Masimo Corporation (NASDAQ:MASI) and University Hospitals recently collaborated to implement MasimoSafetyNet to help clinicians monitor patients remotely.
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Notably, MasimoSafetyNet is a telehealth solution that combines the Radius PPG pulse oximetry. The solution functions through Masimo SET Measure-through Motion and Low Perfusion technology and Doctella. It is also accessible on smartphones.
Rationale Behind the Tie-Up
Investors are already aware that the coronavirus (COVID-19) pandemic has wreaked havoc over the past month. Resultantly, an increasing number of U.S. states are undergoing lockdown while a nationwide lockdown isn’t far.
Given the situation, monitoring patients remotely by clinicians is likely to become a challenge.
Masimo’s latest collaboration is likely to ramp up the demand for its patient monitoring systems, thereby facilitating remote monitoring at patients’ homes.
This also boosts Masimo’s patient monitoring product spectrum, which includes Rainbow Pulse CO-Oximetry, Rainbow acoustic monitoring, SedLine brain function monitoring, and capnography and gas monitoring.
Other Developments
Masimo has seen a plethora of developments lately.
The company is providing discounts on its Rainbow platform to help customers manage blood supplies. This is likely to tackle the blood shortage due to the COVID-19 outbreak worldwide.
Also, the company recently acquired Germany’s TNI medical. Notably, TNI’s novel softFlow is expected to boost Masimo’s respiratory care product portfolio. The COVID-19 wave has ramped up demand for TNI’s softFlow technology. Hence, this technology will provide Masimo with additional tools to address the growing number of people affected by pulmonary diseases.
Moreover, the company recently inked a deal with Imprivata with respect to the integration of Imprivata Medical Device Access into Masimo’s Hospital Automation solutions that feature the Root Patient Monitoring and Connectivity Platform.
Price Performance
Over the past year, shares of this Zacks Rank #2 (Buy) company have rallied 10.3% against the industry’s 24.9% decline.
Other Key Picks
Other similar-ranked companies in the broader medical sector include Stryker Corporation (NYSE:SYK) , Accuray Incorporated (NASDAQ:ARAY) and The Cooper Companies (NYSE:COO) . You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stryker’s long-term earnings growth is expected at 10.1%.
Accuray’s fiscal fourth-quarter earnings are expected to skyrocket 150%.
Cooper Companies' long-term earnings growth is projected at 10.7%.
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Stryker Corporation (SYK): Free Stock Analysis Report
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Masimo Corporation (MASI): Free Stock Analysis Report
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