Profile: Masimo Corp (MASI.OQ)
10 Mar 2014
Masimo Corporation, incorporated in May 1989, is a global medical technology company that develops, manufactures, and markets noninvasive patient monitoring products. It develops, manufactures and markets a patient monitoring solution that incorporates a monitor or circuit board and sensors, including single-patient use, reusable and ReSposable sensors and patient cables. In addition, the Company offers remote alarm/monitoring solutions and software. The Company’s Masimo Signal Extraction Technology (Masimo SET) provides the capabilities of Measure-Through Motion and Low Perfusion pulse oximetry to address the primary limitations of conventional pulse oximetry. Masimo SET has been validated in over 100 independent clinical studies. It also offers a remote monitoring and clinician notification solution called the Masimo SafetyNet (SafetyNet), which includes its Masimo SET or rainbow SET monitors at the patient’s bedside along with a central assignment station and wired or wireless server. In March 2012, the Company acquired Spire Semiconductor, LLC.
The Company sells its products to end-users through its direct sales force and certain distributors, and some of its products to its original equipment manufacturer (OEM) partners, for incorporation into their products. The Company offers Masimo SET and rainbow SET through its OEMs and its own end-user products, including the Radical-7, Rad-87, Rad-57, Pronto, Pronto-7, Rad-8, Rad-5, and Rad-5v. The Company’s solutions and related products are based upon its Masimo SET and rainbow algorithms. The Company has licensed from its development partner, Cercacor Laboratories, Inc. (Cercacor) the right to OEM rainbow technology and incorporate rainbow technology into its products intended to be used by professional caregivers, including, but not limited to, hospital caregivers and alternate care market, facility caregivers. During the year ended December 31, 2011, Masimo implemented a technology, X-Cal, in its sensors, cables, and instruments.
The Company’s Masimo SET MS circuit boards perform all signal processing and other pulse oximetry functions incorporating the Masimo SET platform. Its MS circuit boards are included in its monitors for direct sale or sold to its OEM partners for incorporation into their monitors. Once incorporated into a pulse oximeter, the MS circuit boards perform all data acquisition processing and report the pulse oximetry levels to the host monitor. The circuit boards and related software interface directly with the Company’s sensors to calculate arterial blood oxygen saturation level and pulse rate. Its generation boards include the MS-2003, MS-2011, MS-2013 and the new MS-2040.
The Company’s next-generation circuit board is the foundation for its Masimo rainbow Pulse CO-Oximetry and rainbow Acoustic Monitoring platform, utilizing technology licensed from Cercacor. The MX circuit boards measure arterial blood oxygen saturation levels and pulse rate, and have the circuitry to enable the measurement of hemoglobin, oxygen content, carboxyhemoglobin, methemoglobin, pleth variability index, respiration rate and halo index, along with other potential measurements in the future.
The Company’s new SET technology-in-a-cable contains the low power (MS-2040) technology in a reduced size allowing it to be embedded into patient cables as part of the sensor connector. This allows the ability to interface the uSpO2 cable/board to monitoring devices externally via an existing communications port in instances where internal integration of a traditional Masimo SET technology board is not feasible. The uSpO2 cable/board provides full Masimo SET Measure-Through Motion and Low Perfusion pulse oximetry found in other Masimo products, with a power consumption of less than 45 milliwatts.
Monitors / Devices
The Radical-7 incorporates the MX circuit board, which enables rainbow SET measurements. It offers three-in-one capability to be used as: a device for bedside monitoring; a detachable, battery-operated handheld unit for portable monitoring, and a monitor interface via SatShare, technology allowing its products to work with certain competitor products, to upgrade existing conventional multi-parameter patient monitors to Masimo SET while displaying rainbow measurements on the Radical-7 itself. Radical-7 is a fully-equipped Pulse CO-Oximeter with a detachable module, which functions as a battery-operated, handheld monitor. The Rad-87, which also contains Masimo rainbow SET technology, is designed for use in less acute settings than the Radical-7. The Rad-87 is available with a built-in bi-directional wireless radio for use as part of the SafetyNet remote monitoring and clinician notification system.
The Pronto is a handheld noninvasive multi-parameter testing device that uses Masimo rainbow SET technology to provide oxygen saturation, pulse rate, perfusion index and spot-checking of hemoglobin levels for both hospitals (which include emergency departments) and remote settings, such as physician offices. The Pronto-7 is a noninvasive multi-parameter device utilizing rainbow 4D that provides spot-check hemoglobin testing along with oxygen saturation, pulse rate and perfusion index results. The Rad-8 is a bedside pulse oximeter featuring Masimo SET. In addition to the bedside monitors, the Company has developed handheld pulse oximeters using Masimo SET (but without rainbow capability). The Rad-57 is a fully featured handheld Pulse CO-Oximeter that provides continuous, noninvasive measurement of hemoglobin, carboxyhemoglobin and methemoglobin in addition to oxygen saturation, pulse rate, and perfusion index. The SEDLine monitor measures brain function on a continuous basis. The SEDLine monitor, an EEG-based brain function monitor, provides information about a patient’s response to anesthesia.
The Company has developed one single-patient use (disposable), reusable and ReSposable sensors and cables. In total, it has over 100 different types of sensors to meet virtually every clinical need. The Company sells its sensors and cables to end-users through its direct sales force and its distributors and OEM partners. Its reusable sensors are primarily used for short-term, spot-check monitoring. The Company has developed SofTouch sensors, designed with less adhesive or no adhesive at all for compromised skin conditions. These include single-patient sensors for newborns and multi-site reusable sensors for pediatrics and adults. The Company develops two specialty sensor lines, specifically designed for trauma and resuscitation situations, as well as for newborns.
The Company’s Blue Sensors monitor arterial blood oxygen saturation levels in cyanotic infants and children with abnormally low oxygen saturation levels. During 2011, it introduced a single-patient-use ear sensor that is placed securely in the ear conchae. The E1 Sensor is used for field emergency medical services utilization. It develops multi-wavelength sensors for use with its rainbow Pulse CO-Oximetry products. The Company’s rainbow sensors can also monitor carboxyhemoglobin, methemoglobin and hemoglobin. Its licensed rainbow SET sensors are the sensors that are compatible with its licensed rainbow SET products. Rainbow sensors are available in single-patient use, ReSposable, and reusable spot-check sensor types.
The Company develops a continuous respiration rate monitoring technology based on an acoustic sensor placed on the patient’s neck. Its rainbow Acoustic Sensors detect the sounds associated with breathing, and convert the sounds into continuous respiration rate using signal processing that is based on Masimo’s signal extraction technology. Used with the SEDLine monitor, the SEDLine sensor is a disposable sensor that collects a high volume of brain function data from key areas of frontal lobe.
Remote Alarm and Monitoring Solutions
SafetyNet is a remote monitoring and clinician notification system. It instantly routes bedside-generated alarms through a server to a qualified clinician’s handheld paging device. Each system can support up to 80 bedside monitors and can either be integrated into a hospital’s existing information technology (IT) infrastructure or operate as a stand-alone wireless network.
All of the Company’s monitors, including Radical-7 and certain future OEM products, which incorporate the MX board, will allow purchases of software for rainbow measurements, as well as other future measurements or features that can be field installed. Halo Index is a single displayed value on the SafetyNet remote monitoring and notification system, which facilitates assessment within a single index.
The Company competes with Covidien Ltd., GE Medical Systems and Mindray Medical International Ltd.
IRVINE CA 92618