WASHINGTON--(BUSINESS WIRE)--Masimo (NASDAQ: MASI) Founder and CEO Joe Kiani was honored last night at the 2018 IPO Education Foundation Awards Dinner with the first ever IP Champion Award. The Intellectual Property Owners Education Foundation, a non-profit organization devoted to educating the public on the importance of IP to society, has been awarding an Inventor of the Year for 45 years and Distinguished IP Professional for 10 years. 2018 marks the creation of a new award, IP Champion, bestowed upon Mr. Kiani for showing “extraordinary leadership in advocating for the value of intellectual property to the progress of innovation.”
Retired Chief Judge Paul Michel, formerly U.S. Circuit Judge of the U.S. Court of Appeals for the Federal Circuit and Chief Judge of that court, commented, “Serial inventor Joe Kiani built a major patient health improving company, starting from scratch at age 23, obtaining VC funding based on his patent applications when patents were strong. Later Congressional and Supreme Court interventions so sapped patent strength that he could not repeat his feat today. Reviving patents is essential to America's future since most major inventions, new jobs, and personal welfare gains and economic growth result from start-ups and small and mid-sized technology companies like Masimo. It actually saves many lives each day with its patient monitoring devices. Isn't that what we need as much today as before?”
In his acceptance speech, Mr. Kiani noted, “Without a strong IP system, Masimo would not have been able to get funding, would not have been able to stop the monopolists in our market that tried to steal it, and would not have been able to solve unsolvable problems like the development of noninvasive hemoglobin measurement. The system worked – and I want to thank the patent office and our judicial system, including the many incredible judges and juries who are able to tell truth from falsehood.”
Mr. Kiani continued, “Throughout all of Masimo’s growth, we haven’t changed our philosophy nor our actions when it comes to intellectual property. We believe property rights are essential to a growing economy, and when it comes to a growing innovation economy, intellectual property rights are even more necessary. That’s why we use our success story to remind Congress, the FTC, and anyone who will listen that when it comes to IP protection, one must take the long view. . . . If we make patents and trade secrets strong, future Masimos will also be able to raise funds to solve unsolvable problems, ones hopefully even more important for our survival and economic prosperity.”
The awards dinner was held on December 11th at the National Building Museum in Washington, DC. Mr. Kiani was accompanied by his wife Sarah and guests Retired Senator Tom Harkin and his wife Ruth. David Hall, Founder and CEO of Velodyne LiDAR, was named Inventor of the Year.
@MasimoInnovates | #Masimo
Masimo (NASDAQ: MASI) is a global leader in innovative noninvasive monitoring technologies. Our mission is to improve patient outcomes and reduce the cost of care. In 1995, the company debuted Masimo SET® Measure-through Motion and Low Perfusion™ pulse oximetry, which has been shown in multiple studies to significantly reduce false alarms and accurately monitor for true alarms. Masimo SET® has also been shown to help clinicians reduce severe retinopathy of prematurity in neonates,1 improve CCHD screening in newborns,2 and, when used for continuous monitoring with Masimo Patient SafetyNet™ in post-surgical wards, reduce rapid response activations and costs.3-5 Masimo SET® is estimated to be used on more than 100 million patients in leading hospitals and other healthcare settings around the world,6 and is the primary pulse oximetry at 9 of the top 10 hospitals listed in the 2018-19 U.S. News and World Report Best Hospitals Honor Roll.7 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®), and more recently, Oxygen Reserve Index (ORi™), in addition to SpO2, pulse rate, and perfusion index (Pi). In 2014, Masimo introduced Root®, an intuitive patient monitoring and connectivity platform with the Masimo Open Connect® (MOC-9®) interface, enabling other companies to augment Root with new features and measurement capabilities. Masimo is also taking an active leadership role in mHealth with products such as the Radius-7® wearable patient monitor, iSpO2® pulse oximeter for smartphones, and the MightySat™ fingertip pulse oximeter. Additional information about Masimo and its products may be found at www.masimo.com. Published clinical studies on Masimo products can be found at http://www.masimo.com/evidence/featured-studies/feature/.
ORi 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.
- Taenzer AH 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.
- Taenzer A et al. Postoperative Monitoring – The Dartmouth Experience. Anesthesia Patient Safety Foundation Newsletter. Spring-Summer 2012.
- McGrath SP 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.
- 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.
- 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.
- Estimate: Masimo data on file.
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 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 contribute to positive clinical outcomes and patient safety; risks related to our belief that Masimo noninvasive medical breakthroughs provide cost-effective solutions and unique advantages; 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.