Masimo Corporation (MASI - Free Report) recently announced that it has received FDA clearance for its O3 Regional Oximetry for utilization on neonatal and infant patients weighing less than 10 kg. This FDA nod will prove beneficial for the company as O3 Regional Oximetry uses near-infrared spectroscopy (NIRS) to enable monitoring of cerebral tissue oxygen saturation (rSO2) and will help in delivering accurate measurement pertaining to neonatal patients.
Notably, the FDA clearance will expand the O3 platform and the benefits of monitoring with O3 will now be accessible to patients of all ages – from neonates to adults.
Few Words About O3 Regional Oximetry
O3 Regional Oximetry — one of Masimo’s monitoring solutions — helps in monitoring cerebral oxygenation in cases wherein peripheral pulse oximetry alone might not be enough to fully indicate oxygen in the brain. The solution seamlessly integrates with the Root platform along with SedLine brain function monitoring, thereby delivering a more comprehensive brain monitoring solution.
With the usage of NIRS, the clinicians will be able to monitor rSO2 on both sides of the brain and this will be specifically helpful in offering an insight into neonatal patient status primarily because neonatal pathology is mostly brain-related.
Masimo’s Root Platform at a Glance
Notably, Masimo’s Root platform is a very powerful, expandable patient monitoring and connectivity hub that brings together a range of technologies, devices, and systems to offer multimodal monitoring and connectivity solutions in a single, clinician-centric platform.
O3 is available as a Masimo Open Connect (MOC-9) module for the Root Patient Monitoring and Connectivity Platform.
Root’s plug-and-play expansion capabilities help in simultaneous monitoring of O3 and other measurements like SET Measure-through Motion and Low Perfusion pulse oximetry.
Masimo: A Leading Player in Pulse Oximetry
Masimo is a global pioneer in the field of highly-advanced non-invasive monitoring technologies. The company’s flagship Signal Extraction Technology (SET) pulse oximetry or SET pulse oximeter solution successfully eliminates the limitations of conventional mediums. Masimo’s rainbow SET technology has been gaining traction driven by rapid product development.
Together with the proven benefits of Masimo SET Measure-through Motion and Low Perfusion pulse oximetry, O3 can help clinicians get a far more expanded visibility of neonatal oxygenation status.
Patient Monitoring in Focus
Masimo is touted to be the most innovative company in the patient monitoring space. According to report by Research and Markets, the global market for patient monitoring devices will witness a CAGR of 8.2% to nearly $30.7 billion by 2022. Growing economy, rise in the prevalence of chronic diseases and increasing adoption of cost-effective remote patient monitoring devices will drive growth in this market.
The company remains committed toward enhancing patient monitoring and its efforts reflect the same. In non-invasive patient monitoring, the company’s Patient SafetyNet, Rainbow acoustic monitoring, SedLine brain function monitoring, Capnography and gas monitoring deserve mention.
Additionally, Masimo’s program to improve opioid safety via innovative monitoring technology for both post-surgical wards and home use deserves mention in this regard.
Zacks Rank and Price Performance
Currently Masimo carries a Zacks Rank #2 (Buy). Shares of Masimo have gained 40% in a year’s time, against the industry’s decline of 2.7%. The stock has also outpaced the S&P 500 index’s rally of 2.7%.
Other Key Picks
Some other top-ranked stocks from the broader medical space are Cardiovascular Systems, Inc. (CSII - Free Report) , Quidel Corporation (QDEL - Free Report) and Heamonetics Corporation (HAE - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cardiovascular Systems has an earnings growth rate of 33.3% for the fourth quarter of fiscal 2019.
Quidel Corporation has a long-term earnings growth rate of 25%.
Heamonetics has a long-term earnings growth rate of 13.5%.
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