Masimo Signs Agreement with Premier for Masimo SET Pulse Oximetry, and New Masimo Rainbow SET™ Pulse CO-Oximetry
IRVINE, California- Masimo today announced that it has signed a three-year, multisource agreement with Premier Inc., a healthcare alliance entirely owned by more than 200 of the nation's leading hospital and healthcare systems. The agreement covers Masimo SET® pulse oximetry and Masimo Rainbow SET Pulse CO-Oximetry™, including standalone monitoring devices, handhelds and sensors.
Masimo is the inventor of read-through motion and low-perfusion pulse oximetry, a technology called Masimo SET, which has been proven more accurate and reliable in the most challenging clinical settings by over 100 peer reviewed published clinical studies. Building on this technology platform, Masimo has recently introduced Masimo Rainbow SET, a new technology that uses eight wavelengths of light to allow clinicians to capture and monitor an unprecedented array of patient physiological data noninvasively. Rainbow SET capabilities will be available in Masimo monitors and in multi-parameter patient monitors produced by leading manufacturers.
The Rad-57™ Pulse CO-Oximeter™, the first FDA cleared Rainbow SET product from Masimo, is a handheld device that allows clinicians to detect and monitor carbon monoxide levels in the bloodstream non-invasively. In clinical studies and in the field, Masimo Rainbow SET is already proving itself effective in detecting carbon monoxide poisoning in seconds, allowing accurate diagnosis and early treatment of a life-threatening problem that is frequently misdiagnosed as flu or migraine. Masimo has announced that it has other new Rainbow SET monitoring capabilities in advanced development and that the ability to noninvasively detect and monitor methemoglobin levels in the blood is pending FDA clearance. A recent Johns Hopkins study found that methemoglobinemia, a potentially lethal condition that starves the tissues of oxygen, is much more common in hospitalized patients than previously realized.
Joe E. Kiani, Masimo's Chairman and CEO stated, "We are happy to announce this new agreement with Premier. Since being added to the Premier contract in October 2002, our annualized sales to Premier hospitals have increased by over 7,500%, signifying the demand for our technology. Through this new agreement, Premier hospital members will continue to have access to superior Masimo SET pulse oximetry products as well as Masimo Rainbow SET technology, that will allow earlier detection and treatment of an expanding number of potentially life-threatening conditions."
About Premier, Inc.
Premier Inc., helps hospitals accelerate performance on both clinical outcomes and supply chain costs. Premier is a healthcare alliance entirely owned by more than 200 of the nation's leading not-for-profit hospital and healthcare systems. These organizations operate or are affiliated with nearly 1,500 hospitals and more than 37,000 other healthcare sites. Premier Purchasing Partners provides an array of services supporting health services delivery including group purchasing totaling more than $25 billion annually in supplies and equipment purchasing, as well as supply chain and clinical performance improvement services. Premier Healthcare Informatics offers performance measurement, benchmarking, and reporting products and advisory services supporting quality improvement. Premier Insurance Management Services helps hospitals manage insurance costs and improve risk management and claims capabilities. Headquartered in San Diego, CA, Premier has offices in Charlotte, NC, Chicago, and Washington, DC. For more information, visit www.premierinc.com.
Masimo develops innovative monitoring technologies that significantly improve patient care- helping solve "unsolvable" problems. In 1995, the company debuted Read-Through Motion and Low Perfusion pulse oximetry, known as SET, and with it virtually eliminated false alarms and increased pulse oximetry's ability to detect life-threatening events. Over 100 clinical studies have confirmed that Masimo SET technology allows clinicians to accurately monitor blood oxygen saturation in critical care situations. In 2005 Masimo introduced Rainbow SET and with it, Pulse CO-Oximetry, which, for the first time, noninvasively monitors the level of carbon monoxide and methemoglobin in the blood, allowing early detection and treatment of potentially life-threatening conditions.
Masimo, founded in 1989, 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
Masimo, SET, Signal Extraction Technology and Improving and Reducing Cost of Care by Taking Noninvasive Monitoring to New Sites and Applications are registered trademarks of Masimo Corp. Rainbow and Pulse CO-Oximetry are trademarks of Masimo Labs.