Masimo Archives - Medical Design Sourcing

New FDA clearance will boost Philips and Masimo partnership

Philips (NYSE: PHG) + and Masimo (Nasdaq: MASI) + today announced an FDA clearance that allows the incorporation of Masimo’s advanced monitoring tech into Philips’ existing high-acuity patient monitors.

The FDA clearance allows the companies to use SedLine brain function monitoring, Regional Oximetry and CO2 measurements in Philips’ patient monitors, IntelliVue MX750 and MX850. This is the latest extension of Masimo and Philips’ ongoing collaboration that will help enable clinicians to make quick and informed decisions without the need for additional monitoring equipment.

When integrating the SedLine, O3 and CO2 advanced Masimo measurements into Philips high acuity IntelliVue MX series, clinicians can access and monitor blood saturation in the brain, anesthetic sedation and patient respiratory performance, all from the same monitor. The data can be shar…

Masimo management trades blows with activist investor Politan

The fight for two seats on the Masimo (Nasdaq: MASI) + board is heating up ahead of the medtech developer’s annual shareholder meeting next month.

Masimo management and activist investor Politan Capital Management released dueling presentations over the last 24 hours in support of their respective director nominees.

Previously: Masimo beats the Street in Q1 ahead of proxy fight; CEO discusses Apple mistrial

Politan Managing Partner and Chief Investment Officer Quentin Koffey yesterday called for “greater oversight in the boardroom [to] help Masimo realize its full potential.”

“Masimo’s broken corporate governance has resulted in a deeply discounted valuation and an inability to profitably innovate and grow,” he said in a news release. “Unfortunately, Masimo’s board fails to recognize that shareholder-driven change is needed, as demonstrated by the board’s hostile approac…

Masimo expands HEOS home monitoring platform

The HEOS at-home monitoring technology, including the W1 watch. [Image courstey of Masimo]Masimo (Nasdaq:MASI) today announced the global expansion of its HEOS platform for always-on connection through its secure cloud.

The Masimo Health secure cloud covers 4 million devices, offering customers an enhanced health-tracking experience. This software upgrade enables Masimo’s devices and cloud solution to seamlessly integrate with HEOS-enabled devices. Those include sound bars, wireless speakers, amplifiers and receivers from Denon, Marantz and Definitive Technology.

Irvine, California-based Masimo plans to bring this expansion worldwide, including to the U.S. Canada, the UK, Japan and Australia, initially. It expects to take the software upgrade live in more countries later this year.

“We are excited to expand the footprint and capabilities of our HEOS platform with our wearables and provide our customers with health tracking truly integrated with their …

Masimo beats the Street in Q1 ahead of proxy fight

Masimo (Nasdaq: MASI) reported Street-beating first-quarter results and maintained its full-year 2023 guidance ahead of a proxy battle at the annual meeting of shareholders.

Investors reacted by sending MASI shares up 1% to $186.50 apiece in after-hours trading today. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was down slightly.

The Irvine, California–based company earned $21.3 million, or 39¢ per diluted share, off of $565.0 million in revenue for the quarter that ended March 31, 2023.

Adjusted to exclude one-time items, Masimo had a Q1 EPS of 87¢. The result came in 4¢ ahead of the predictions of Wall Street analysts, who expected earnings per share of 83¢ and $557.85 million in revenue.

“Our strong performance this quarter reflects our long track record of innovation in our professional healthcare business, our thoughtful stewardship of our established luxury and prem…

Masimo trade secret suit against Apple ends in mistrial

Masimo’s W1 smartwatch [Image from Masimo]The ongoing patent spat between Masimo (Nasdaq:MASI) + and Apple has another twist as a federal judge declared a mistrial.

A federal judge in California made the ruling yesterday after jurors could not come to a unanimous verdict, according to a Reuters report.

A Masimo spokesperson issued the following statement following the ruling:

“While we are disappointed that the jury was unable to reach a verdict, we intend to retry the case and continue to pursue legal redress against Apple. As we begin that process, the United States Trade Commission is scheduled in the coming months to decide whether to ban the importation of certain models of the Apple Watch, following a ruling last year by an Administrative Law Judge that Apple infringed one of Masimo’s patents for pulse oximetry.”

Reuters reported that an Apple statement says the company …

Masimo launches Stork at-home baby monitoring system

The Stork boot on a baby next to an image of the components of Stork. [Image courtesy of Masimo]Masimo (Nasdaq:MASI) announced today that it launched its Stork at-home monitoring system for babies.

Irvine, California-based Masimo designed Stork to offer parents insights into their baby’s health data. It could help them learn more about and be better connected with their baby, Masimo says.

“When we set out in 1989 to reinvent pulse oximetry, we named the project ‘Stork’ because our hope was that this technology would help reliably bring healthy babies home to their parents,” said Joe Kiani, founder and CEO of Masimo. “With Stork’s introduction today, we’ve taken our passion for newborn care and our innovative and groundbreaking technologies to craft a solution that we hope will give parents greater insights into their babies and help them live healthier lives. Parenting is the hardest thing one loves to do.

