Masimo Corporation (MASI) received CE Mark approval for its Rainbow parameter – Oxygen Reserve Index (ORI) and announced limited market release of the same. With ORI, Masimo's rainbow SET Pulse CO-Oximeters can now measure 11 parameters through its non-invasive optical rainbow sensor technology.
ORI is the first non-invasive and continuous parameter of its kind which provides an insight into patients' oxygen reserve when they are receiving supplemental oxygen. During such procedures, ORI facilitates the assessment of changes in partial pressure of oxygen and pulse oximetry monitoring.
By providing real-time visibility to the oxygenation status of patients, ORI aids their administration in the optimal oxygenation zone, thus reducing the risk of both hypoxia (less than normal oxygenation) and hyperoxia (higher than normal oxygenation). Masimo expects ORI to have significant applications in surgical procedures, intubation and procedural sedation.
Masimo anticipates an uptick in rainbow sales in the coming quarters on the back of higher visibility of rainbow technology among clinicians as well as increased international adoption. Masimo also expects growth to be propelled by launches of some of the initial devices of rainbow technology by General Electric Company (GE) and Philips later this year.
Last month, Masimo unveiled its MX-5 OEM circuit board, a technology platform that consumes approximately half of the power utilized by the other previously available rainbow circuit boards to deliver breakthrough rainbow Pulse CO-Oximetry non-invasive measurement performance. This latest low power circuit board facilitates the measurement of several parameters including oxygen saturation, pulse rate, perfusion index and total hemoglobin.
Earlier in the same month, Masimo received CE Mark approval in Europe and regulatory clearance in Japan for its Rainbow DCI-mini – the first non-invasive hemoglobin (SpHb) spot-check sensor designed for infants and children weighing between 3 and 30 kg.
In late July, Masimo announced CE marking and limited market release of Raduis-7 – the first wearable wireless monitor that allows continuous monitoring of patients while allowing them freedom of movement.
The introduction of several innovative rainbow devices reflects upon the company’s relentless focus on technological improvement and its attempt to ultimately improve patient outcomes.
Currently, Masimo carries a Zacks Rank #4 (Sell). Better-ranked stocks in the medical instruments industry include ERBA Diagnostics, Inc. (ERB) and Opko Health, Inc. (OPK). Both the stocks sport a Zacks Rank #1 (Strong Buy).
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