest collaboration is likely to provide a significant boost to Masimo’s business.
Recent Developments
This month, Masimo reported its third-quarter 2023 results. Per management, its healthcare business is currently navigating a clear transition away from COVID-era conditions and is beginning to see customer behavior and sensor purchasing patterns shifting back to the pre-pandemic growth trend line.
Last month, Masimo announced that its non-invasive, continuous parameter designed to provide additional insight into a patient’s oxygen status in the moderate hyperoxic range under supplemental oxygen, ORi, had been granted a De Novo by the FDA.
The same month, Masimo received the CE mark under the European Union Medical Device Regulation for the LiDCO board-in-cable module.
Price Performance
Shares of Masimo have lost 30.3% in the past year compared with the industry’s 12.7% decline. The S&P 500 has witnessed 11.1% growth in the said time frame.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Currently, Masimo carries a Zacks Rank #4 (Sell).
A couple of better-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) and HealthEquity, Inc. (HQY - Free Report) .
DaVita, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 18.3%. DVA’s earnings surpassed estimates in all the trailing four quarters, with an average surprise of 36.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita has gained 25.9% against the industry’s 1.4% decline over the past year.
HealthEquity, flaunting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 26.7%. HQY’s earnings surpassed estimates in all the trailing four quarters, with an average of 13%.
HealthEquity has gained 13.9% against the industry’s 14.8% decline over the past year.