Masimo Receives Sustainability Seal of Approval from Practice Greenhealth

Rhea-AI Summary

Masimo (NASDAQ: MASI), a leader in medical technology, has been awarded the Greenhealth Approved seal by Practice Greenhealth. This recognition makes Masimo's RD pulse oximetry sensors the first in their category to meet stringent sustainability criteria. The Greenhealth seal helps healthcare providers identify environmentally preferable products effortlessly. Masimo's commitment to sustainability includes reducing waste by 84% with single-patient-use sensors, achieving zero waste to landfill through recycling, and using low-profile, lightweight components. These efforts underline Masimo's dedication to both patient care and environmental responsibility.

Positive

• Masimo is the first pulse oximetry manufacturer to receive the Greenhealth Approved seal, highlighting its leadership in sustainability.
• The company's RD pulse oximetry sensors reduce waste by 84% compared to cable-based sensors.
• Masimo's sensor recycling program achieves zero waste to landfill, demonstrating strong environmental commitment.
• The sensors offer best-in-class SpO2 accuracy specifications of 1.5% ARMS.
• Masimo uses materials designed to be less wasteful, promoting sustainability without compromising performance.
• The recognition by Practice Greenhealth can enhance Masimo's brand reputation and appeal to eco-conscious investors and clients.

Negative

• The press release lacks detailed financial data, making it difficult to assess the direct economic impact of this recognition.
• No information is provided about any potential increase in production costs due to the sustainability initiatives.
• The benefits of the Greenhealth Approved seal are largely qualitative, with unclear immediate effects on stock performance.

Masimo Becomes First Pulse Oximetry Manufacturer to be Recognized with Coveted “Greenhealth Approved” Seal

IRVINE, Calif. & RESTON, Va.--(BUSINESS WIRE)-- Masimo (NASDAQ: MASI), a leading medical technology innovator, and Practice Greenhealth, a prominent organization dedicated to advancing sustainability solutions for healthcare providers, today announced that Masimo is now a recipient of the Greenhealth Approved seal. Masimo’s products – in particular its line of RD pulse oximetry sensors – are the first pulse oximetry products to receive the Greenhealth sustainability seal. The seal is only granted to products that meet specific sustainability criteria, making it a reliable indicator for health care providers seeking to identify environmentally preferable products without the time and expense needed to conduct their own independent verification.

Greenhealth Approved: Masimo RD Pulse Oximetry Sensors (Graphic: Business Wire)

Bilal Muhsin, Chief Operating Officer, Masimo, said, “Masimo is committed to both excellent patient care and environmental responsibility. The RD pulse oximetry sensor line was designed with the environment in mind, so we are pleased and proud to be the first to receive the Greenhealth Approved seal in this category.”

Masimo continually strives to make its products, packaging, and facilities more environmentally friendly and has implemented a variety of green initiatives, including designing products that promote sustainability by eliminating unnecessary material from being introduced into the product stream, expansion of its sensor recycling program, which is committed to achieving “zero waste to landfill,” and partnership with sustainability-focused organizations such as Practice Greenhealth.

From sensor design to disposal, Masimo uses materials that are less wasteful without compromising quality or performance. In addition to meeting the chemicals criteria of Health Care Without Harm, RD single-patient-use pulse oximetry sensors also:

• Reduce waste by 84% when compared to cable-based sensors¹
• Achieve zero waste to landfill through Masimo’s sensor recycling program
• Allow for “reprocessing at the bedside” with replacement tapes
• Offer best-in-class SpO₂ accuracy specifications of 1.5% A_RMS* and accurately measure on patients with varying skin pigmentation and low perfusion^2,3
• Maximize patient comfort with low-profile, lightweight components
• Use the same, standardized connector for multiple sensor technologies (e.g. SET^® and rainbow^®)

The review process for the Greenhealth Approved seal includes the submission of a complete ingredient list along with proof of certifications for the category’s criteria. “Greenhealth Approved removes obstacles that previously made purchasing sustainable products difficult,” said Paul Bogart, Executive Director of Practice Greenhealth. “Normally each health care provider conducts its own product review, often without extensive experience in chemistry and sustainability. We are helping streamline and centralize this approach, working closely with each supplier and completing a detailed product review using trusted criteria. Greenhealth Approved allows health care providers to quickly and easily identify and purchase sustainable products that decrease their impact on the environment.”

