Masimo (MASI) Ties Up to Educate on Prescription Opioid Overuse
Masimo (MASI) partners with Penington Institute to increase awareness on overdose from prescription opioids.
Masimo Corporation MASI recently announced that it has collaborated with Penington Institute, which highlights the company’s commitment toward increasing awareness regarding the risks associated with overdose from prescription opioids in spite of the directed usage. Apart from being extremely addictive, opioids have serious side effects that include slowed or stopped breathing, which can result in cardiac arrest, brain damage or death.
It is worth mentioning that opioid painkillers are prescribed for pain relief for patients during and post surgery alongside those suffering from chronic pain.
Since opioids can cause harm even when consumed as prescribed, it is important that patients have clarity on their side effects and access to necessary information when it comes to protecting themselves, including the role of oxygen saturation monitoring.
This collaboration is likely to provide a boost to Masimo’s patient monitoring solutions.
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Per management at the Penington Institute — a leader in public health and safety — the true scale of the opioid overdose problem is not fully reported or understood.
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The assumption of an overdose being connected to only the usage of illicit drugs or taking more opioids than directed for use is widespread. With this partnership, Masimo anticipates utilizing education and innovation to eliminate preventable opioid deaths.
Per a report by Grand View Research, the global opioids market was worth $25.4 billion in 2018 and is estimated to expand at a CAGR of 1.8% during the forecast period (2019-2026). Hence, this collaboration is a well-timed one for Masimo.
In August, the company received the CE mark for its SafetyNet Alert and introduced the same in western Europe. Masimo SafetyNet Alert is an arterial blood oxygen saturation monitoring and alert system developed for utilization in a home setting. The system features Signal Extraction Technology (SET) wearable fingertip pulse oximetry sensor that offers wireless communication to an accompanying Home Medical Hub and smartphone app.
Again, in August, Masimo announced the findings of a study, published in the Turkish Journal of Emergency Medicine, wherein researchers explored the utility of noninvasive, continuous Masimo Pleth Variability Index (PVi) when it comes to monitoring volume status and changes in spontaneously breathing patients who are undergoing hemodialysis (HD). Per the findings, a strong correlation has been found between change in PVi and the volume of fluid removed.
In the same month, the company announced the findings of a study, published in the Journal of Pain & Relief, wherein researchers explored the utility of Masimo Bridge in reducing postoperative opioid needs in patients undergoing kidney donor surgery. Based on the positive outcomes, researchers concluded that Bridge may represent a complementary approach to lower postoperative opioid requirement.
Shares of the company have gained 29.6% in the past year compared with the industry’s growth of 18.9%.
Zacks Rank & Key Picks
Currently, Masimo carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are Henry Schein, Inc. HSIC, Envista Holdings Corporation NVST and Merit Medical Systems, Inc. MMSI. While both Henry Schein and Envista Holdings carry a Zacks Rank #2 (Buy), Merit Medical sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Henry Schein’s long-term earnings growth rate is estimated at 13.9%.
Envista Holdings’ long-term earnings growth rate is estimated at 27.4%.
Merit Medical’s long-term earnings growth rate is projected at 13.6%.
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