At last night's 2003 Global Excellence in Healthcare & Life Sciences Awards Banquet, Frost & Sullivan named Masimo Corporation as the recipient of the 2003 Patient Monitoring Technology of the Year Award.
Masimo Corporation's innovative Signal Extraction Technology (Masimo SET®) modernized the pulse oximetry and patient monitoring markets with its ease of use and breakthrough performance.
Its ability to noninvasively measure oxygen saturation levels in high-risk and difficult patients, such as people with very low levels of perfusion and those actively in motion, has created widespread demand by physicians.
"Masimo's engineering design and skilled development of highly specific algorithms have made its technology highly sought after," states Katherine Shariq, industry analyst with Frost & Sullivan. "Due to the company's innovations, the pulse oximetry market has been reenergized and the use of pulse oximetry solutions for continuous measurements among high-risk patients has expanded."
This award recognizes Masimo's contribution to medicine and patient care through its innovation, engineering expertise, and diligence in getting its Masimo SET® technology accepted and used in the patient monitoring market. Masimo currently maintains licensing agreements with more than 35 international patient monitoring equipment providers and operates a growing stand-alone pulse oximeter business.
With Masimo SET® acknowledged as a new technology standard most hospitals and caregivers are making the shift to "next-generation" pulse oximetry solutions to monitor their patients. Masimo deserves this award for its commitment to patient care, reliability, and the ease of use of its products.
Joe E. Kiani, Chairman & CEO of Masimo stated, "On behalf of the Masimo team, both those inside and outside the company, I would like to thank Frost and Sullivan for bestowing upon us this award. This award not only encourages us to do more, but hopefully it encourages other people to dedicate themselves to the advancement of patient care."
Every year, Frost & Sullivan honors the company that introduces a technology with the ability to influence and impact R&D focus and competitive posture in several market segments. The technology also shows potential to become an industry standard or achieve a high degree of market acceptance.
Held in San Diego, Calif., the Frost & Sullivan banquet honored world-class companies for outstanding performance and achievements in the healthcare industry. An annual event, the banquet recognizes the quality and merit of these distinguished companies.
About Masimo
Masimo, founded in 1989, is the innovator and leader of motion and low perfusion tolerant pulse oximetry. Masimo develops, licenses and markets advanced medical signal processing technologies and products for the noninvasive monitoring of vital signs. Masimo Signal Extraction Technology represents a fundamental departure from conventional pulse oximetry technologies. Over 70 independent and objective published studies have demonstrated that Masimo SET® is the safest and most effective pulse oximetry technology in the world. To date, Masimo has licensed its Signal Extraction Pulse Oximetry technology to over 35 international patient monitoring system providers, which make up over 70 percent of the world's pulse oximeter shipments. Masimo is headquartered in Irvine, Calif. Additional information about Masimo and its products can be found on www.masimo.com.
About Frost & Sullivan
Founded in 1961, Frost & Sullivan is recognized as a global leader in growth consulting. Frost & Sullivan Awards are presented to companies that demonstrate excellence in their industry, commending the diligence, commitment, and innovative business strategies required to advance in the global marketplace. Frost & Sullivan rigorously analyzes specific criteria to determine award recipients in a vast variety of market industries and landscapes. For further information, visit www.frost.com.
