Novation, MedAssets Supply Chain Systems, and Amerinet Also Extend Existing Multi-Year Supplier Agreements
IRVINE, Calif., March 2 /PRNewswire-FirstCall/ -- Masimo (Nasdaq: MASI), the inventor of Pulse CO-Oximetry(TM) and Measure-Through Motion and Low-Perfusion pulse oximetry, announced today that three of the nation's top hospital Group Purchasing Organizations (GPOs) have established a new Pulse CO-Oximetry(TM) category and extended multi-year supplier agreements for Masimo SET(R) pulse oximetry and Masimo Rainbow SET(R) Pulse CO-Oximetry products. Masimo licenses the technology and supplies Pulse CO-Oximetry products that noninvasively measure multiple blood constituents, which previously required invasive blood drawing procedures.
Establishing a new Pulse CO-Oximetry product category on national contract portfolios allows Novation, MedAssets Supply Chain Systems, and Amerinet to offer an innovative new selection of patient monitoring devices clinically proven to help clinicians provide earlier detection of potentially life-threatening conditions. This enables customer hospitals and healthcare facilities to purchase breakthrough noninvasive blood monitoring products that may increase patient safety, improve the quality of care, and reduce the cost of care at a great value.
Mark Miriani, President, MedAssets Supply Chain Systems, stated: "MedAssets remains focused on the important trends and issues facing the healthcare community and we recognize the importance of providing advanced technology solutions and innovative new product offerings to our customers. Pulse CO-Oximetry has the potential to improve patient safety and clinical performance, thereby delivering greater value to both hospitals and patients. We are proud to be among the first to offer Masimo Rainbow SET Pulse CO-Oximetry products on contract to our customers, creating the opportunity for measurable performance improvement as well as cost savings."
Brad Morgan, Director of Material Management, The Heart Hospital Baylor Plano, stated: "We are pleased that our GPO is making medical technologies like Masimo Rainbow SET available."
Masimo Rainbow SET Pulse CO-Oximetry is a noninvasive monitoring platform that measures multiple blood constituents and helps to predict fluid responsiveness in patients previously requiring invasive procedures. The first-and-only upgradable technology platform capable of continuously and noninvasively measuring total hemoglobin (SpHb(TM)), oxygen content (SpOC(TM)), carboxyhemoglobin (SpCO(R)), methemoglobin (SpMet(R)), and pleth variability index (PVI(TM)), in addition to oxyhemoglobin (SpO2), pulse rate (PR), and perfusion index (PI), Masimo Rainbow SET has the potential to facilitate faster, easier and safer health decisions.
Martin Allard, M.B.Ch.B, FRC, Anesthesiologist,
Rick Fishel, Masimo President of Americas and Worldwide OEM Business, stated: "Novation, MedAssets, and Amerinet are leading the way toward a new paradigm of potentially more effective and efficient patient care enabled by state-of-the-art noninvasive medical devices. These new GPO agreements reinforce the clinical and operational adoption of Masimo Rainbow SET Pulse CO-Oximetry as an emerging standard of care."
Masimo (NASDAQ: MASI) develops innovative 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(R), 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 Masimo Rainbow SET(R) Pulse CO-Oximetry(TM), a breakthrough noninvasive blood constituent monitoring platform that can measure many blood constituents that previously required invasive procedures. Masimo Rainbow SET continuously and noninvasively measures total hemoglobin (SpHb(TM)), oxygen content (SpOC(TM)), carboxyhemoglobin (SpCO(R)), methemoglobin (SpMet(R)), and PVI(TM), in addition to oxyhemoglobin (SpO2), pulse rate (PR), and perfusion index (PI), allowing early detection and treatment of potentially life-threatening conditions. Founded in 1989, Masimo has the mission of "Improving Patient Outcomes 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.
Forward Looking Statements
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 belief that creation of a new GPO product category for Pulse CO-Oximetry will serve to broaden the use of Masimo Rainbow SET Pulse CO-Oximetry products or provide substantially increased revenues, and risks related to our assumptions that Rainbow measurements will deliver a sufficient level of clinical improvement over alternative capabilities to allow for rapid adoption of the technology, as well as other factors discussed in the "Risk Factors" section of our Quarterly Report on Form 10-Q for the fiscal quarter ended September 27, 2008, filed with the Securities and Exchange Commission ("SEC") on October 29, 2008, 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 forward-looking statements or the "Risk Factors" contained in our Quarterly Report on Form 10-Q for the fiscal quarter ended September 27, 2008, whether as a result of new information, future events or otherwise, except as may be required under the applicable securities laws.
Contact: Dana Banks Masimo Corporation 949-297-7348
Masimo, SET, Signal Extraction Technology, Improving Outcomes and Reducing Cost of Care by Taking Noninvasive Monitoring to New Sites and Applications, Rainbow, SpHb, SpOC, SpCO, SpMet, PVI, Radical-7, Rad-87, Rad-57,Rad-9, Rad-8, Rad-5,Pulse CO-Oximetry and Pulse CO-Oximeter are trademarks or registered trademarks of Masimo Corporation. Other trademarks used herein are the property of their respective owners.
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