Masimo and UCHealth Announce a Clinical Monitoring Partnership to Improve Care with Telehealth
Masimo (NASDAQ: MASI) and UCHealth announced a strategic collaboration to enhance patient care through virtual care and telehealth. The partnership aims to improve patient outcomes, reduce care costs, and transform care delivery models. Joe Kiani, Masimo's CEO, and Dr. Richard Zane from UCHealth expressed excitement about combining technological and clinical expertise to innovate healthcare solutions.
The strategic collaboration between Masimo and UCHealth signifies a concerted effort to enhance patient care through the integration of advanced telehealth capabilities. This partnership is poised to catalyze the healthcare sector by focusing on technology-enabled care, which is increasingly becoming a critical component in the delivery of healthcare services. The emphasis on virtual and remote care solutions aligns with the broader industry trend towards digital health, which has been accelerated by the COVID-19 pandemic.
From a business perspective, this collaboration could potentially open up new revenue streams for Masimo, as the demand for virtual care solutions is on the rise. The integration of Masimo's patient monitoring technologies with UCHealth's clinical workflows could lead to the development of innovative products and services that cater to a market that is increasingly seeking remote and data-driven healthcare solutions. The potential for direct-to-consumer and provider-to-provider services could also broaden the market reach for both entities, tapping into the growing segment of consumers seeking convenient access to healthcare.
The partnership's focus on leveraging data science and sensor technology to improve patient outcomes and reduce the cost of care is a significant development in the healthcare industry. By combining Masimo's technological expertise in patient monitoring with UCHealth's clinical experience, the collaboration is expected to yield advancements in the monitoring of physiological status across various care settings. This could lead to the creation of new standards in patient care, particularly in the areas of chronic disease management and post-acute care monitoring.
The potential for enhanced data analytics and patient flow management could also contribute to a more efficient healthcare system, reducing bottlenecks and improving the allocation of resources. This is particularly relevant in the context of ongoing healthcare challenges such as physician burnout and resource constraints. By improving the efficiency and effectiveness of care delivery, the collaboration could have a meaningful impact on the healthcare landscape.
The announcement of this strategic collaboration may have a positive impact on Masimo's stock market performance, as investors often respond favorably to partnerships that promise innovation and growth. The integration of Masimo's monitoring technologies with UCHealth's clinical workflows could enhance the company's competitive edge in the medical technology market. Furthermore, the focus on cost reduction and improved patient outcomes is likely to resonate with healthcare providers and payers alike, potentially leading to increased adoption of Masimo's solutions.
Long-term, the collaboration could lead to sustainable growth for Masimo if the joint initiatives result in marketable products that address unmet needs in the healthcare industry. It will be important for investors to monitor the outcomes of this partnership, including the development and adoption of new technologies and services and their impact on Masimo's financial performance.
02/20/2024 - 08:00 AM
IRVINE, Calif. & DENVER --(BUSINESS WIRE)--
Masimo (NASDAQ: MASI), a leading global provider of medical technology and automation solutions, and UCHealth , a nationally recognized network of hospitals, clinics, and providers based in Colorado , announced today that they are entering into a strategic collaboration to improve the standard of patient care using the latest in virtual care and telehealth capabilities. With an emphasis on advancing technology-enabled care, including virtual and remote care, the collaboration is designed to leverage the unique capabilities of both organizations and pursue their mutual goals of improving patient outcomes, reducing the cost of care, and transforming models of care delivery across the continuum, both in and outside the hospital.
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Masimo and UCHealth (Graphic: Business Wire)
Joe Kiani, Founder and CEO of Masimo, said, “We are grateful for the opportunity to collaborate with world-class organizations like UCHealth. By combining our technological expertise and their clinical expertise, together we can foster a new generation of healthcare solutions that improve the lives of patients and clinicians alike – ultimately advancing the forefront of care.”
