SEDline, a neuromonitoring spinout of Hispira, has raised $3.5 million in strategic funding from Masimo (Nasdaq: MASI).
Masimo (Nasdaq: MASI), the inventor of Pulse CO-Oximetry™ and Measure-Through Motion and Low Perfusion pulse oximetry, today announced a strategic investment totaling $3.5 million in SEDLine, Inc., a newly-formed private company that was formerly operated by Hospira, Inc. Under terms of the investment agreement, Masimo may increase its investment subject to certain financial and development milestones. SEDLine’s mission is to expand the scope and applications for neuromonitoring. Masimo’s investment will allow SEDLine to continue to support its existing customers, market to new customers, and expand its research and development efforts.
Masimo Chairman and CEO, Joe Kiani, stated, “Multiple leading hospitals in the United States have already chosen SEDLine because they believe, as Masimo does, that SEDLine’s current technology is better than competitive brain function monitoring technologies. Masimo has always been a strong advocate for innovation, patient care, and providing choice in the marketplace, so we are happy to become an investor in SEDLine’s continued commercial availability and support this new entity in their goal to enhance and expand the applications for brain function monitoring.”
Masimo (Nasdaq: MASI) 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™, a breakthrough noninvasive blood constituent monitoring platform that can measure many blood constituents that previously required invasive procedures. Masimo Rainbow SET Pulse CO-Oximetry continuously and noninvasively measures total hemoglobin (SpHb™), oxygen content (SpOC™), carboxyhemoglobin (SpCO®), methemoglobin (SpMet®), PVI®, in addition to oxyhemoglobin (SpO2), pulse rate (PR), and perfusion index (PI), allowing early detection and treatment of potentially life-threatening conditions. In 2009, Masimo introduced Rainbow SET Acoustic Monitoring, offering continuous and noninvasive respiration rate (RRa™) from an innovative acoustic sensor applied to the patient’s neck. Rainbow Acoustic Monitoring is accurate, easy-to-use, and enhances patient compliance – which may help clinicians detect respiratory compromise and patient distress earlier and offer a breakthrough in patient safety. 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.
SEDLine, Inc. is a research-focused company with the mission to expand the scope and applications for neuromonitoring. Based on over 10 years of technical and clinical development, the SEDLine core product is a pioneering four-channel brain-function monitor that measures the effects of anesthesia and sedation by simultaneously analyzing, quantifying and displaying both sides of the brain’s electrical activity. The SEDLine monitor is currently in use at some of the nation’s leading healthcare institutions. Privately held and based in Irvine, California, SEDLine has an active R&D effort underway to develop advanced brain function monitoring technologies for next generation monitors to further improve the care of patients under anesthesia or sedation.