Providers interested in finding out which products carry the Greenhealth Approved seal can check the website and sign up for regular updates as products are approved for the seal. Practice Greenhealth is the leading sustainable health care organization, delivering environmental solutions to more than 1,700 hospitals and health systems in the United States and Canada.

Masimo will be exhibiting its Greenhealth-approved RD pulse oximetry sensors at CleanMed 2024, the premier health care sustainability conference, hosted by Practice Greenhealth and Health Care Without Harm, on May 21^st - 23^rd in Salt Lake City, Utah.

@Masimo | #Masimo

* ARMS accuracy is a statistical calculation of the difference between device measurements and reference measurements. Approximately two-thirds of the device measurements fell within ± A_RMS of the reference measurements in a controlled study.

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.⁴ Masimo SET^® has also been shown to help clinicians reduce severe retinopathy of prematurity in neonates,⁵ improve CCHD screening in newborns⁶ and, when used for continuous monitoring with Masimo Patient SafetyNet™ in post-surgical wards, reduce rapid response team activations, ICU transfers, and costs.^7-10 Masimo SET^® is estimated to be used on more than 200 million patients in leading hospitals and other healthcare settings around the world,¹¹ 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.¹² 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^®, Masimo W1 Sport, and Masimo Stork™. 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/.

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

References

1. Internal data on file.
2. Barker SJ, Wilson WC. J Clin Monit Comput. 2023;37:567-574.
3. Sharma, et al. J Clin Monit Comput. 2024 Jan;38:347-354.
4. 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.
5. 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.
6. 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.
7. 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.
8. Taenzer A et al. Postoperative Monitoring – The Dartmouth Experience. Anesthesia Patient Safety Foundation Newsletter. Spring-Summer 2012.
9. 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.
10. 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.
11. Estimate: Masimo data on file.
12. http://health.usnews.com/health-care/best-hospitals/articles/best-hospitals-honor-roll-and-overview.

About Practice Greenhealth

Practice Greenhealth is the leading sustainable health care organization, delivering environmental solutions to more than 1,700 hospitals and health systems in the United States and Canada. Partnership opportunities include NGOs, nonprofits, government, academic institutions, and the health care value chain.

Practice Greenhealth is the innovation hub scaling the work of Health Care Without Harm, an organization that seeks to transform health care worldwide. For more information, visit practicegreenhealth.org.

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 RD pulse oximetry sensors and the benefits for them to be Greenhealth Approved. 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 RD pulse oximetry sensors, contribute to positive clinical outcomes and patient safety; risks that Masimo fails to exhibit its Greenhealth-approved RD pulse oximetry sensors at CleanMed 2024; risks related to our belief that Masimo noninvasive medical breakthroughs provide cost-effective solutions and unique advantages; 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/20240520445594/en/

Masimo

Evan Lamb

949-396-3376

elamb@masimo.com

Practice Greenhealth

Ella Schwotzer

866-310-3320

press@practicegreenhealth.org

Source: Masimo

FAQ

What is the Greenhealth Approved seal received by Masimo (MASI)?

The Greenhealth Approved seal is a recognition by Practice Greenhealth for products meeting specific sustainability criteria. Masimo's RD pulse oximetry sensors are the first in this category to receive the seal.

How does Masimo's RD pulse oximetry sensor contribute to sustainability?

Masimo's RD pulse oximetry sensors reduce waste by 84% compared to cable-based sensors and achieve zero waste to landfill through Masimo's recycling program.

What are the accuracy specifications of Masimo's RD pulse oximetry sensors?

The RD pulse oximetry sensors offer best-in-class SpO2 accuracy specifications of 1.5% ARMS.

How does Masimo's sustainability recognition by Practice Greenhealth affect its stock (MASI)?

While the recognition enhances Masimo's brand reputation and could attract eco-conscious clients, the press release does not provide specific financial data to determine immediate effects on stock performance.

Where can healthcare providers find more information about Greenhealth Approved products?

Healthcare providers can check the Practice Greenhealth website and sign up for updates on products approved for the Greenhealth Approved seal.

When will Masimo exhibit its Greenhealth-approved RD pulse oximetry sensors?

Masimo will exhibit its Greenhealth-approved RD pulse oximetry sensors at the CleanMed 2024 conference from May 21-23 in Salt Lake City, Utah.