Masimo and Temple Health Form Innovation Collaboration with Focus on Hospital Automation and Telehealth Initiatives

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Masimo (NASDAQ: MASI), a leading global provider of medical technology and automation solutions, and Temple Health , Philadelphia’s 979-bed academic health system, announced today that they are entering into a strategic innovation collaboration.

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Tuesday, March 7, 2023
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Software, Practice Management, Telemedicine, Virtual Medicine, Health, Medical Devices, Hospitals, Health Technology, Technology, Life, Radius, Sepsis, Uniview, MASI, RN, Patient, Multimedia, Nursing, Temple Health, MSN, FDA, Health equity, Automation, Associate, Temple University Hospital, Medical device, Masimo
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NASDAQ:MASI
Summary
Key Points: 
  • Masimo (NASDAQ: MASI), a leading global provider of medical technology and automation solutions, and Temple Health , Philadelphia’s 979-bed academic health system, announced today that they are entering into a strategic innovation collaboration.
  • The collaboration is designed to further the organizations’ mutual goals of improving health, increasing care value, and transforming models of care delivery.
  • View the full release here: https://www.businesswire.com/news/home/20230307005243/en/
    Joseph DiMartino, MSN, RN, Associate Vice President of Nursing at Temple University Hospital, said, “Temple Health is committed to driving medical advances through clinical innovation, pioneering research and world-class education.
  • Participation in the Temple Health “Collaboratory,” where the latest Masimo technologies will be trialed and refined before broader deployment.


Masimo (NASDAQ: MASI), a leading global provider of medical technology and automation solutions, and Temple Health, Philadelphia’s 979-bed academic health system, announced today that they are entering into a strategic innovation collaboration. With an emphasis on advancing the forefront remote patient monitoring and telehealth, as well as automating high-quality care, the collaboration may include the use of such innovations as the Masimo W1™ advanced health tracking watch, the Radius VSM™ tetherless, multimodal patient monitor, and Masimo Hospital Automation™ solutions like UniView®, UniView :60™, Halo ION®, and Sepsis Index™ for Patient SafetyNet™. The collaboration is designed to further the organizations’ mutual goals of improving health, increasing care value, and transforming models of care delivery.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230307005243/en/

Masimo UniView® (Photo: Business Wire)

Masimo UniView® (Photo: Business Wire)

Joseph DiMartino, MSN, RN, Associate Vice President of Nursing at Temple University Hospital, said, “Temple Health is committed to driving medical advances through clinical innovation, pioneering research and world-class education. Our commitment aligns with Masimo’s vision for achieving tomorrow’s outcomes and helping institutions like ours improve and automate the ways we monitor physiological status across more care areas than ever before, as well as extend high-quality care beyond the hospital and into the home. We have collaborated with Masimo since 2008, starting with Masimo SET® pulse oximetry, which has then expanded into other technology avenues that really help streamline clinical workflows and put our patients’ safety at the forefront. We are particularly excited by Masimo’s innovations in telehealth, remote patient monitoring, and automation, and how they can help us support improved outcomes for our patients both within and after they have left the hospital. The future is bright with Masimo as a technology partner.”

Joe Kiani, Founder and CEO of Masimo, added, “We are delighted to expand our relationship with Temple Health through this innovation collaboration, and to work hand in hand to explore how Masimo’s monitoring, connectivity, and automation technologies, alongside Temple Health’s clinical expertise, can bring safe, easy-to-use, high-quality telehealth and remote patient monitoring services to their patients. We are committed to improving life, improving patient outcomes, and reducing the cost of care.”

