Masimo Corporation (MASI) announced that one of its prominent customers, Advocate Health Care, has recently renewed its multi-year, system-wide contract for Masimo SET pulse oximetry technology. Advocate Health Care is Illinois’ largest and one of the top ten health care providers in the U.S. It has more than 200 patient-care sites across Chicago. Financial terms of the contract have not been disclosed.
Advocate Health Care has been Masimo’s customer since 2001. The contract enables Masimo to support the pulse oximetry needs of more than 200 sites of Advocate Health Care. This will in turn boost Masimo’s top-line. Masimo Corporation 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 the eyes and cause blindness.
The renewed contract enables Advocate Health Care to continue leveraging superior Measure-Through Motion and Low-Perfusion benefits of Masimo SET pulse oximetry technology. These features enable them to immediately detect and treat potentially life-threatening conditions, eliminating the need to draw blood and wait for the results.
Furthermore, Masimo Rainbow SET is the first and only technology platform capable of continuously and non-invasively measuring multiple blood constituents such as total hemoglobin (SpHb), oxygen content (SpOC), carboxyhemoglobin (SpCO), oxyhemoglobin (SpO2), pulse rate (PR), etc.
Masimo is a leader in the pulse oximetry monitoring equipment market. The company’s closest competitors are Haemonetics Corporation (HAE) and Becton, Dickinson and Company (BDX). During fiscal 2008, the company gained five additional points of market share, taking it to 43.5%.
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