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Masimo (MASI), Cleveland Clinic Unite to Enhance Patient Care
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Masimo Corporation (MASI - Free Report) and Cleveland Clinic, a nonprofit academic medical center, recently announced their strategic collaboration to improve the standard of patient care while utilizing hospital-based remote patient monitoring (RPM), including TeleCritical Care.
The partnership is intended to integrate Cleveland Clinic’s critical care and non-critical care central patient monitoring platforms with Masimo’s Hospital Automation platform. The partnership is likely to provide tools for clinicians that offer enhanced situational awareness and clinical decision-support for hospitalized patients, including the critically ill.
More on the Collaboration
Masimo’s Hospital Automation platform provides tools to assist physicians in delivering better patient care at the bedside. Monitoring and wearable technology, high-fidelity medical device integration, system-wide surveillance and data visualization applications, and cutting-edge AI capabilities that enable intelligent patient prioritization and make it easier for clinicians to spot changes in patients' conditions are all included in Masimo’s Hospital Automation platform.
These decision-support tools are integrated into Masimo’s Hospital Automation platform and utilize the Halo engine technology that identifies deterioration patterns in multiple physiological parameters simultaneously in real time. The Halo tools include Halo ION, a comprehensive, scalable, and customizable continuous early warning score to help streamline patient assessment and clinical workflows.
Masimo and Cleveland Clinic are set to work together to develop a new Halo-based decision-support tool as part of their collaboration. This tool will help clinicians identify adverse events earlier and ultimately manage and improve patient outcomes for patients with low, mid, and high acuity.
Cleveland Clinic’s existing critical care and non-critical care central monitoring platform provides continuous monitoring of a range of vital signs, including electrocardiogram, for both ICU and non-ICU patients at more than a 2,000-bed capacity. Its hospital-based RPM programs serve 11 hospitals, providing intensivist monitoring, 24/7 critical care nursing, and patient management.
Using Masimo's AI-driven decision support tools, automation solutions, and monitoring devices in association with Cleveland Clinic's extensive clinical knowledge and commitment to delivering the best possible care, the collaboration has the potential to greatly reduce staffing shortages, improve care standardization, and advance intensivist and specialist-led care.
Masimo’s Past Collaboration
In February 2024, Masimo and UCHealth announced their strategic partnership to improve the standard of patient care while utilizing the newest telehealth and virtual care technologies.
The partnership intended to take advantage of the unique expertise of both companies and work toward their shared objectives of enhancing patient outcomes, cutting healthcare costs, and changing the way that care is delivered both inside and outside of hospitals. It places a special emphasis on developing technology-enabled care, including virtual and remote care.
Industry Prospects
Per a report by Grand View Research, the global telehealth market size was valued at $101.2 billion in 2023 and is expected to witness a growth rate of 24.3% from 2024 to 2030.
The market growth is driven by advancements in technology, including improved Internet connectivity and the adoption of smartphones, which contribute to the expansion of telehealth by making healthcare services more accessible and convenient for patients. Another growth factor includes the growing demand for remote healthcare services, mainly due to the COVID-19 pandemic, where the need for virtual consultations and remote monitoring has increased.
With the given market potential for telehealth services, Masimo’s collaboration with Cleveland Clinic is likely to boost its business and generate additional revenues.
Notable Developments
Recently, Masimo announced the FDA clearance of its Masimo SET-powered MightySat Medical Pulse Oximeter, available Over-The-Counter to consumers without a prescription, which becomes the first FDA-approved medical fingertip pulse oximeter that customers can directly avail without the need for any formal prescription.
Price Performance
For the past six months, MASI’s shares have gained 11.2% compared with the industry’s rise of 4.9%. The S&P 500 increased 15% in the same time frame.
Image Source: Zacks Investment Research
Zacks Rank & Other Stocks to Consider
MASI carries a Zacks Rank #2 (Buy) at present.
Some other top-ranked stocks in the broader medical space that have announced quarterly results are DaVita (DVA - Free Report) , Ecolab (ECL - Free Report) and Universal Health Services (UHS - Free Report) .
DaVita, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 13.6%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 29.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DaVita’s shares have gained 44% compared with the industry’s 20.4% rise in the past year.
Ecolab, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 13.3%. ECL’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 1.7%.
Ecolab’s shares have rallied 33.8% against the industry’s 9.3% decline in the past year.
Universal Health Services has an Earnings ESP of +2.91% and a Zacks Rank #2 at present. UHS has an estimated earnings growth rate of 30.5% for 2024.
UHS’ earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 8.12%.
