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Masimo (MASI) Expands Partnership with Philips for W1 Watch
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Masimo (MASI - Free Report) announced that it has signed an agreement to expand its partnership with Royal Philips (PHG - Free Report) to augment patient monitoring capabilities in home telehealth applications. The partnership will integrate Masimo W1 watch’s advanced health tracking capabilities with Philips’s enterprise patient monitoring ecosystem to boost telemonitoring and telehealth.
Masimo uses SET pulse oximetry technology in its newly-launched, first wearable device — Masimo W1 — that will provide consumers with accurate, continuous health-related data, including oxygen level, hydration index, and pulse, heart, and respiration rates. The proven technology of the Masimo W1 watch will send insightful health data to Royal Philips’ patient monitoring ecosystem through Masimo’s secure health data cloud, patient information. These data will help in remote clinician surveillance.
The expansion of the partnership between Masimo and Royal Philips is likely to drive demand for the Masimo W1 watch as it is anticipated to bring the best of hospital monitoring to one’s home.
Please note that the Masimo W1 watch has obtained a CE mark for use in medical application. A regulatory application for the same is pending in the United States for FDA clearance.
The partnership brings together extensive expertise in monitoring, connectivity, and automation of two global medical technology leaders — MASI and PHG. The Masimo’s watch is proven to offer accurate, continuous pulse oximetry measurements and other insightful health data. Hospital clinicians will be able to monitor their patients’ key health markers seamlessly and remotely using Philips’ patient monitoring ecosystem. This will help in keeping track of patients’ health while they continue to move inside their homes and go about their daily lives. The system will also help clinicians to advise for discharging patients as their vital signs can now be monitored from anywhere using Masimo’s watch while Philips dashboards will provide physiological status.
The companies believe that this combination of monitoring and connectivity technologies will likely enable numerous opportunities supporting early discharge initiatives, hospital-at-home programs, and chronic illness management, as it will help detect possible patient deterioration and make more informed interventions.
This deal between Masimo and Royal Philips is built with a multi-year view of creating an open ecosystem of information that will bring the best of hospital monitoring to one’s home.
Industry Prospects
Per a report by technavio, the wearables market share in the United States is expected to increase by $6.85 billion from 2021 to 2026 at a compound annual growth rate of 8.9%. Factors like preference for wearable electronic devices for payment and integration of artificial intelligence in wearable medical devices are expected to drive the demand for these devices.
Given the market potential, the latest partnership between Masimo and Royal Philips is likely to fuel the demand for Masimo W1 watches, driving is topline going forward.
Notable Developments
Earlier this month, Masimo won a favorable ruling from the U.S. Administrative Law Judge in Washington, D.C. in a suit against Apple Inc. (AAPL - Free Report) . Masimo had filed a complaint in 2021 alleging that Apple Inc. had infringed a number of Masimo’s patents including one of its pulse oximeter patents. The recent ruling states that Apple Inc. has infringed the patent related to pulse oximeter by importing and selling certain Apple Watches with light-based pulse oximetry functionality and components within the United States. AAPL incorporated pulse oximeter sensor for the first time in the Apple Watch Series 6 that was launched in 2020. Apple Inc. continues to use the technology in its upgraded watch versions.
In December, Masimo announced the full-market release of the Hydration Index (Hi) for the Masimo W1 watch. Hi was first announced last year in a limited market release, which is expected to provide an index that tracks an individual’s hydration levels.
Earlier in January, Masimo announced that researchers have found that continuous SpHb monitoring through Masimo Pulse CO-Oximetry indicated clinically acceptable accuracy of Hb measurement compared to invasive Hb, even at low Hb levels, in patients undergoing CS with antepartum hemorrhage.
Price Performance
Shares of Masimo gained 14.4% in the past six months compared with the industry’s increase of 0.4%. The S&P 500 Index, however, declined 3.4% in the same time period.
Image Source: Zacks Investment Research
Zacks Rank & Stock to Consider
Currently, Masimo carries a Zacks Rank #3 (Hold).
Hologic (HOLX - Free Report) is a better-ranked stock from the same industry, carrying a Zacks Rank #2 (Buy).
Hologic has an estimated long-term growth rate of 15.2%. HOLX’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 46.08%.
