Masimo (MASI) Introduces Automation and Connectivity Solution
Masimo Corporation MASI unveiled its latest automation and connectivity solution, UniView: 60. The solution leverages the Masimo Hospital Automation platform to aggregate and showcase relevant patient information on a digital display just outside each patient’s room, enabling clinicians to acquaint themselves with the most pertinent details of each case at the door a minute before they visit the patient.
This is expected to boost Masimo Hospital Automation solutions.
For investors’ note, Masimo Hospital Automation platform ensures interoperability and the free, secure flow of data throughout hospital systems with the help of ACE, advanced translation capabilities and a robust automation engine. UniView: 60 takes advantage of the movement of data by optimizing the presentation of pertinent information about each patient’s case on an easily interpretable and personalized display.
More on UniView: 60
The solution is designed to enhance clinical workflows by helping clinicians gain crucial patient information and advisories. Unlike paper records and notes, which may highlight outdated or inaccurate information, UniView: 60 uses its connections to various hospital information systems to exhibit the most appropriate, up-to-date information directly outside the patient’s room in order to improve clinical efficiency and enhance hand-off communication between staff.
UniView: 60 is designed to be part of a strategy to enhance patient safety by integrating patient monitoring data, and other data and advisories in a standardized fashion from each patient’s full EMR history.It can ensure that the hand-off process is more consistent and proficient.
UniView: 60 is one of the several innovations that Masimo is coming up with to take advantage of the powerful connectivity and data handling architecture of the Masimo Hospital Automation platform, which connects systems across the continuum of care, from bedside monitors and connected third-party devices to electronic medical records (EMRs).
Notably, UCI Medical Center has chosen to implement UniView: 60 in its new acute care unit.
In June 2020, Masimo announced that Centroid — a wearable, wireless patient orientation, activity, and respiration rate sensor — has been cleared by the FDA. With this FDA clearance, the company is likely to strengthen its Root Patient Monitoring and Connectivity platform.
Also, in the same month, the company introduced — Masimo Sleep — a new health and wellness home monitoring solution, which has been developed to enable consumers to understand their quality of sleep efficiently. The new solution is likely to strengthen the company’s product portfolio further.
Per a report by MarketsandMarkets, the global medical device connectivity market is projected to reach $4.3 billion by 2025 from $1.4 billion in 2020, witnessing a CAGR of 25.7%, during the forecast period. Hence, the latest launch is well-timed.
Over the past six months, shares of the company have gained 32.1% compared with the industry’s growth of 1.1%.
Zacks Rank and Key Picks
Masimo currently has a Zacks Rank#3 (Hold).
LabCorp’s long-term earnings growth rate is estimated at 6.1%. The company presently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Surmodics’ long-term earnings growth rate is estimated at 10%. The company presently carries a Zacks Rank #2 (Buy).
Quest Diagnostics’ long-term earnings growth rate is estimated at 7.6%. It currently carries a Zacks Rank #2.
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