Masimo Corporation (MASI - Free Report) recently announced a collaboration with the Saudi Arabia Ministry of Health (“MOH”) to implement a solution designed to streamline the process of critical congenital heart disease (“CCHD”) screening of newborns, using Masimo SET.
Notably, Saudi Arabia commenced a mandatory CCHD screening program for all newborns, using the Masimo Eve Newborn Screening Application on the Radical-7 Pulse CO-Oximeters in 2016. In 2018, Eve on Rad-97 Pulse CO-Oximeters was added to the program.
It is encouraging to note that in last June, the UAE Ministry of Health & Prevention adopted Masimo’s flagship Eve application for CCHD screening in newborns. (Read More: MOHAP Selects Masimo's Eve for CCHD Screening in UAE)
In the recent past, Eve received the CE marking. (Read More: Masimo's Eve Gets CE Mark, Bolsters CCHD Diagnosis)
Masimo’s Eve combines the power of Masimo SET Measure-through Motion and Low Perfusion pulse oximetry with a pre-ductal to post-ductal synchronization algorithm designed to reduce calculation errors. This cost-effective application is available on the Radical-7 Pulse CO-Oximeter.
Studies have shown that Masimo SET pulse oximetry can improve CCHD screening, helping to save many newborns’ lives while reducing the cost of care.
CCHD affects approximately 2-3 newborns per 1000 births and requires intervention soon after birth to prevent significant morbidity or mortality.
ResearchAndMarkets opines that the global pulse oximetry market is likely to grow at a CAGR of 6.2% between 2019 and 2025.
Hence, the latest development has been a well-timed one for Masimo.
Masimo Rides on Developments
In recent times, MedTech company, based in California, has seen a slew of developments.
In February, Masimo announced the launch of Doctella, the home-based patient engagement and remote care automation platform, to provide end-to-end home care solution, allowing clinicians to create and manage treatment plans.
In the last month, Masimo announced FDA clearance of the measurement of respiration rate from the pleth (RRp) on the MightySat Rx spot-check fingertip pulse oximeter.
Moreover, Masimo’s Iris Device Management System has been recently launched in the United States. Notably, the system is designed to streamline management of Masimo devices used in a hospital.
Reflective of the above developments, shares of the Zacks Rank #2 (Buy) company have rallied 50.8% compared with the industry’s 10.1% growth and the S&P 500 index’s 3% return, in a year.
Other Key Picks
Some other top-ranked stocks in the broader medical space are Penumbra, Inc. (PEN - Free Report) , Wright Medical Group N.V. (WMGI - Free Report) and DexCom. Inc. (DXCM - Free Report) . Notably, each of these stocks currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Penumbra’s long-term earnings growth rate is expected to be 20%.
Wright Medical’s long-term earnings growth rate is projected to be 11%.
DexCom’s fourth-quarter earnings is projected to grow 56.3%.
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