“UCHealth is committed to driving medical advances through clinical innovation, pioneering research and world-class education. Our commitment aligns with Masimo’s vision for achieving tomorrow’s outcomes and helping institutions like ours improve the ways we monitor physiological status across more care areas than ever before, and extend high-quality care beyond the hospital and into the home by harnessing the power of data science and sensors,” said Dr. Richard Zane, Chief Innovation Officer at UCHealth and Chair of Emergency Medicine at the University of Colorado School of Medicine. “We are particularly excited by Masimo’s innovations in telehealth, virtual and remote care, and how they can help us support improved outcomes for our patients and for people everywhere.”
Opportunities for collaboration between Masimo and UCHealth may include:
Offering innovative virtual care and remote monitoring solutions, through the optimization of enterprise patient monitoring technologies, patient flow management, and advanced analytics.
Augmenting UCHealth’s expertise in evidence-based clinical workflows with Masimo virtual care solutions.
Collaborating on innovative direct-to-consumer (D2C) and provider-to-provider (P2P) services, to introduce virtual clinical services focusing on episodic and chronic care management.
@Masimo | #Masimo
About Masimo
Masimo (NASDAQ: MASI) is a global medical technology company that develops and produces a wide array of industry-leading monitoring technologies, including innovative measurements, sensors, patient monitors, and automation and connectivity solutions. In addition, Masimo Consumer Audio is home to eight legendary audio brands, including Bowers & Wilkins, Denon, Marantz, and Polk Audio. Our mission is to improve life, improve patient outcomes, and reduce the cost of care. Masimo SET® Measure-through Motion and Low Perfusion™ pulse oximetry, introduced in 1995, has been shown in over 100 independent and objective studies to outperform other pulse oximetry technologies.1 Masimo SET® has also been shown to help clinicians reduce severe retinopathy of prematurity in neonates,2 improve CCHD screening in newborns3 and, when used for continuous monitoring with Masimo Patient SafetyNet™ in post-surgical wards, reduce rapid response team activations, ICU transfers, and costs.4-7 Masimo SET® is estimated to be used on more than 200 million patients in leading hospitals and other healthcare settings around the world,8 and is the primary pulse oximetry at 9 of the top 10 hospitals as ranked in the 2022-23 U.S. News and World Report9 In 2005, Masimo introduced rainbow® Pulse CO-Oximetry technology, allowing noninvasive and continuous monitoring of blood constituents that previously could only be measured invasively, including total hemoglobin (SpHb® ), oxygen content (SpOC™), carboxyhemoglobin (SpCO® ), methemoglobin (SpMet® ), Pleth Variability Index (PVi® ), RPVi™ (rainbow® PVi), and Oxygen Reserve Index (ORi™). In 2013, Masimo introduced the Root® Patient Monitoring and Connectivity Platform, built from the ground up to be as flexible and expandable as possible to facilitate the addition of other Masimo and third-party monitoring technologies; key Masimo additions include Next Generation SedLine® Brain Function Monitoring, O3® Regional Oximetry, and ISA™ Capnography with NomoLine® sampling lines. Masimo’s family of continuous and spot-check monitoring Pulse CO-Oximeters® includes devices designed for use in a variety of clinical and non-clinical scenarios, including tetherless, wearable technology, such as Radius-7® , Radius PPG® , and Radius VSM™, portable devices like Rad-67® , fingertip pulse oximeters like MightySat® Rx, and devices available for use both in the hospital and at home, such as Rad-97® and the Masimo W1® medical watch. Masimo hospital and home automation and connectivity solutions are centered around the Masimo Hospital Automation™ platform, and include Iris® Gateway, iSirona™, Patient SafetyNet, Replica® , Halo ION® , UniView® , UniView :60™, and Masimo SafetyNet® . Its growing portfolio of health and wellness solutions includes Radius Tº® , Masimo W1 Sport, and Masimo Stork™. Additional information about Masimo and its products may be found at www.masimo.com . Published clinical studies on Masimo products can be found at www.masimo.com/evidence/featured-studies/feature/ .
RPVi has not received FDA 510(k) clearance and is not available for sale in the United States . The use of the trademark Patient SafetyNet is under license from University HealthSystem Consortium.
References
Published clinical studies on pulse oximetry and the benefits of Masimo SET® can be found on our website at http://www.masimo.com . Comparative studies include independent and objective studies which are comprised of abstracts presented at scientific meetings and peer-reviewed journal articles.
