Masimo Corporation ( MASI Quick Quote MASI - Free Report) recently 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.
For investor’s note, Masimo Hospital Automation platform is a customizable, versatile, and future-focused connectivity solution that ensures interoperability and secure flow of data throughout hospital systems.
With the launch of iSirona, Masimo is likely to strengthen its product portfolio.
More on the News
On the back of the robust and compact design, iSirona is capable of connecting multiple patient monitors, anesthesia machines, pumps and other medical devices in operating rooms and ICUs, where there is lack of space. Notably, iSirona – the newest member of the Hospital Automation platform – enables easy and fast connectivity wherever necessary by delivering offline data online and simplifying workflow to help clinicians boost patient care.
In fact, Masimo Root, a multimodal patient monitoring and connectivity platform, augmented by iSirona, aids in keeping accurate record of all patient data and presenting it to clinicians in the most suitable ways.
Industry Prospects Per a report by Fortune Business insights, the global medical device market size was valued at $425.5 billion and is expected to reach $612.7 billion by 2025, at a CAGR of 5.4%. Technological advancement and rising demand for innovative therapies to overcome unmet healthcare needs are driving this market. Notable Developments
In December 2020, Masimo announced that it is lending support to Renown Health by helping clinicians to address the COVID-19 surge through use of Masimo SafetyNet. Masimo SafetyNet is being utilized to provide care for COVID-19 infected patients to recover in the safety of their homes.
In November 2020, Masimo announced the receipt of CE mark for its Radius VSM, a wearable, tetherless vital signs monitor, and has been released in limited European markets. It offers a wide variety of physiological measurements, including continuous SET pulse oximetry, non-invasive blood pressure, body temperature, respiration rate, and electrocardiography.
Shares of the company have gained 50.3% in a year’s time compared with the
industry’s growth of 22.1%. Zacks Rank and Key Picks
Currently, Masimo carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space include
Cantel medical Corp. ( CMD Quick Quote CMD - Free Report) , Hologic, Inc. ( HOLX Quick Quote HOLX - Free Report) and Delcath Systems, Inc. ( DCTH Quick Quote DCTH - Free Report) . While Cantel Medical and Hologic sport a Zacks Rank #1 (Strong Buy), Delcath Systems carries a Zacks Rank #2 (Buy). You can see the complete list of Zacks #1 Rank stocks here.
Cantel Medical has an estimated long-term earnings growth rate of 19%.
Hologic has an estimated long-term earnings growth rate of 17%.
Delcath Systems has a projected long-term earnings growth rate of 69%.
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