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Masimo (MASI) Bridge Hailed as Opioid Substitute in New Study

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Masimo Corporation (MASI - Free Report) recently announced the findings of a study published in the Journal of Pain & Relief wherein researchers explored the utility of Masimo Bridge in reducing postoperative opioid needs in patients undergoing kidney donor surgery. Bridge, an auricular field nerve stimulator, was found to be associated with significant reductions in opioid use and pain after surgery.

Based on the positive outcomes, researchers concluded that Bridge may represent a complementary approach to lower postoperative opioid requirement.

For investors’ note, Masimo Bridge is the first evidence-based, drug-free non-surgical device of its kind, and has been cleared by the FDA for use in the treatment of clinical symptoms associated with opioid withdrawal. However, it has not yet been cleared by the FDA for postoperative pain management.

With the latest favorable study outcome, Masimo’s Neuromodulation Solution business is expected to be significantly boosted worldwide.

Significance of the Study

Per current estimates, over 83,000 people died in the United States alone from drug overdoses last year, with almost 63,000 of them killed by opioids, and many of them from prescription opioids used post-surgery. Management is optimistic about identifying opioid overdoses early enough to save lives and also expects to be able to avoid the unnecessary use of opioids altogether.

The study sought to assess whether the technique of percutaneous nerve field stimulation might be beneficial during the postoperative period and be an alternative to opioid use. Although opioids are still considered to be required after kidney donor surgery, they have serious proven side effects, including respiratory depression, postoperative nausea and vomiting. Further, opioids expose the donors to an unnecessary risk of opioid use disorder (“OUD”).

Given the current opioid epidemic and associated risk of OUD in surgical patients, researchers are hopeful that the Bridge device may be of significant value in controlling postoperative opioid consumption and pain.

Industry Prospects

Per a study by Verified Market Research, the global neurostimulation devices market was valued at $11.61 billion in 2020 and is anticipated to reach $27.73 billion by 2028 at a CAGR of 11.5%. Factors like rising prevalence of neurological disorders and increasing demand for minimally invasive technologies are likely to drive the market.

Given the market potential, the positive study outcome is likely to provide a significant boost to Masimo’s business globally.

Notable Developments

Of late, Masimo has witnessed a few notable developments across its business.

The company, in July, announced robust second-quarter 2021 results where it recorded a strong rebound in sensor sales (on the back of steady expansion of monitoring in hospitals), along with robust order shipments.

The same month, Masimo announced the release of its latest and most advanced rainbow SET board, MX-7. The board has been engineered for integration into numerous multi-parameter monitors available with the company’s various original equipment manufacturing partners.

Also in July, the company announced favorable findings of a study published in the Journal of Critical Care. The study assessed the ability of two parameters (Patient State Index and Suppression Ratio) provided by Masimo SedLine brain function monitoring to predict neurological outcomes and long-term survival in post-cardiac-arrest ICU patients.

Price Performance

Shares of the company have gained 26.4% in the past year compared with the industry’s 14.1% growth and the S&P 500's 34.4% rise.

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Zacks Rank & Key Picks

Currently, Masimo carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader medical space are Henry Schein, Inc. (HSIC - Free Report) , IDEXX Laboratories, Inc. (IDXX - Free Report) and Intuitive Surgical, Inc. (ISRG - Free Report) .

Henry Schein’s long-term earnings growth rate is estimated at 13.9%. The company presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

IDEXX’s long-term earnings growth rate is estimated at 19.9%. It currently has a Zacks Rank #2.

Intuitive Surgical’s long-term earnings growth rate is estimated at 9.7%. It currently carries a Zacks Rank #2.