Masimo Corporation - MASI STOCK NEWS

Masimo (NASDAQ: MASI) announced that Saint-Denis Hospital Center in France is adopting the Masimo SafetyNet® cloud-based telemonitoring platform for their experimental mobile neonatology unit. This innovative project, launched in February, aims to facilitate earlier discharge of premature newborns from the ICU to home while maintaining close hospital supervision.

The system uses Masimo's Radius PPG® sensor with SET® technology, worn on the baby's foot, to send health data to a smartphone app for parents and hospital caregivers. This allows for continuous monitoring and quick response to changes in the baby's condition. The project could potentially allow premature babies to return home before the typical 36 weeks of corrected age, benefiting both families and hospital resources.

Masimo (NASDAQ: MASI) is urging stockholders to vote 'FOR' its director nominees, Joe Kiani and Christopher Chavez, at the upcoming Annual Meeting on September 19, 2024. The company has shared details from unredacted legal filings about Quentin Koffey's alleged multi-year plan to take control of Masimo. Key points include:

1. Politan raised nearly $440 million specifically targeting Masimo stock acquisition.
2. Politan allegedly failed to disclose its investors in its 13D filing.
3. Quentin Koffey, as a Masimo director, reportedly hired firms to find former employees willing to provide damaging information about the company.
4. Koffey allegedly threatened other directors and refused to sign required SEC filings.
5. Masimo claims Koffey sabotaged efforts to separate the consumer business.

Masimo argues that Koffey's actions demonstrate he is not acting in the best interests of all stockholders and warns against giving him control of the company.

Masimo (NASDAQ: MASI) has announced its participation in the Wells Fargo Healthcare Conference on September 5, 2024. The company's management will present at 10:15 a.m. Eastern Time. Investors and interested parties can access a live webcast of the presentation through Masimo's official website. For those unable to attend the live event, a replay of the webcast will be made available after the presentation concludes.

This conference provides Masimo with an opportunity to showcase its latest developments and strategies to investors and industry professionals. The company's participation in such events often signals its commitment to transparency and shareholder engagement.

Masimo (NASDAQ: MASI) and March of Dimes are partnering to support parents with babies in the Neonatal Intensive Care Unit (NICU). Masimo will donate $100,000 worth of Stork™ Smart Home Baby Monitoring Systems to families in need through March of Dimes' NICU Family Support program. The partnership aims to assist over 50,000 families nationwide as they transition from hospital to home.

Stork, an FDA-cleared monitoring system, uses Masimo SET® sensor technology to track a baby's oxygen saturation, pulse rate, and skin temperature. The collaboration will include NICU Awareness Month programs, donation matching events, and educational video releases. This initiative addresses the needs of the 9-13% of babies requiring NICU stays due to complex medical needs.

Masimo (NASDAQ: MASI) urges stockholders to vote 'FOR' its director nominees, Joe Kiani and Christopher Chavez, at the upcoming Annual Meeting on September 19, 2024. The company highlights the risks of Politan Capital Management gaining control of the Board, potentially leading to a mass exodus of critical leadership and talent. Masimo emphasizes its strong Q2 2024 performance, including:

- 22% growth in healthcare revenue year-over-year
- Record-breaking new hospital contracts
- Progress towards a 30% operating margin
- Raised full-year EPS guidance

Masimo is also evaluating a potential separation of its consumer business to maximize stockholder value. The company warns that Politan's proxy campaign could derail ongoing progress and value creation.

Masimo's Signal Extraction Technology® (SET®) pulse oximetry continues to lead the industry with superior accuracy and reliability. As of 2024, SET® is the primary pulse oximetry technology at all ten top U.S. hospitals and monitors over 200 million patients annually worldwide. With more than 100 clinical studies demonstrating its performance, SET® offers industry-best SpO2 accuracy in challenging conditions across all patient populations and skin tones.

Masimo SET® has shown significant improvements in patient outcomes, including zero preventable deaths from opioid-induced respiratory depression in a 10-year study, 80% reduction in retinopathy of prematurity, and improved screening for critical congenital heart disease. It also reduces false alarms by 86% and has led to 60% fewer rapid response team activations. Additionally, SET® contributes to environmental sustainability and cost savings for hospitals.

Masimo (NASDAQ: MASI) has filed revised definitive proxy materials for its upcoming Annual Meeting of Stockholders on September 19, 2024. The company urges stockholders to vote 'FOR' its director nominees, Joe Kiani and Christopher Chavez, on the updated GOLD proxy card. Masimo reported strong second quarter results, including:

- Healthcare segment revenue growth of 23% year-over-year
- Record-breaking new hospital conversion contracts worth $134 million
- Improved healthcare gross margin by 240 basis points year-over-year
- Generated $75 million in operating cash flow
- Retired $93 million of outstanding debt

The company raised its full-year guidance for healthcare revenue growth to 9-10% and reaffirmed its commitment to separating its consumer business. Masimo aims to double earnings per share to $8 in five years and eliminate debt within 3-4 years.

Masimo (NASDAQ: MASI) announced FDA 510(k) clearance for the Masimo W1® medical watch's connectivity to the Masimo SafetyNet® telemonitoring system. This integration allows continuous, accurate wrist-based measurements to be relayed to caregivers via the Masimo Secure Health Data Cloud. The Masimo W1 Medical, which received FDA clearance last year for continuous SpO2 and pulse rate monitoring, can now transmit data to the SafetyNet smartphone app and web-based clinician portal.

The Masimo W1 features the MW-1 sensor module, incorporating Signal Extraction Technology® pulse oximetry and rainbow® Pulse CO-Oximetry. It offers real-time display of SpO2, pulse rate, perfusion index, and ECG-derived heart rate. With Bluetooth connectivity, patients can input symptoms, view data trends, and conduct virtual visits through the SafetyNet app. Clinicians can access patient data, receive customized notifications, and integrate information into EMRs.

Masimo (NASDAQ: MASI) reported its financial results for Q2 2024, ending June 29, 2024. Consolidated revenue reached $496.3 million, comprising healthcare revenue of $343.9 million and non-healthcare revenue of $152.4 million.

Consolidated GAAP net income was $16.0 million, or $0.29 per diluted share, while non-GAAP net income was $46.6 million, or $0.86 per diluted share.

Based on this performance, Masimo is raising its full-year 2024 guidance: consolidated revenue forecasted between $2,085 to $2,135 million and consolidated EPS between $3.80 to $4.00.