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Masimo (MASI), UCHealth Unite to Improve Care With Telehealth
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Masimo Corporation (MASI - Free Report) and UCHealth recently announced their strategic partnership to improve the standard of patient care while utilizing the newest telehealth and virtual care technologies.
The partnership is intended to take advantage of the unique expertise of both companies and work toward their shared objectives of enhancing patient outcomes, cutting healthcare costs, and changing the way that care is delivered both inside and outside of hospitals. It places a special emphasis on developing technology-enabled care, including virtual and remote care.
Price Performance
For the past six months, MASI’s shares have gained 19.1% compared with the industry’s rise of 9.4%. The S&P 500 increased 12.7% in the same time frame.
Image Source: Zacks Investment Research
More on the News
Masimo is a multinational medical technology firm that develops and produces a broad range of cutting-edge sensors, patient monitors, automation, and connection solutions, among other cutting-edge monitoring technologies.
UCHealth is a cutting-edge, nonprofit healthcare organization that provides the best possible medical care together with an outstanding patient experience. UCHealth operates 14 acute-care hospitals, employs 33,000 people, and has hundreds of clinicians spread throughout Western Nebraska, Southern Wyoming, and Colorado.
The collaboration between Masimo and UCHealth is likely to offer advanced virtual care and remote monitoring options made possible through advanced analytics, patient flow management, and enterprise patient monitoring systems.
With the partnership, Masimo is looking forward to utilize its virtual care technologies to complement UCHealth’s proficiency with evidence-based clinical workflow technology.
The companies are also likely to partner on cutting-edge provider-to-provider and direct-to-consumer services to launch virtual healthcare services with an emphasis on managing chronic and episodic care.
Industry Prospects
Per a report by Grand View Research, the global telehealth market size was valued at $101.2 billion in 2023 and is expected to grow at 24.3% from 2024 to 2030.
The market growth is driven by advancements in technology, including improved Internet connectivity and the adoption of smartphones, which contribute to the expansion of telehealth by making healthcare services more accessible and convenient for patients. Other growth factor includes the growing demand for remote healthcare services, mainly due to the COVID-19 pandemic, where the need for virtual consultations and remote monitoring has increased.
With the given market potential for telehealth services, Masimo’s collaboration with UCHealth is likely to boost its business and generate additional revenues.
Notable Developments
Recently, Masimo announced the FDA clearance of its Masimo SET-powered MightySat Medical Pulse Oximeter, available Over-The-Counter (OTC) to consumers without a prescription, which becomes the first FDA-approved medical fingertip pulse oximeter that customers can directly avail without the need for any formal prescription.
In December 2023, Masimo announced the receipt of the FDA’s clearance for Stork for prescription use with healthy and sick infants aged 0-18 months of age. Stork, Masimo’s innovative baby monitoring system, leverages its advanced sensor technology already in use for monitoring in hospitals.
In November 2023, Masimo announced a joint agreement with GE HealthCare. The collaboration is expected to integrate Masimo SET pulse oximetry into GE HealthCare’s Portrait Mobile wireless and wearable patient monitoring solution.
MASI sports a Zacks Rank #1 (Strong Buy) at present.
Some other top-ranked stocks to consider in the broader medical space are Universal Health Services (UHS - Free Report) , Integer Holdings Corporation (ITGR - Free Report) and Elevance Health, Inc (ELV - Free Report) .
Universal Health Services, carrying a Zacks Rank #2 (Buy) at present, has an estimated growth rate of 4.4% for 2024. UHS’s earnings surpassed estimates in all the trailing four quarters, delivering an average surprise of 5.47%. You can see the complete list of today’s Zacks #1 Rank stocks here.
UHS’s shares have gained 1.9% in the past six months against the industry’s 5% decline.
Integer Holdings, presently carrying a Zacks Rank of 2, has an estimated long-term growth rate of 15.8%. ITGR’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 11.9%.
Integer Holdings’ shares have rallied 43.5% in the past year against the industry’s 3.7% decline.
Elevance Health, carrying a Zacks Rank of 2, reported fourth-quarter 2023 adjusted earnings per share of $5.62, beating the Zacks Consensus Estimate by 1.3%. Revenues of $42.45 billion outpaced the consensus mark by 1.5%.
Elevance Health has a long-term estimated growth rate of 12%. ELV’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 3.1%.
