Masimo Corporation (MASI) and Fukuda Denshi recently entered into a worldwide technology licensing agreement under which Masimo’s Rainbow SET Pulse CO-Oximetry technology will be integrated with Fukuda’s next generation patient monitors.  
 
The integration of the two technologies will lead to the development of more sophisticated patient monitors, which will not only facilitate the thorough assessment of a patient’s physiological status; it will also enable earlier detection and treatment of life threatening diseases.
 
Under the terms of their agreement, Fukuda Denshi may incorporate Masimo Rainbow SET Pulse CO-Oximetry technology’s non-invasive blood constituent measurement capabilities for hemoglobin, methemoglobin, carbon monoxide, perfusion index, PVI for fluid responsiveness and measure-through motion pulse oximetry.   
 
Masimo’s breakthrough non-invasive monitoring technologies can be integrated into a wide range of multi-parameter and multi-use monitoring devices. Introduced, in 1995, the Masimo SET has a well documented track record for providing reliable measurement of SpO2 and pulse rate.
 
In 2005, Masimo launched its Rainbow SET Pulse CO-Oximetry technology, which permits non-invasive and continuous monitoring of additional blood constituents that earlier required invasive procedures. Subsequently, in 2009, Masimo introduced Rainbow SET Accoustic Monitoring for continuous non-invasive monitoring of acoustic respiration rate. Masimo had total revenues of $98.7 million in the first quarter of 2010 versus $85.5 million in the corresponding period of the previous fiscal.      
 
Fukuda Denshi is one of Japan’s largest manufacturers of electronic medical devices, including patient monitoring devices, with a focus on production and sales of devices centering around cardiovascular and respiratory systems. Fukuda Denshi reported net sales of 61,030 million yen in the third quarter of fiscal 2010 compared with 62,507 million yen in third quarter of fiscal 2009.
 
We currently have a Neutral rating on Masimo.
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