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Masimo Unveils New Wearable Wireless Continuous Thermometer

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Masimo Corporation (MASI - Free Report) recently introduced Radius Tº Continuous Thermometer — a wearable, wireless sensor — that offers customers hassle-free continuous body temperature measurements. For investors’ note, earlier this year, Masimo unveiled this thermometer as part of the Masimo SafetyNet remote patient management solution, thereby making it easier for utilization in both hospitals and by patients at home.

Notably, Radius Tº does not have FDA 510(k) approval and is marketed under the FDA’s Enforcement Policy for Clinical Electronic Thermometers during the COVID-19 pandemic. However, the device has received CE mark approval.

With this launch, Masimo is likely to enhance its commitment toward patient monitoring, while boosting the product portfolio.

Radius Tº Continuous Thermometer and its Benefits

In comparison to spot-check, episodic thermometers, the Radius Tº measures body temperature continuously, while transmitting data and customizable temperature notifications to the user’s smartphone - all in a simplified manner. This in turn allows caregivers, including parents, to monitor loved ones’ temperatures even when they are asleep.

Radius Tº uses a small, unnoticeable, wearable sensor that can be applied easily to anyone — right from children to elderly adults — and no action is necessary after initial application to the skin. By offering continued insight into changes in the users’ temperature and helping them understand which direction the temperature is trending, the thermometer helps consumers to get rid of manual measurements. This apart, Radius Tº makes use of algorithms to offer body temperature measurements for users five years or older that approximate oral temperature and not only external skin temperature.

With the Radius Tº Continuous Thermometer, Masimo has been able to expand and strengthen the growing line of consumer solutions that comprises MightySat and Masimo Sleep. The company brings in its expertise and experience with respect to consumer solutions, the Radius Tº being no exception, thereby ensuring accuracy and reliability in the measurement of physiological data from the hospital to the home.

Market Prospects

Per a report by Grand View Research, the global remote patient monitoring system market is anticipated to reach $1.8 billion by 2026, witnessing a CAGR of 13.5% during the forecast period (2019-2026). Growing incidence of cardiovascular diseases, increase in geriatric population, and demand for independent and healthy living are likely to drive the market.

Recent Developments

This month, Masimo received FDA clearance of the Rad-G Pulse Oximeter, a rugged handheld device offering clinically proven Signal Extraction Technology pulse oximetry, respiration rate from the pleth (RRp), and other crucial parameters for spot-checking as well as continuous monitoring. This will help clinicians to evaluate patients quickly and arrive at informed care decisions wherever pulse oximetry or vital signs checking is required in a compact, portable form factor.

In September, the company announced that O3 Regional Oximetry has received FDA approval for expanded use in monitoring somatic tissue oxygenation saturation in all patient population and assessing relative changes in hemoglobin, oxyhemoglobin, as well as deoxyhemoglobin in adult brains. With this FDA approval, O3 is now cleared for use in both cerebral and somatic applications in the United States as well as other countries, with respect to all patient population.

Price Performance

Over the past year, shares of this Zacks Rank #3 (Hold) company have surged 70.2% compared with the industry’s 25.4% rally.

Stocks to Consider

Some better-ranked stocks from the broader medical space include Biolase, Inc. (BIOL - Free Report) , Boston Scientific Corporation (BSX - Free Report) and Thermo Fisher Scientific Inc. (TMO - Free Report) . While both Biolase and Boston Scientific carry a Zacks Rank #2 (Buy), Thermo Fisher sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Biolase has a projected long-term earnings growth rate of 15%.

Boston Scientific has an estimated long-term earnings growth rate of 10%.

Thermo Fisher has a projected long-term earnings growth rate of 15.5%.

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