Temple Health and Masimo plan to collaborate in a number of areas, including:

  • Demonstrating the future of healthcare, for the benefit of the broader healthcare ecosystem, through the deployment of next-generation technologies, therapies, devices, and systems designed to advance patient-centered care across the care continuum, and especially in the automation, remote patient monitoring, and telehealth space.
  • Raising awareness of the importance of health equity by leveraging their expertise and regional influence to positively impact access to quality care for all Philadelphia residents.
  • Participation in the Temple Health “Collaboratory,” where the latest Masimo technologies will be trialed and refined before broader deployment.
  • Joint investigation of best practices for minimizing technology obsolescence in healthcare, a key focus as automation and telehealth infrastructure become more and more sophisticated.
  • Clinical and technological exchanges between key leaders designed to advance the frontiers of healthcare.
  • Joint clinical research opportunities in in-patient, out-patient, and home-based settings, with cooperation and co-development on technological innovations.

In the U.S., Masimo W1 as a medical device and Masimo Radius VSM are pending FDA clearance. Sepsis Index is not FDA cleared.

@Masimo | #Masimo

About Masimo

Masimo (NASDAQ: MASI) is a global medical technology company that develops and produces a wide array of industry-leading monitoring technologies, including innovative measurements, sensors, patient monitors, and automation and connectivity solutions. In addition, Masimo Consumer Audio is home to eight legendary audio brands, including Bowers & Wilkins, Denon, Marantz, and Polk Audio. Our mission is to improve life, improve patient outcomes, and reduce the cost of care. Masimo SET® Measure-through Motion and Low Perfusion™ pulse oximetry, introduced in 1995, has been shown in over 100 independent and objective studies to outperform other pulse oximetry technologies.1 Masimo SET® has also been shown to help clinicians reduce severe retinopathy of prematurity in neonates,2 improve CCHD screening in newborns,3 and, when used for continuous monitoring with Masimo Patient SafetyNet™ in post-surgical wards, reduce rapid response team activations, ICU transfers, and costs.4-7 Masimo SET® is estimated to be used on more than 200 million patients in leading hospitals and other healthcare settings around the world,8 and is the primary pulse oximetry at 9 of the top 10 hospitals as ranked in the 2022-23 U.S. News and World Report Best Hospitals Honor Roll.9 In 2005, Masimo introduced rainbow® Pulse CO-Oximetry technology, allowing noninvasive and continuous monitoring of blood constituents that previously could only be measured invasively, including total hemoglobin (SpHb®), oxygen content (SpOC™), carboxyhemoglobin (SpCO®), methemoglobin (SpMet®), Pleth Variability Index (PVi®), RPVi™ (rainbow® PVi), and Oxygen Reserve Index (ORi™). In 2013, Masimo introduced the Root® Patient Monitoring and Connectivity Platform, built from the ground up to be as flexible and expandable as possible to facilitate the addition of other Masimo and third-party monitoring technologies; key Masimo additions include Next Generation SedLine® Brain Function Monitoring, O3® Regional Oximetry, and ISA™ Capnography with NomoLine® sampling lines. Masimo’s family of continuous and spot-check monitoring Pulse CO-Oximeters® includes devices designed for use in a variety of clinical and non-clinical scenarios, including tetherless, wearable technology, such as Radius-7®, Radius PPG®, and Radius VSM™, portable devices like Rad-67®, fingertip pulse oximeters like MightySat® Rx, and devices available for use both in the hospital and at home, such as Rad-97®. Masimo hospital and home automation and connectivity solutions are centered around the Masimo Hospital Automation™ platform, and include Iris® Gateway, iSirona™, Patient SafetyNet, Replica®, Halo ION®, UniView®, UniView :60™, and Masimo SafetyNet®. Its growing portfolio of health and wellness solutions includes Radius Tº® and the Masimo W1™ watch. Additional information about Masimo and its products may be found at www.masimo.com. Published clinical studies on Masimo products can be found at www.masimo.com/evidence/featured-studies/feature/.

ORi, RPVi, and Radius VSM have not received FDA 510(k) clearance and are not available for sale in the United States. The use of the trademark Patient SafetyNet is under license from University HealthSystem Consortium.