Castillo A et al. Prevention of Retinopathy of Prematurity in Preterm Infants through Changes in Clinical Practice and SpO2 Technology. Acta Paediatr. 2011 Feb;100(2):188-92.
de-Wahl Granelli A et al. Impact of pulse oximetry screening on the detection of duct dependent congenital heart disease: a Swedish prospective screening study in 39,821 newborns. BMJ. 2009;Jan 8;338.
Taenzer A et al. Impact of pulse oximetry surveillance on rescue events and intensive care unit transfers: a before-and-after concurrence study. Anesthesiology . 2010:112(2):282-287.
Taenzer A et al. Postoperative Monitoring – The Dartmouth Experience. Anesthesia Patient Safety Foundation Newsletter . Spring-Summer 2012.
McGrath S et al. Surveillance Monitoring Management for General Care Units: Strategy, Design, and Implementation. The Joint Commission Journal on Quality and Patient Safety . 2016 Jul;42(7):293-302.
McGrath S et al. Inpatient Respiratory Arrest Associated With Sedative and Analgesic Medications: Impact of Continuous Monitoring on Patient Mortality and Severe Morbidity. J Patient Saf. 2020 14 Mar. DOI: 10.1097/PTS.0000000000000696.
Estimate: Masimo data on file.
http://health.usnews.com/health-care/best-hospitals/articles/best-hospitals-honor-roll-and-overview .
Forward-Looking Statements - Masimo
This press release includes forward-looking statements as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, in connection with the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations about future events affecting us and are subject to risks and uncertainties, all of which are difficult to predict and many of which are beyond our control and could cause our actual results to differ materially and adversely from those expressed in our forward-looking statements as a result of various risk factors, including, but not limited to: risks related to our assumptions regarding the repeatability of clinical results; risks related to our belief that Masimo's unique noninvasive measurement technologies contribute to positive clinical outcomes and patient safety; risks related to our belief that Masimo noninvasive medical breakthroughs provide cost-effective solutions and unique advantages; risks that Masimo may not realize the expected benefits and goals that may be achieved by its collaboration with UCHealth; risks that Masimo and UCHealth fail to collaborate in the areas stated in this press release as planned; risks related to COVID-19; as well as other factors discussed in the "Risk Factors" section of our most recent reports filed with the Securities and Exchange Commission ("SEC"), which may be obtained for free at the SEC's website at www.sec.gov . Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. All forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of today's date. We do not undertake any obligation to update, amend or clarify these statements or the "Risk Factors" contained in our most recent reports filed with the SEC, whether as a result of new information, future events or otherwise, except as may be required under the applicable securities laws.
About UCHealth
UCHealth is an innovative, nonprofit health system that delivers the highest quality medical care with an excellent patient experience. UCHealth includes 33,000 employees, 14 acute-care hospitals and hundreds of physicians across Colorado , southern Wyoming and western Nebraska . With University of Colorado Hospital on the CU Anschutz Medical Campus as its academic anchor and the only adult academic medical center in the region, UCHealth is dedicated to providing unmatched patient care in the Rocky Mountain West. Offering more than 200 clinic locations, UCHealth provides extensive community benefits and pushes the boundaries of medicine through advanced treatments and clinical trials, improving health through innovation. UCHealth’s CARE Innovation Center collaborates with leading industry and start-up partners to fundamentally transform the way health care is delivered.
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Media Contacts:
Masimo
elamb@masimo.com
UCHealth
Kelli.Christensen@uchealth.org
Source: Masimo
What is the ticker symbol for Masimo?
The ticker symbol for Masimo is MASI.
What was announced in the press release?
The press release announced a strategic collaboration between Masimo and UCHealth to enhance patient care through virtual care and telehealth.
Who is the CEO of Masimo?
Joe Kiani is the Founder and CEO of Masimo.
What are the goals of the collaboration between Masimo and UCHealth?
The collaboration aims to improve patient outcomes, reduce the cost of care, and transform models of care delivery.
What technologies are emphasized in the collaboration?
The collaboration focuses on virtual care, telehealth capabilities, and technology-enabled care.
