Oridion Systems Ltd. And Masimo Corporation Sign Distribution Agreement to Sell Capnostream(TM)20 Bedside Monitors With the Masimo Patient SafetyNet(TM) System
Published: Mar 25, 2010
JERUSALEM and IRVINE, Calif., March 25 /PRNewswire-FirstCall/ -- Oridion (SIX Swiss Exchange: ORIDN), creator of Smart Capnography™, and Masimo (Nasdaq:MASI - News), the inventor of Pulse CO-Oximetry™ and Measure-Through Motion and Low Perfusion pulse oximetry, today jointly announced a distribution agreement naming Masimo as a non-exclusive distributor for the Oridion Capnostream™20 portable bedside capnography monitors throughout the U.S., Canada, and Europe. This distribution agreement further enhances last year's agreement between Masimo and Oridion which established connectivity between the Capnostream™20 bedside monitors and the Masimo Patient SafetyNet™ remote monitoring and clinician notification system. By making the Capnostream™20 available as part of Masimo's general floor monitoring solutions, Masimo Patient SafetyNet is the first remote monitoring and clinician notification system to feature Oridion's newest Smart Capnography™ innovation—the Integrated Pulmonary Index™ (IPI)—enabling real-time tracking and trending of Oridion etCO2 and respiration rate in combination with Masimo SET® SpO2 and pulse rate, for a comprehensive assessment of the patient's oxygenation and ventilatory status. Gerry Feldman, President of Oridion Capnography Inc. remarks, "We are delighted to partner with Masimo to add the distribution of our Capnostream™20 monitors in conjunction with Masimo's innovative Patient SafetyNet System. This powerful solution combines proven best-in-class performance and measurements for monitoring oxygenation and ventilation in an easy-to-use device for both hospital and outpatient environments, and offers the added safety associated with remote monitoring and automated clinician notification of adverse changes in a patient's status. Cooperation between our two industry-leading companies will result in optimal monitoring options and the industry's most advanced surveillance solutions for healthcare facilities seeking to improve patient safety and clinical outcomes." The enhanced partnership between the two gold-standard technologies now enables full distribution capabilities in addition to the connectivity and two-way wireless communication announced between Oridion Capnostream™20 and Masimo's Patient SafetyNet System in August 2009. This allows hospitals to purchase and implement these two complementary devices directly from Masimo to obtain the highest level of patient care with the industry's most advanced continuous monitoring and patient surveillance solution. Oridion Microstream® capnography combines the healthcare industry's most accurate and reliable sidestream etCO2/respiration rate measurements with Oridion Smart Capnography™, which includes SARA™ alarm management and the Integrated Pulmonary Index™ (IPI). IPI integrates Capnography and Pulse Oximetry values into a single, easy to understand index simplifying assessment of patient ventilation status. Masimo SET® provides the most accurate and reliable pulse oximetry technology, clinically proven in more than 100 independent and objective studies to provide the most trustworthy SpO2 and pulse rate measurements and alarms. Masimo SET Pulse Oximetry and Oridion Smart Capnography provide superior algorithm technologies that reduce alarms, improve clinical workflow, and provide valuable decision-support tools to patient caregivers. According to Masimo Founder and CEO, Joe E. Kiani, "We are proud to deliver upon our promise to clinicians and the industry by expanding the availability of vital sign parameters and third-party multi-parameter patient monitoring devices that offer real-time wireless connectivity to Masimo Patient SafteyNet. This distribution agreement allows us to package two proven, best-in-class solutions, Oridion Capnostream™20 monitors with Masimo SET and Masimo Patient SafetyNet, for hospitals and healthcare facilities in the U.S., Canada, and Europe—offering the flexibility and device options that today's healthcare providers need to unite their patient monitoring solutions." About Oridion Oridion Systems Ltd. (www.oridion.com) is a global medical device company specializing in patient safety monitoring. The Company operates through wholly owned subsidiaries in Israel and the United States. Oridion develops proprietary medical devices and patient interfaces, based on its patented Microstream® and Smart Capnography™ technologies, for the enhancement of patient safety and clinical outcomes. These products provide effective, proven airway management and are used in diverse clinical environments, including procedural sedation, pain management, critical care, post-anesthesia care, emergency medical services, transport, alternate care and other settings where patients' respiratory systems may be compromised and at risk. The Oridion commitment to excellence is modeled on making the extraordinary, ordinary and making respiratory monitoring 'Smart' for the patient and the healthcare professional. Additional information about Oridion and its products may be found at www.oridion.com. About Masimo Masimo (NASDAQ:MASI - News) develops innovative 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 Masimo Rainbow SET® Pulse CO-Oximetry™, 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 PVI®, in addition to SpO2, pulse rate, and perfusion index (PI). In 2009, Masimo introduced Masimo Rainbow SET® Acoustic Monitoring™, the first-ever noninvasive and continuous monitoring of acoustic respiration rate (RRa™). Masimo's Rainbow platform offers a breakthrough in patient safety by helping clinicians detect life-threatening conditions and helping guide treatment options. Founded in 1989, Masimo has the mission of "Improving Patient Outcomes 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. Forward Looking Statements 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 timing and availability of connectivity and a two-way interface between Oridion Capnostream and Masimo Patient SafetyNet, risks related to our belief that Patient SafetyNet will provide an effective early warning system to enable timely rescue, risks related to our belief that Masimo SET will provide sufficient sensitivity and specificity to detect physiological abnormalities and potentially life-threatening conditions in real-time for all patients, as well as other factors discussed in the "Risk Factors" section of the Masimo Annual Quarterly Report on Form 10-Q for the fiscal quarter year ended July 4, 2009, filed with the Securities and Exchange Commission ("SEC") on August 6, 2009, 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. Neither Masimo nor Oridion do undertake any obligation to update, amend or clarify these forward-looking statements or the "Risk Factors" contained in the Masimo Quarterly Report on Form 10-Q for the fiscal quarter ended July 4, 2009, whether as a result of new information, future events or otherwise, except as may be required under the applicable securities laws.