Letter From the Chief Executive Officer

Letter From the Chief Executive Officer

 

Advancing the Standard of Care

As the world adjusted to COVID-19, Masimo was at the forefront of innovation, supplying critical solutions needed to meet the new demands. Our ingenuity, agility, and dedication to our guiding principles and mission allowed us to shine brightly again last year.

Then, as the pandemic evolved and healthcare institutions faced unexpected challenges that pushed them to their limits, Masimo adapted our solutions in real time to meet the shifting demands of the healthcare landscape, while also finding creative ways to ensure our partners received a steady supply of high-quality sensors, medical technologies, and support services.

Our growing range of new solutions, including robust remote monitoring and telehealth systems, as well as noninvasive ventilation and hospital automation technologies, delivered meaningful clinical innovation designed to help enhance consistency across the continuum of care and improve patient outcomes.

I’m proud to say we kept our promises to care providers and patients during surges in patient volume—but did not stop there. As we focused on our partners’ immediate care needs, we simultaneously prepared for the post-pandemic future. By continued close analysis of global health trends, listening to our healthcare partners, and learning from the pain points exposed by COVID-19, our engineers were working to develop next-generation perioperative, telehealth, remote monitoring, and hospital automation solutions, and last—but not least—cutting-edge consumer healthcare technologies. This simultaneous focus and our ever-deepening portfolio will help ensure Masimo will continue to be the leader in hospital and home medical technologies for years to come.

Our accomplishments this past year demonstrate our continued commitment to advancing the standard of care and improving patient safety for the benefit of all people globally during and after the pandemic.

 

Meeting Patients Where They Are

While healthcare is traditionally slow to adopt new technologies and methods of care, the pandemic presented a scenario that demanded a quick and dramatic pivot from traditional models of care to telehealth and hospital-at-home solutions.

Many medical technology companies were simply not prepared for this sudden transition or unable to meet the evolving needs of the healthcare system. Masimo was ready. Our portfolio of clinically superior solutions combines cutting-edge tetherless capabilities and superior sensor accuracy with powerful automation capabilities and secure cloud infrastructure. This powerhouse combination differentiates Masimo as uniquely capable of supporting the needs of both clinicians and patients in a future increasingly focused on telehealth.

Nowhere was this more evident than in the earliest days of the pandemic, when our brilliant engineers worked at a phenomenal pace to transform a promising technology intended for opioid overdose detection into a revolutionary remote patient management system. That system, known as Masimo SafetyNet® COVID, combined continuous tetherless oxygen saturation, respiration rate, pulse rate, and temperature measurements with a cloud-based patient surveillance platform to help alleviate overwhelmed care centers. The positive impact of Masimo SafetyNet COVID cannot be overstated—and it continues to help clinicians save patient lives across the world.

Since its launch, the Masimo SafetyNet system has grown to become the foundation of a robust telehealth platform. Following its unparalleled success during the pandemic, we have expanded the system’s capabilities to accommodate a host of new features, including spot-check devices, EMR and ADT integration, high-frequency health data downloads, and text message alert notifications. At this year’s Arab Health, we debuted multi-way video consultations, making Masimo SafetyNet a truly one-of-a-kind telehealth platform.

 

A Global Force for Patient Safety: 2021 Highlights

Masimo achieved many impressive financial milestones in 2021, including record product revenues amounting to 8% growth over the previous year’s unprecedented pandemic driven growth of 22%. Moreover, we shipped 289,000 technology boards and monitors—a truly remarkable feat considering the supply chain volatility that hobbled many others.

Furthermore, we advanced our efforts to enhance patient safety by rapidly expanding our clinical portfolio with the addition of LiDCO™ hemodynamic monitoring. When used with Root®, the addition of LiDCO helps care teams visualize multiple advanced parameters simultaneously on a single, centralized screen, including SedLine® brain function monitoring, O3® regional oximetry, NomoLine® capnography, and PVi®. With Root’s flexible, modular design and connectivity and hospital automation features, the platform offers healthcare providers an unrivaled solution.

Finally, 2021 saw our direct-to-consumer product line expand with the European launch of Masimo SafetyNet Alert™*—a first-of-its-kind monitoring system that combines tetherless, continuous blood oxygenation and pulse rate monitoring with escalating alerts. The system is designed to help monitor patients at home who are at risk of respiratory problems, whether from use of opioids or because of asthma, COPD, COVID-19, or other conditions.

 

At the Forefront of 21st Century Healthcare

As we embark on 2022, the future is exciting at Masimo.

With the recent addition of Bowers & Wilkins, Denon, HEOS, Marantz, and Polk Audio, we are poised to transform the consumer healthcare experience and rapidly increase the availability of our direct-to-consumer technologies. On the clinical front, we are leveraging our renowned sensor and signal processing prowess, as well as a progressive vision of the future of health care, to enhance continuity across every care area, improve patient safety in the hospital, and at home, and continue to advance the standard of care around the world.

Thirty-three years ago, we began a journey to solve the unsolvable, and with that, take noninvasive monitoring to new sites and applications. Today, we embark on a new journey—one full of possibilities that will give new meanings to our mission. Just as we have over the last three decades, this next chapter will lead to solutions that change our expectations of monitoring, enhance how care is experienced in the hospital, the home, and on the go, and improve lives in ways we have always intended, but could not—until now—achieve.

And, we will watch as this new generation of Masimo innovations sparks creativity and ingenuity in others, who will leverage our solutions to invent new ways to improve lives and, we hope, help give rise to the next age of healthcare.

Together in health,
Joe Kiani
Founder, Chairman & CEO

References:

  1. *

    Masimo SafetyNet Alert is pending U.S. FDA De Novo clearance.

PLCO-006008/PLMM-12030B-0622