The U.S. FDA has issued a draft guidance for devices intended to address opioid use disorder (OUD), a problem with a massive public health footprint that has defied the efforts of public health programs. The draft guidance highlights some of the difficulties in executing pivotal studies for these devices, but the FDA’s July 27 press omits any mention of a 2018 innovation challenge for this category of devices, a programmatic effort that seems to have yielded little in the way of tangible results.
With a bruising battle with its largest investor barely behind it, Masimo Corp.’s preliminary second quarter results came in nearly $100 million below consensus, putting management in an even tougher position now that it has two new investor-aligned board members. Share price plunged from $147.16 to $110 following the after-hours announcement on Monday. By the closing bell on Tuesday, shares had recovered modestly to $117.73.
Royal Philips NV and Masimo Corp. received U.S. FDA clearance that allows the activation of Sedline brain function monitoring, regional oximetry and carbon dioxide measurements in Philips Intellivue MX750 and MX850 patient monitors, which will streamline decision-making for clinicians by eliminating the need for separate pieces of monitoring equipment. The integrated equipment can help clinicians more quickly assess and monitor cerebral oxygenation, anesthetic sedation and patient respiratory performance using the same monitor.
Masimo Corp.’s Opioid Halo, an opioid overdose prevention and alert system, was granted de novo status by the U.S. FDA. The device detects opioid-induced respiratory depression, the primary cause of opioid deaths. The de novo authorizes the company to make Halo available over the counter and by prescription for use on individuals aged 15 and up.
For the second time in recent weeks, Apple Inc. has come out on the losing side of a patent dispute adjudicated by the U.S. International Trade Commission (ITC), this time at the hands of Masimo Corp. While an ITC administrative law judge (ALJ) found for Masimo in connection with one of the company’s patents, Cupertino, Calif.-based Apple was cleared of any infringement in connection with four other Masimo patents, and the ITC has yet to officially declare what sort of remedy it will impose on Apple over the dispute with Irvine, Calif.-based Masimo.
Masimo Corp.’s pulse oximetry technology avoids the dangerous under-recognition of low oxygen levels in people of color that plagues many pulse oximeters on the market, a peer-reviewed study in the Journal of Clinical Monitoring and Computing found. By integrating four additional signal processing engines to the standard algorithm, the Masimo Signal Extraction Technology (SET) system provides equally clinically accurate readings for patients of all skin tones even with movement and at low perfusion.
Four months after debuting W1 health watch at Arab Health 2022, Masimo Corp. reported a limited release of the consumer version of the device in the U.S. to 10,000 users on a first come-first served basis. The wrist-worn device, which measures oxygen saturation, pulse rate, perfusion index, pleth variability index and respiration rate, also counts steps and detects falls.
In a move that stunned and dismayed analysts and investors, Masimo Corp. announced a definitive agreement to acquire Sound United LLC Tuesday evening for $1.025 billion. Masimo’s stock (NASDAQ:MASI) plunged on the news of its intended purchase of the high-performance consumer audio products company, plummeting 39% from $228.84 at Tuesday’s close to $139.60 at Wednesday’s opening bell. Volatility led the Nasdaq to suspend trading in the stock for four minutes before 10 am. The stock recovered slightly during the day to close Wednesday at $147.00.
Masimo Corp. managed to obtain and uphold an injunction against True Wearables Inc. regarding a pending patent application, which Masimo said would have disclosed a trade secret for pulse oximeters. However, the injunction is only a preliminary injunction, and thus the road ahead may ultimately yield a disclosure of a trade secret that Masimo has dedicated considerable resources to protect.
The U.S. FDA has granted 510(k) clearance to Masimo Corp. for its PVi software tool as a continuous, noninvasive, real-time indicator of fluid responsiveness in select populations of mechanically ventilated adults. PVi, which is an acronym for pleth variability index, quantifies the dynamic changes in perfusion index that occur in a patient during the respiratory cycle.