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Masimo (MASI), UCHealth Unite to Improve Care With Telehealth
Masimo Corporation (MASI - Free Report) and UCHealth recently announced their strategic partnership to improve the standard of patient care while utilizing the newest telehealth and virtual care technologies.
The partnership is intended to take advantage of the unique expertise of both companies and work toward their shared objectives of enhancing patient outcomes, cutting healthcare costs, and changing the way that care is delivered both inside and outside of hospitals. It places a special emphasis on developing technology-enabled care, including virtual and remote care.
Price Performance
For the past six months, MASI’s shares have gained 19.1% compared with the industry’s rise of 9.4%. The S&P 500 increased 12.7% in the same time frame.
Image Source: Zacks Investment Research
More on the News
Masimo is a multinational medical technology firm that develops and produces a broad range of cutting-edge sensors, patient monitors, automation, and connection solutions, among other cutting-edge monitoring technologies.
UCHealth is a cutting-edge, nonprofit healthcare organization that provides the best possible medical care together with an outstanding patient experience. UCHealth operates 14 acute-care hospitals, employs 33,000 people, and has hundreds of clinicians spread throughout Western Nebraska, Southern Wyoming, and Colorado.
The collaboration between Masimo and UCHealth is likely to offer advanced virtual care and remote monitoring options made possible through advanced analytics, patient flow management, and enterprise patient monitoring systems.
With the partnership, Masimo is looking forward to utilize its virtual care technologies to complement UCHealth’s proficiency with evidence-based clinical workflow technology.
The companies are also likely to partner on cutting-edge provider-to-provider and direct-to-consumer services to launch virtual healthcare services with an emphasis on managing chronic and episodic care.
Industry Prospects
Per a report by Grand View Research, the global telehealth market size was valued at $101.2 billion in 2023 and is expected to grow at 24.3% from 2024 to 2030.
The market growth is driven by advancements in technology, including improved Internet connectivity and the adoption of smartphones, which contribute to the expansion of telehealth by making healthcare services more accessible and convenient for patients. Other growth factor includes the growing demand for remote healthcare services, mainly due to the COVID-19 pandemic, where the need for virtual consultations and remote monitoring has increased.
With the given market potential for telehealth services, Masimo’s collaboration with UCHealth is likely to boost its business and generate additional revenues.
Notable Developments
Recently, Masimo announced the FDA clearance of its Masimo SET-powered MightySat Medical Pulse Oximeter, available Over-The-Counter (OTC) to consumers without a prescription, which becomes the first FDA-approved medical fingertip pulse oximeter that customers can directly avail without the need for any formal prescription.
In December 2023, Masimo announced the receipt of the FDA’s clearance for Stork for prescription use with healthy and sick infants aged 0-18 months of age. Stork, Masimo’s innovative baby monitoring system, leverages its advanced sensor technology already in use for monitoring in hospitals.
In November 2023, Masimo announced a joint agreement with GE HealthCare. The collaboration is expected to integrate Masimo SET pulse oximetry into GE HealthCare’s Portrait Mobile wireless and wearable patient monitoring solution.
Masimo Corporation Price
Masimo Corporation price | Masimo Corporation Quote
Zacks Rank & Other Stocks to Consider
MASI sports a Zacks Rank #1 (Strong Buy) at present.
Some other top-ranked stocks to consider in the broader medical space are Universal Health Services (UHS - Free Report) , Integer Holdings Corporation (ITGR - Free Report) and Elevance Health, Inc (ELV - Free Report) .
Universal Health Services, carrying a Zacks Rank #2 (Buy) at present, has an estimated growth rate of 4.4% for 2024. UHS’s earnings surpassed estimates in all the trailing four quarters, delivering an average surprise of 5.47%. You can see the complete list of today’s Zacks #1 Rank stocks here.
UHS’s shares have gained 1.9% in the past six months against the industry’s 5% decline.
Integer Holdings, presently carrying a Zacks Rank of 2, has an estimated long-term growth rate of 15.8%. ITGR’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 11.9%.
Integer Holdings’ shares have rallied 43.5% in the past year against the industry’s 3.7% decline.
Elevance Health, carrying a Zacks Rank of 2, reported fourth-quarter 2023 adjusted earnings per share of $5.62, beating the Zacks Consensus Estimate by 1.3%. Revenues of $42.45 billion outpaced the consensus mark by 1.5%.
Elevance Health has a long-term estimated growth rate of 12%. ELV’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 3.1%.