Masimo Corp. (MASI) recently announced the expansion of its corporate campus in Irvine, California with the addition of an adjacent 32,000 sq. ft. building. This is the company’s third building on its corporate campus. Masimo stated that the new building is expected to accommodate more than 200 employees.

The expansion of Masimo’s corporate headquarters will further strengthen its engineering, sales and administrative functions in 2010. These are required to accommodate the increasing demand for its breakthrough medical technologies, including the expansion of its Masimo Rainbow SET Pulse CO-Oximetry and new Acoustic Monitoring business. The current year alone has seen more than 150 hospitals throughout the world adapt the company’s advanced pulse oximetry technology.

As a reminder, earlier this month, Masimo’s new customer, Brookdale University Hospital and Medical Center in Brooklyn, New York, completed its system-wide conversion to Masimo SET pulse oximetry technology. Brookdale has also installed Masimo’s first-ever continuous and non-invasive hemoglobin monitoring (SpHb) technology in its select care settings. This allows clinicians to detect and treat chronic or acute anemia earlier, more effectively manage blood transfusions for their patients and identify internal bleeding quicker.

Despite the economic slowdown the company continues to grow impressively, registering a 17% revenue growth in the first nine months of 2009 compared to the first nine months of 2008. The expansion of the company’s corporate headquarters is a step to sustain the growth.

Masimo develops, manufactures and markets a family of non-invasive blood monitoring systems that consist of a monitor, circuit board and sensors. The systems are primarily used to monitor blood oxygen saturation levels and protect against hypoxemia and hyperoxemia. Hypoxemia, low blood-oxygen levels, can cause brain damage and death. Hyperoxemia, high-blood oxygen levels, can permanently damage eyes and cause blindness.

Masimo is a leader in the pulse oximetry monitoring equipment market. The company competes with Covidien Plc (COV), Becton, Dickinson and Co. (BDX) among others in the medical appliances & equipment industry.

Read the full analyst report on “MASI”
Read the full analyst report on “COV”
Read the full analyst report on “BDX”
Zacks Investment Research