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Masimo Enters Noninvasive Multigas Monitoring, including Capnography, with Acquisition of PHASEIN
Irvine, California – Masimo (NASDAQ: MASI), the inventor of rainbow® Pulse CO-Oximetry™, and SET® Measure-Through Motion and Low Perfusion pulse oximetry, today announced it has acquired PHASEIN AB (Stockholm, Sweden), a developer and manufacturer of ultra-compact mainstream and sidestream capnography,multigas analyzers, and handheld capnometry solutions.
The acquisition of PHASEIN's multigas technologies complements Masimo's breakthrough innovations for patient monitoring with a portfolio of products ranging from OEM solutions for external "plug-in-and-measure" gas analyzers and integrated modules to handheld devices. With multiple measurements delivered through either mainstream or sidestream options, Masimo customers can now benefit from CO2, N2O, O2, and anesthetic agent monitoring in many hospital environments, such as operating rooms, procedural sedations and intensive care units.
Joe Kiani, Masimo CEO and Chairman of the Board, stated, "We are confident that the best technology always wins if clinicians are given the choice. PHASEIN has developed leading-edge infrared multispectral technologies for measuring respiratory gases. In our assessment, PHASEIN has the most accurate gas measurements, the widest array of measurements, and the technology most suited for easy and flexible integration in both Masimo and OEM products. PHASEIN's impressive list of OEM customers and innovative technology portfolio for monitoring CO2, N2O, O2, and anesthetic agents is a perfect addition to Masimo's mission to take noninvasive patient monitoring to new sites and applications. We see multigas measurements as a half-billion dollar global market opportunity and are proud to welcome the PHASEIN team to the Masimo team."
PHASEIN CEO Robert Zyzanski will remain the CEO of the company. "Masimo's pursuit of innovation for the betterment of patient care is bar none. The opportunity to become part of Masimo is yet another validation of our advanced capnography and gas monitoring technologies," Zyzanski said. "We look forward to continuing to develop industry-leading solutions with our new colleagues, as we strive to leverage the synergies of our complementary technologies to improve patient outcomes and reduce the cost of care worldwide."
Masimo paid approximately $30.4 million in cash to purchase PHASEIN. No other terms were disclosed. The estimated impact of the acquisition on Masimo's 2012 financial results will be included in the company's second quarter earnings announcement, set for release after the market close today.
Masimo (NASDAQ: MASI) is the global leader in innovative noninvasive monitoring technologies that significantly improve patient care—helping solve "unsolvable" problems. In 1995, the company debuted Measure-Through Motion and Low Perfusion pulse oximetry, known as Masimo SET®, which virtually eliminated false alarms and increased pulse oximetry's ability to detect life threatening events. More than 100 independent and objective studies demonstrate Masimo SET provides the most reliable SpO2 and pulse rate measurements even under the most challenging clinical conditions, including patient motion and low peripheral perfusion. In 2005, Masimo introduced rainbow SET® Pulse CO-Oximetry™ technology, allowing noninvasive and continuous monitoring of blood constituents that previously required invasive procedures, including total hemoglobin (SpHb®), oxygen content (SpOC™), carboxyhemoglobin (SpCO®), methemoglobin (SpMet®), and Pleth Variability Index (PVI®), in addition to SpO2, pulse rate, and perfusion index (PI). In 2008, Masimo introduced Patient SafetyNet™, a remote monitoring and wireless clinician notification system designed to help hospitals avoid preventable deaths and injuries associated with failure to rescue events. In 2009, Masimo introduced rainbow Acoustic Monitoring™, the first-ever noninvasive and continuous monitoring of acoustic respiration rate (RRa™). Masimo's rainbow SET technology platform offers a breakthrough in patient safety by helping clinicians detect life-threatening conditions and helping guide treatment options. In 2010, Masimo acquired SEDLine®, a pioneer in the development of innovative brain function monitoring technology and devices. Masimo SET and Masimo rainbow SET technologies can also be found in over 100 multiparameter patient monitors from over 50 medical device manufacturers around the world. Founded in 1989, Masimo 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.
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