Masimo Partners with Google to Develop a Reference Platform That Helps Device Manufacturers Bring High-performing Wear OS Smartwatches to Market

Rhea-AI Summary

Masimo (NASDAQ: MASI) has announced a partnership with Google to develop a reference platform for Wear OS smartwatches. This collaboration aims to help original equipment manufacturers (OEMs) efficiently build and launch high-performing smartwatches. The platform will incorporate Masimo's advanced biosensing technologies, leveraging their expertise in hospital monitoring solutions.

Key features of the reference platform include:

• Trusted health and wellness tracking tools
• Seamless integration with Android smartphones
• High-quality, high-performance experience
• Compatibility with existing Google apps and services
• Optimized hardware and software components
• Biosensors and companion Android smartphone app designed by Masimo

This partnership is expected to accelerate innovation in the Wear OS ecosystem, offering consumers a wider range of feature-rich devices to choose from.

Positive

• Partnership with Google to develop a reference platform for Wear OS smartwatches
• Potential for increased market share in the smartwatch industry
• Leveraging Masimo's expertise in biosensing technologies for consumer wearables
• Expansion of Masimo's technology into the growing Wear OS ecosystem

Negative

• None.

Insights

Tech Expert

Masimo's partnership with Google to develop a reference platform for Wear OS smartwatches is a significant move in the wearable tech industry. This collaboration combines Masimo's expertise in biosensing technologies with Google's software ecosystem, potentially accelerating innovation and improving the quality of health-tracking features in smartwatches. The platform's standardization could lead to faster time-to-market for OEMs and more consistent performance across devices. This could help Wear OS compete more effectively with Apple's watchOS, potentially expanding Masimo's market reach beyond medical devices into consumer wearables. However, the success will depend on OEM adoption and consumer reception to these enhanced health features.

Medical Research Analyst

The integration of Masimo's Signal Extraction Technology (SET) into consumer smartwatches is a significant advancement for personal health monitoring. SET is known for its accuracy in hospital settings, particularly in challenging conditions. Bringing this level of precision to wearables could vastly improve the reliability of health data collected by smartwatches, potentially enabling more meaningful health insights for users. This could bridge the gap between consumer and medical-grade devices, opening up possibilities for remote patient monitoring and early detection of health issues. However, it's important to note that regulatory approval may be needed for certain health-tracking features, which could impact the rollout and adoption of these advanced capabilities.

Financial Analyst

This partnership represents a strategic diversification for Masimo, expanding from its core medical device market into the broader consumer wearables sector. The potential revenue streams include licensing fees from OEMs and possibly revenue sharing from app subscriptions. The smartwatch market is projected to grow at a CAGR of 14.1% from 2023 to 2030, presenting a significant growth opportunity for Masimo. However, this move also exposes Masimo to increased competition from established consumer electronics brands. The success of this venture will likely depend on the adoption rate by OEMs and the perceived value of Masimo's technology by end-users. Investors should monitor OEM partnerships and consumer reception to gauge the long-term impact on Masimo's financials.

Comprehensive Smartwatch Reference Platform to Include Key Hardware and Software Components, Including Industry-leading Masimo Biosensing Capabilities

IRVINE, Calif.--(BUSINESS WIRE)-- Masimo (NASDAQ: MASI), a leading global medical innovator, today announced a partnership with Google to develop a new reference platform for original equipment manufacturers (OEMs) building Wear OS by Google™ smartwatches. By incorporating Masimo’s breakthrough biosensing technologies – based on its decades of expertise developing industry-leading hospital monitoring solutions – and standardizing smartwatch devices using the Masimo reference platform, OEMs will be able to more efficiently build and bring high-performing Wear OS smartwatches to market. The robust reference platform is designed to support the fast-growing Wear OS ecosystem – including with a suite of health and wellness tracking tools that consumers can trust to provide accurate, reliable data, seamless integration with Android™ smartphones, and a high-quality, high-performance experience.