“With Stork, our goal is to improve the…

Masimo announces corporate governance, executive pay changes

Masimo (Nasdaq:MASI) announced today that it made a series of changes to its board of directors and governance policies.

The company attributed the changes to an ongoing board refreshment and governance review process. Regular engagement with stockholders informed these changes, according to a news release.

“We recently visited several of our large stockholders and had good discussions with them,” said Joe Kiani, Masimo founder, chair, and CEO. “Based on their feedback, as well as feedback we previously received from other stockholders, the Board has decided to make a number of changes.”

Masimo’s independent board directors unanimously elected H Michael Cohen as the board’s lead independent director. Cohen holds responsibility for leading meetings of the independent directors. He also presides at meetings of the board at which the chair (Kiani) is not present and provides input on agendas and materials in advance of board meetings.

Oth…

Medtech jobs: The world’s largest medical device companies are hiring

Medical device companies are trying to fill thousand of medtech jobs. [Photo by ijeab – stock.adobe.com]

The world’s largest medical device companies are still hiring for medtech jobs despite layoffs in tech and other industries.

Medtech developers — and medtech jobs — are resilient, with the industry’s COVID-19 pandemic performance only bolstering its recession-proof reputation.

That’s not to say there haven’t been job cuts in medtech, led by thousands of layoffs at Philips as it struggles with a massive recall of deadly respiratory devices. But most medical device manufacturers are still hiring, and in some cases they can’t attract enough candidates to fill every vacancy in a tight labor market.

Stryker, for example, grew to approximately 51,000 employees as of the end of 2022, increasing its headcount by nearly 11 percent last year. Boston Scientific reported nearl…

Masimo beats The Street in Q4 to cap off a ‘momentous year’

Masimo (Nasdaq: MASI) this evening reported Street-beating fourth-quarter results and 2023 guidance that surpassed analysts’ expectations.

CEO Joe Kiani, in a news release, described 2022 as a momentous year for the health monitoring tech company. He said Masimo has already completed its integration with Sound United, the maker of high-end sound systems that it acquired for $1.025 billion in April 2022.

“The acquisition has provided us with immediate scale across consumer engineering, sales, marketing and distribution that would have otherwise taken many years of dilutive investment to build. Instead, we’ve already completed the integration and are working to realize the tremendous potential of the hearables, wearables and telemonitoring markets unlocked by our unique combination of healthcare and consumer technology capabilities,” Kiani said.

Other Masimo accomplishments in 2022 included the introduction of new wearable technologies, s…

Philips, Masimo expand patient monitoring partnership with Masimo smart watch

[Image from Masimo]Philips (NYSE:PHG) and Masimo (Nasdaq:MASI) today announced that they expanded their patient monitoring partnership to home telehealth applications.

The companies extended their partnership to augment patient monitoring capabilities at home with the Masimo W1 watch. The advanced health-tracking watch first launched to early adopters in May 2022. It holds CE mark approval while FDA clearance is pending.

This system represents part of Masimo’s recently announced plan to turn home entertainment systems into health hubs.

Philips and Masimo plan to integrate W1 into Philips’ enterprise patient monitoring ecosystem to advance telemonitoring and telehealth. The companies expect to highlight their plans at Arab Health 2023 later this month.

Bilal Muhsin, Chief Operating Officer of Masimo Healthcare, said, “Expanding our partnership with Philips in this way is a win-win for patients and clinicians everywhere, and is an important…

Masimo wins round in patent spat with Apple

Masimo (Nasdaq:MASI) announced that a U.S. Administrative Law Judge in Washington, D.C. ruled in its favor in a patent spat with Apple.

The judge ruled that Apple violated Section 337 of the Tariff Act of 1930 by importing and selling certain Apple Watches in the U.S. These watches featured light-based pulse oximetry functionality and components. However, the judge also ruled that Apple did not violate four other patents belonging to Masimo.

According to a news release, the judge said this infringed one of Masimo’s pulse oximeter patents. Apple first released the pulse oximeter sensor with its Apple Watch Series 6 in 2020. It remains in use for current Apple Watches. Masimo said the U.S. International Trade Commission must now consider whether to implement an import ban on the devices.

BTIG analyst Marie Thibault called the decision a “positive signal.” However, analysts await the final determination, expected to come by May 10, 2023. Read more

Masimo wins round in patent spat with Apple

Masimo (Nasdaq:MASI) announced that a U.S. Administrative Law Judge in Washington, D.C. ruled in its favor in a patent spat with Apple.

The U.S. International Trade Commission must now consider whether to implement an import ban on Apple Watches, Masimo said in a news release posted last night.

MASI shares were up more than 3% to $156.75 apiece by midday trading today. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was up more than 8%.

The judge ruled that Apple violated Section 337 of the Tariff Act of 1930 by importing and selling certain Apple Watches in the U.S. These watches featured light-based pulse oximetry functionality and components. However, the judge also ruled that Apple did not violate four other patents belonging to Masimo.

According to a news release, the judge said this infringed one of Masimo’s pulse oximeter patents. Apple first released the pulse oximete…