Image: Bigstock
Masimo (MASI), Cleveland Clinic Unite to Enhance Patient Care
Masimo Corporation (MASI - Free Report) and Cleveland Clinic, a nonprofit academic medical center, recently announced their strategic collaboration to improve the standard of patient care while utilizing hospital-based remote patient monitoring (RPM), including TeleCritical Care.
The partnership is intended to integrate Cleveland Clinic’s critical care and non-critical care central patient monitoring platforms with Masimo’s Hospital Automation platform. The partnership is likely to provide tools for clinicians that offer enhanced situational awareness and clinical decision-support for hospitalized patients, including the critically ill.
More on the Collaboration
Masimo’s Hospital Automation platform provides tools to assist physicians in delivering better patient care at the bedside. Monitoring and wearable technology, high-fidelity medical device integration, system-wide surveillance and data visualization applications, and cutting-edge AI capabilities that enable intelligent patient prioritization and make it easier for clinicians to spot changes in patients' conditions are all included in Masimo’s Hospital Automation platform.
These decision-support tools are integrated into Masimo’s Hospital Automation platform and utilize the Halo engine technology that identifies deterioration patterns in multiple physiological parameters simultaneously in real time. The Halo tools include Halo ION, a comprehensive, scalable, and customizable continuous early warning score to help streamline patient assessment and clinical workflows.
Masimo and Cleveland Clinic are set to work together to develop a new Halo-based decision-support tool as part of their collaboration. This tool will help clinicians identify adverse events earlier and ultimately manage and improve patient outcomes for patients with low, mid, and high acuity.
Cleveland Clinic’s existing critical care and non-critical care central monitoring platform provides continuous monitoring of a range of vital signs, including electrocardiogram, for both ICU and non-ICU patients at more than a 2,000-bed capacity. Its hospital-based RPM programs serve 11 hospitals, providing intensivist monitoring, 24/7 critical care nursing, and patient management.
Using Masimo's AI-driven decision support tools, automation solutions, and monitoring devices in association with Cleveland Clinic's extensive clinical knowledge and commitment to delivering the best possible care, the collaboration has the potential to greatly reduce staffing shortages, improve care standardization, and advance intensivist and specialist-led care.
Masimo’s Past Collaboration
In February 2024, Masimo and UCHealth announced their strategic partnership to improve the standard of patient care while utilizing the newest telehealth and virtual care technologies.
The partnership intended to take advantage of the unique expertise of both companies and work toward their shared objectives of enhancing patient outcomes, cutting healthcare costs, and changing the way that care is delivered both inside and outside of hospitals. It places a special emphasis on developing technology-enabled care, including virtual and remote care.
Industry Prospects
Per a report by Grand View Research, the global telehealth market size was valued at $101.2 billion in 2023 and is expected to witness a growth rate of 24.3% from 2024 to 2030.
The market growth is driven by advancements in technology, including improved Internet connectivity and the adoption of smartphones, which contribute to the expansion of telehealth by making healthcare services more accessible and convenient for patients. Another growth factor includes the growing demand for remote healthcare services, mainly due to the COVID-19 pandemic, where the need for virtual consultations and remote monitoring has increased.
With the given market potential for telehealth services, Masimo’s collaboration with Cleveland Clinic is likely to boost its business and generate additional revenues.
Notable Developments
Recently, Masimo announced the FDA clearance of its Masimo SET-powered MightySat Medical Pulse Oximeter, available Over-The-Counter to consumers without a prescription, which becomes the first FDA-approved medical fingertip pulse oximeter that customers can directly avail without the need for any formal prescription.
Price Performance
For the past six months, MASI’s shares have gained 11.2% compared with the industry’s rise of 4.9%. The S&P 500 increased 15% in the same time frame.
Image Source: Zacks Investment Research
Zacks Rank & Other Stocks to Consider
MASI carries a Zacks Rank #2 (Buy) at present.
Some other top-ranked stocks in the broader medical space that have announced quarterly results are DaVita (DVA - Free Report) , Ecolab (ECL - Free Report) and Universal Health Services (UHS - Free Report) .
DaVita, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 13.6%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 29.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DaVita’s shares have gained 44% compared with the industry’s 20.4% rise in the past year.
Ecolab, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 13.3%. ECL’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 1.7%.
Ecolab’s shares have rallied 33.8% against the industry’s 9.3% decline in the past year.
Universal Health Services has an Earnings ESP of +2.91% and a Zacks Rank #2 at present. UHS has an estimated earnings growth rate of 30.5% for 2024.
UHS’ earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 8.12%.