Masimo and Wear OS by Google (Graphic: Business Wire)

Joe Kiani, Founder and CEO of Masimo, said, “We’re excited to partner with Google to develop a reference platform for Wear OS that leverages our expert engineering capabilities. Our ability to craft next generation biosensing technologies, precision components, and advanced signal processing algorithms, with rigor and discipline honed over decades, is an excellent foundation for creating a world-class smartwatch reference platform. From hardware to software, Masimo engineers are optimizing the ‘guts’ of the smartwatch – and working with Google to offer OEMs an incredible Wear OS smartwatch solution. Much as numerous leading hospital monitor manufacturers incorporate Masimo monitoring technologies to offer hospitals the best possible patient monitoring solutions, we expect this new wearable platform to supercharge smartwatch OEMs’ abilities to create innovative, competitive, and truly compelling Wear OS smartwatches for consumers everywhere.”

Bjorn Kilburn, GM of Wear OS at Google, added, “Building quality smartwatches with premium features that users have come to expect can be time consuming and costly. With Masimo's reference platform, smartwatch makers are able to benefit from state-of-the-art biosensing technology and quickly bring their Wear OS devices to market, at scale. Together, we're promoting innovation across the Wear OS ecosystem that provides end users with high-performing, feature-rich devices to choose from.”

OEMs who adopt the new Masimo platform, which is expected to be compatible with existing Google apps and services created for the Wear OS platform, will continue to design and produce their new smartwatches’ physical exteriors and have creative control over the appearance of the user interface. The devices’ interiors, including optimized hardware and software components, biosensors, and companion Android smartphone app, will be designed, provided, and tested by Masimo – ensuring superior performance and unmatched user experiences. Health and wellness capabilities will feature the same biosensing innovations and analytics that power the Masimo W1^® wearable and forthcoming Masimo Freedom™ smartwatch – technology based on Masimo’s clinically proven, industry-leading Signal Extraction Technology^® (SET^®). The Masimo reference platform will make all of these components, features, and benefits available for smartwatch manufacturers building Wear OS smartwatches in an easy-to-implement, standardized package.

Google, Android and Wear OS by Google are trademarks of Google LLC.

@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.^4-5 Masimo SET^® is estimated to be used on more than 200 million patients in leading hospitals and other healthcare settings around the world,⁶ and is the primary pulse oximetry at all 10 top U.S. hospitals as ranked in the 2024 Newsweek World’s Best Hospitals listing.⁷ 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^® and the Masimo W1^® Medical Watch. 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 Masimo W1 Sport. 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/.

References

1. Published clinical studies on pulse oximetry and the benefits of Masimo SET^® can be found on our website. 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. 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.
5. 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.
6. Estimate: Masimo data on file.
7. https://www.newsweek.com/rankings/worlds-best-hospitals-2024/united-states

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 include, among others, statements regarding the future development, efficiency, potential performance and adoption of the new Masimo reference platform for Wear OS (the “Platform”), including the potential to create a world-class smartwatch reference platform and the expectation for the platform to be fully compatible with existing Google apps and services created for the Wear OS platform. 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 Masimo's unique noninvasive measurement technologies, including the Platform, contribute to accurate, reliable data; risks related to our belief that Masimo noninvasive medical breakthroughs provide cost-effective solutions and unique advantages; risks related to the assumption that the Platform will be available for integration into future Wear OS OEM smartwatches; risks related to the assumption that new smartwatches produced by the OEMs adopting the Platform will have the features, components and benefits as mentioned in this press release; 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240913710494/en/

Masimo

Evan Lamb

949-396-3376

elamb@masimo.com

Source: Masimo

FAQ

What is the purpose of Masimo's partnership with Google for Wear OS smartwatches?

Masimo is partnering with Google to develop a reference platform that will help OEMs efficiently build and bring high-performing Wear OS smartwatches to market, incorporating Masimo's advanced biosensing technologies.

How will the Masimo-Google partnership affect Wear OS smartwatch manufacturers?

The partnership will provide OEMs with a standardized package of optimized hardware and software components, biosensors, and a companion Android app, allowing them to focus on design while ensuring superior performance and user experience.

What technologies will be included in the Masimo reference platform for Wear OS smartwatches?

The platform will include Masimo's biosensing innovations and analytics, based on their Signal Extraction Technology (SET), which powers the Masimo W1 wearable and upcoming Masimo Freedom smartwatch.

When will Masimo's reference platform for Wear OS smartwatches be available to OEMs?

The press release does not specify a release date for the reference platform. It states that the platform is being developed, suggesting it will be available to OEMs in the future.