References

  1. Published clinical studies on pulse oximetry and the benefits of Masimo SET® can be found on our website at http://www.masimo.com. Comparative studies include independent and objective studies which are comprised of abstracts presented at scientific meetings and peer-reviewed journal articles.
  2. Castillo A et al. Prevention of Retinopathy of Prematurity in Preterm Infants through Changes in Clinical Practice and SpO2 Technology. Acta Paediatr. 2011 Feb;100(2):188-92.
  3. de-Wahl Granelli A et al. Impact of pulse oximetry screening on the detection of duct dependent congenital heart disease: a Swedish prospective screening study in 39,821 newborns. BMJ. 2009;Jan 8;338.
  4. Taenzer A et al. Impact of pulse oximetry surveillance on rescue events and intensive care unit transfers: a before-and-after concurrence study. Anesthesiology. 2010:112(2):282-287.
  5. Taenzer A et al. Postoperative Monitoring – The Dartmouth Experience. Anesthesia Patient Safety Foundation Newsletter. Spring-Summer 2012.
  6. McGrath S et al. Surveillance Monitoring Management for General Care Units: Strategy, Design, and Implementation. The Joint Commission Journal on Quality and Patient Safety. 2016 Jul;42(7):293-302.
  7. McGrath S et al. Inpatient Respiratory Arrest Associated With Sedative and Analgesic Medications: Impact of Continuous Monitoring on Patient Mortality and Severe Morbidity. J Patient Saf. 2020 14 Mar. DOI: 10.1097/PTS.0000000000000696.
  8. Estimate: Masimo data on file.
  9. http://health.usnews.com/health-care/best-hospitals/articles/best-hospitals-honor-roll-and-overview.

Forward-Looking Statements - Masimo

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 include, among others, statements regarding the potential effectiveness of Masimo W1™, Radius VSM™, Hospital Automation™, UniView®, UniView :60™, Halo Index®, Sepsis Index™, and Patient SafetyNet™. 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 regarding the repeatability of clinical results; risks related to our belief that Masimo's unique noninvasive measurement technologies, including Masimo W1, Radius VSM, Hospital Automation™, UniView®, UniView :60™, Halo Index®, Sepsis Index™, and Patient SafetyNet™, contribute to positive clinical outcomes and patient safety; risks related to our belief that Masimo noninvasive medical breakthroughs provide cost-effective solutions and unique advantages; risks that Masimo may not realize the expected benefits and goals that may be achieved by its collaboration with Temple Health; risks that Masimo and Temple Health fail to collaborate in the areas stated in this press release as planned; risks related to COVID-19; 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.

About Temple Health

Temple University Health System (Temple Health) is a $2.4 billion academic health system dedicated to providing access to quality patient care and supporting excellence in medical education and research. Temple Health includes Temple University Hospital (TUH)-Main Campus; TUH-Episcopal Campus; TUH-Jeanes Campus; TUH-Northeastern Campus; Temple University Hospital – Fox Chase Cancer Center Outpatient Department; TUH-Northeastern Endoscopy Center; The Hospital of Fox Chase Cancer Center, together with The Institute for Cancer Research, an NCI-designated comprehensive cancer center; Fox Chase Cancer Center Medical Group, Inc., The Hospital of Fox Chase Cancer Center’s physician practice plan; Temple Transport Team, a ground and air-ambulance company; Temple Physicians, Inc., a network of community-based specialty and primary-care physician practices; and Temple Faculty Practice Plan, Inc., Temple Health’s physician practice plan. Temple Health is affiliated with the Lewis Katz School of Medicine at Temple University.

Temple Health refers to the health, education and research activities carried out by the affiliates of Temple Health and by the Katz School of Medicine. Temple Health neither provides nor controls the provision of health care. All health care is provided by its member organizations or independent health care providers affiliated with Temple Health member organizations. Each Temple Health member organization is owned and operated pursuant to its governing documents.

Non-discrimination notice: It is the policy of Temple University Hospital and The Hospital of Fox Chase Cancer Center, that no one shall be excluded from or denied the benefits of or participation in the delivery of quality medical care on the basis of race, ethnicity, religion, sexual orientation, gender, gender identity/expression, disability, age, ancestry, color, national origin, physical ability, level of education, or source of payment.

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