Frost & Sullivan today presented the first the 2003 New Standard of Care in Patient Monitoring Award to Masimo Corporation, a developer of advanced medical signal processing technologies instrumental in state-of-the-art noninvasive monitoring of patient vital signs, at the AMMI Conference in Long Beach, California.
Aroop Zutshi, Frost & Sullivan senior partner, presented the award to Joe E. Kiani, Chairman and CEO of Masimo Corporation, in recognition of its commitment to patient care, its successful pioneering and introduction of next-generation pulse oximetry technology, and its demonstrated improvement of patient monitoring.
In 1996,1997, and 1998, Masimo introduced in Europe, Japan and the US respectively, its pioneering Signal Extraction Technology (Masimo SET®) solution, the first motion-tolerant and low-perfusion monitoring device, into the pulse oximetry and patient monitoring markets. Initially blocked from selling its product to the US hospitals through group purchasing organizations (GPOs), Masimo went directly to leading medical professionals and had its product assessed and compared against the leading pulse oximeters of the day.
These independent studies highly favored the Masimo SET® solution, raising the awareness of improvements in the medical community and creating strong demand for this motion-tolerant technology among healthcare workers. Prior to Masimo SET® pulse oximetry, pulse oximeters were fraught with false alarms. In fact, approximately 90% of the pulse oximeter alarms were false with conventional pulse oximetry. The dramatic reduction in the number of false alarms, and the improvement in detection of true alarms, was felt to significantly improve the caregiver's productivity as well as provide reliable continuous patient pulse oximetry data.
Masimo's low-perfusion technology also enables doctors and healthcare workers to measure oxygenation levels in patients which were previously unable to be measured and regulated. Clinical studies had shown that over 10% of the time pulse oximeters failed to provide any measurement during surgery in the OR. Masimo SET® changed all of that. As a result, new standards of care are now being offered to patients from infants to geriatrics.
"The rapid adoption of Masimo SET® technology, by both hospitals and major patient monitoring equipment manufacturers demonstrates the value that the market has placed on this significant technological advancement," says Katherine Shariq, Frost & Sullivan industry analyst.
The Frost & Sullivan New Standard of Care in Patient Monitoring Award is given to a company that has successfully developed or introduced a new or advanced version of a patient monitoring component or device, which could potentially revolutionize or reinvigorate the market. Multiple advantages over existing monitoring components clearly establish that the technology used in the field has evolved into a next-generation device. Masimo is the first company to receive such an honor over the past 15 years.
About Masimo Corporation
Founded in 1989, Masimo Corporation, the innovator of motion and low perfusion tolerant pulse oximetry, is a privately held medical technology company that develops, licenses and markets advanced medical signal processing technologies and products for the noninvasive monitoring of patient vital signs. Masimo Corporation is headquartered in Irvine, California.
About Frost & Sullivan
Founded in 1961, Frost & Sullivan, a global leader in growth consulting, presents Market Engineering Awards to companies that demonstrate excellence in their industry, commending the diligence and innovative business strategies required to advance in the global marketplace. Frost & Sullivan rigorously analyzes specific criteria to determine Market Engineering Award recipients in a vast variety of market industries and landscapes. For further information, visit www.frost.com
