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Masimo (MASI) Announces Full Market RollOut of SafetyNet-OPEN

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Masimo Corporation (MASI - Free Report) recently 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 battle against COVID-19 and other infectious diseases, such as seasonal flu.

For investors’ notice, Masimo had initially launched the product in June 2020. In the initial months of the coronavirus outbreak, Masimo developed the Masimo SafetyNet remote patient management solution. It is currently being used by several hospitals all over the world to ensure the safety of patients and frontline workers.

This aforementioned announcement is expected to boost Masimo’s non-invasive patient-monitoring solutions portfolio.

More on the Product

It is important to note here that the SafetyNet-OPEN solution not only enables organizations to bring back employees to their workplaces responsibly but also help them function safely. The solution is customized toeach organization’s safety protocols and requirements, and is equipped to cover all the phases of back-to-work management comprising risk monitoring, exposure contact tracking and recovery management.

Masimo SafetyNet-OPEN aids organizations in detecting those who are most susceptible to COVID-19 or other infections. It also helps tracing possible exposures to restrain the spread of the virus and screen the concerned users’ vital signs like temperature. This, in turn, helps detecting the onset of fever and arterial oxygen saturation for the tell-tale signs of the pandemic.

Based on answers to daily surveys and the physiological data collected from connected monitoring devices, users receive a personalized daily risk score with automated instructions to stay home, get tested or seek treatment, tailor-made for each organization’s safety guidelines, back-to-work procedures and the changing local health authority directives.

With the help of SafetyNet-OPEN, Masimo managed to bring together decades of experience in patient monitoring,driven by its latest innovations in automation and connectivity. This, in turn, will better equip organizations to confront the challenges posed by the pandemic and manage the future deadlocks more efficiently.

Notable Developments

In December 2020, Masimo announced that it is lending support to Renown Health by helping clinicians address the COVID-19 surge. Masimo SafetyNet is being utilized to provide care for the COVID-infected patients to enable them to recover within the safe confines and comforts of their homes. Further, the telehealth solution can assist clinicians to identify a possible deterioration in home-based patients’ vital signs and intervene proactively, before the situation worsens.

In October, the company 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, thus making it easier for utilization in both hospitals and by patients at home.

Market Prospects

Per a Grand View Research report, the global remote patient monitoring system market is anticipated to reach $1.8 billion, seeing a CAGR of 13.5% between 2019 and 2026. The growing incidence of cardiovascular diseases, increase in geriatric population, and demand for independent and healthy living are likely to drive the market.

Price Performance

Over the past year, shares of this presently Zacks Rank #3 (Hold) company have soared 50.7% compared with the industry’s growth of 25.7%.

Stocks to Consider

Some better-ranked stocks from the broader medical space are Align Technology (ALGN - Free Report) , Hologic (HOLX - Free Report) and Abbott Laboratories (ABT - Free Report) . While Align Technology  currently sports a Zacks Rank #1 (Strong Buy), the other two  presently carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Align Technology has a projected long-term earnings growth rate of 19.8%.

Hologic has a projected long-term earnings growth rate of 15.4%.

Abbott has an estimated long-term earnings growth rate of 14.6%.

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