Image: Bigstock
Masimo (MASI) Expands Partnership with Philips for W1 Watch
Masimo (MASI - Free Report) announced that it has signed an agreement to expand its partnership with Royal Philips (PHG - Free Report) to augment patient monitoring capabilities in home telehealth applications. The partnership will integrate Masimo W1 watch’s advanced health tracking capabilities with Philips’s enterprise patient monitoring ecosystem to boost telemonitoring and telehealth.
Masimo uses SET pulse oximetry technology in its newly-launched, first wearable device — Masimo W1 — that will provide consumers with accurate, continuous health-related data, including oxygen level, hydration index, and pulse, heart, and respiration rates. The proven technology of the Masimo W1 watch will send insightful health data to Royal Philips’ patient monitoring ecosystem through Masimo’s secure health data cloud, patient information. These data will help in remote clinician surveillance.
The expansion of the partnership between Masimo and Royal Philips is likely to drive demand for the Masimo W1 watch as it is anticipated to bring the best of hospital monitoring to one’s home.
Please note that the Masimo W1 watch has obtained a CE mark for use in medical application. A regulatory application for the same is pending in the United States for FDA clearance.
Masimo Corporation Price
Masimo Corporation price | Masimo Corporation Quote
Significance of the Partnership
The partnership brings together extensive expertise in monitoring, connectivity, and automation of two global medical technology leaders — MASI and PHG. The Masimo’s watch is proven to offer accurate, continuous pulse oximetry measurements and other insightful health data. Hospital clinicians will be able to monitor their patients’ key health markers seamlessly and remotely using Philips’ patient monitoring ecosystem. This will help in keeping track of patients’ health while they continue to move inside their homes and go about their daily lives. The system will also help clinicians to advise for discharging patients as their vital signs can now be monitored from anywhere using Masimo’s watch while Philips dashboards will provide physiological status.
The companies believe that this combination of monitoring and connectivity technologies will likely enable numerous opportunities supporting early discharge initiatives, hospital-at-home programs, and chronic illness management, as it will help detect possible patient deterioration and make more informed interventions.
This deal between Masimo and Royal Philips is built with a multi-year view of creating an open ecosystem of information that will bring the best of hospital monitoring to one’s home.
Industry Prospects
Per a report by technavio, the wearables market share in the United States is expected to increase by $6.85 billion from 2021 to 2026 at a compound annual growth rate of 8.9%. Factors like preference for wearable electronic devices for payment and integration of artificial intelligence in wearable medical devices are expected to drive the demand for these devices.
Given the market potential, the latest partnership between Masimo and Royal Philips is likely to fuel the demand for Masimo W1 watches, driving is topline going forward.
Notable Developments
Earlier this month, Masimo won a favorable ruling from the U.S. Administrative Law Judge in Washington, D.C. in a suit against Apple Inc. (AAPL - Free Report) . Masimo had filed a complaint in 2021 alleging that Apple Inc. had infringed a number of Masimo’s patents including one of its pulse oximeter patents. The recent ruling states that Apple Inc. has infringed the patent related to pulse oximeter by importing and selling certain Apple Watches with light-based pulse oximetry functionality and components within the United States. AAPL incorporated pulse oximeter sensor for the first time in the Apple Watch Series 6 that was launched in 2020. Apple Inc. continues to use the technology in its upgraded watch versions.
In December, Masimo announced the full-market release of the Hydration Index (Hi) for the Masimo W1 watch. Hi was first announced last year in a limited market release, which is expected to provide an index that tracks an individual’s hydration levels.
Earlier in January, Masimo announced that researchers have found that continuous SpHb monitoring through Masimo Pulse CO-Oximetry indicated clinically acceptable accuracy of Hb measurement compared to invasive Hb, even at low Hb levels, in patients undergoing CS with antepartum hemorrhage.
Price Performance
Shares of Masimo gained 14.4% in the past six months compared with the industry’s increase of 0.4%. The S&P 500 Index, however, declined 3.4% in the same time period.
Image Source: Zacks Investment Research
Zacks Rank & Stock to Consider
Currently, Masimo carries a Zacks Rank #3 (Hold).
Hologic (HOLX - Free Report) is a better-ranked stock from the same industry, carrying a Zacks Rank #2 (Buy).
Hologic has an estimated long-term growth rate of 15.2%. HOLX’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 46.08%.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.