Novation Inks Supplier Contract Category Agreement for Masimo SET® pulse oximetry and rainbow® SET Pulse CO-Oximetry™
IRVINE, Calif., May 3, 2012 /PRNewswire/ -- Masimo (NASDAQ: MASI) today announced it has signed a three-year, dual-source agreement with Novation, the healthcare contracting services company of VHA Inc. and the University Health System Consortium (UHC). The agreement, effective May 1, 2012, covers Masimo SET® pulse oximetry and Masimo rainbow® SET Pulse CO-Oximetry™ and rainbow® Acoustic Monitoring, including standalone monitoring devices, handhelds, and sensors. The competitive bid process involved an extensive clinical review and a technology value analysis by Novation's member-based pulse oximetry task force.
Masimo SET has been clinically proven in over 100 independent studies to provide the most accurate and reliable SpO2 and pulse rate measurements, even under the most challenging conditions of patient motion and low peripheral perfusion. Utilizing patented signal processing technologies, including parallel engines and adaptive filters, Masimo SET delivers accurate and reliable measurements of a patient's true oxygenation status when conventional pulse oximetry technologies don't – shown to perform at 95% false alarm sensitivity and 97% true alarm sensitivity.(1)
Masimo rainbow® SET Platform
Masimo rainbow SET® Pulse CO-Oximetry™, a breakthrough technology platform featuring the accuracy and reliability of Masimo SET, is continuing to revolutionize patient monitoring by significantly expanding the ability to noninvasively capture, continuously track and monitor multiple blood constituents, including: total hemoglobin (SpHb®), oxygen content (SpOC™), carboxyhemoglobin (SpCO®), methemoglobin (SpMet®), Pleth Variability Index (PVI®), perfusion index (PI), and acoustic respiration rate (RRa™), in addition to Measure-through Motion and Low Perfusion performance of Masimo SET oxyhemoglobin (SpO2), and pulse rate (PR).
Masimo Patient SafetyNet™ Remote Monitoring & Clinician Notification System
The Masimo Patient SafetyNet remote monitoring and clinician notification system combines Masimo rainbow SET Pulse CO-Oximetry™ and rainbow® Acoustic Monitoring with wireless clinician notifications via pager or smartphone – providing an unmatched level of safety for up to 80 patients on four floors. Patient SafetyNet facilitates appropriate early clinical response to preempt sentinel events and avoid unnecessary ICU transfers while helping meet Joint Commission, APSF, and ASA guidelines for patient safety.
"We are happy to announce this new agreement with Novation," said Jon Coleman, Masimo's President of World Wide Sales and Marketing. "Since being added to the Novation contract in 2003, our annualized sales to Novation hospitals has increased by over 4,000%, signifying the demand for our technology. Through this agreement, VHA and UHC members have access to Masimo SET pulse oximetry products and rainbow SET technology that may allow clinicians to detect and treat an expanding number of potentially life-threatening conditions."
(1) Shah N et al. Anesthesiology. 2006;105:A929. (abstract)
Masimo (NASDAQ: MASI) is the global leader in innovative noninvasive monitoring technologies that significantly improve patient care—helping solve "unsolvable" problems. In 1995, the company debuted Measure-Through Motion and Low Perfusion pulse oximetry, known as Masimo SET®, which virtually eliminated false alarms and increased pulse oximetry's ability to detect life-threatening events. More than 100 independent and objective studies demonstrate Masimo SET provides the most reliable SpO2 and pulse rate measurements even under the most challenging clinical conditions, including patient motion and low peripheral perfusion. In 2005, Masimo introduced rainbow SET® Pulse CO-Oximetry™ technology, allowing noninvasive and continuous monitoring of blood constituents that previously required invasive procedures, including total hemoglobin (SpHb®), oxygen content (SpOC™), carboxyhemoglobin (SpCO®), methemoglobin (SpMet®), and Pleth Variability Index (PVI®), in addition to SpO2, pulse rate, and perfusion index (PI). In 2008, the company introduced Masimo Patient SafetyNet™, a remote monitoring and wireless clinician notification system designed to help hospitals avoid preventable deaths and injuries associated with failure to rescue events. In 2009, Masimo introduced rainbow Acoustic Monitoring™, the first-ever noninvasive and continuous monitoring of acoustic respiration rate (RRa™). Masimo's rainbow SET technology platform offers a breakthrough in patient safety by helping clinicians detect life-threatening conditions and helping guide treatment options. In 2010, Masimo acquired SEDLine®, a pioneer in the development of innovative brain function monitoring technology and devices. Masimo SET and Masimo rainbow SET technologies can be also found in over 100 multiparameter patient monitors from over 50 medical device manufacturers around the world. Founded in 1989, Masimo has the mission of "Improving Patient Outcome and Reducing Cost of Care ... by Taking Noninvasive Monitoring to New Sites and Applications®." Additional information about Masimo and its products may be found at www.masimo.com.
This press release includes forward-looking statements as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, in connection with the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations about future events affecting us and are subject to risks and uncertainties, all of which are difficult to predict and many of which are beyond our control and could cause our actual results to differ materially and adversely from those expressed in our forward-looking statements as a result of various risk factors, including, but not limited to: risks related to our assumptions of the repeatability of clinical results obtained using the new Masimo Pronto-7 and noninvasive sensor sizes, risks related to our belief that the Pronto-7 enables quick and easy noninvasive spot-checking of hemoglobin (SpHb®), SpO2, pulse rate, and perfusion index at the point-of-care for all patients, as well as other factors discussed in the "Risk Factors" section of our most recent reports filed with the Securities and Exchange Commission ("SEC"), which may be obtained for free at the SEC's website at www.sec.gov. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. All forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of today's date. We do not undertake any obligation to update, amend or clarify these statements or the "Risk Factors" contained in our most recent reports filed with the SEC, whether as a result of new information, future events or otherwise, except as may be required under the applicable securities laws.
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Masimo, SET, Signal Extraction Technology, Improving Patient Outcome and Reducing Cost of Care... by Taking Noninvasive Monitoring to New Sites and Applications, rainbow, SpHb, SpOC, SpCO, SpMet, PVI, rainbow Acoustic Monitoring, RRa, Radical-7, Rad-87, Rad-57,Rad-8, Rad-5,Pulse CO-Oximetry, Pulse CO-Oximeter, Adaptive Threshold Alarm, and SEDLine are trademarks or registered trademarks of Masimo Corporation. The use of the trademarks Patient SafetyNet and PSN are under license from University HealthSystem Consortium.
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