Masimo Corp (NASDAQ: MASI) is a medical technology company that develops and manufactures noninvasive patient monitoring systems, sensors, and connectivity platforms for clinical settings. Revenue comes from selling proprietary monitoring hardware, single-patient-use sensors, and connectivity software to hospitals and healthcare facilities. Core products include Masimo SET pulse oximetry, rainbow Pulse CO-Oximetry, the Root patient monitoring and connectivity platform, and the Patient SafetyNet Series 5000. The company also licenses its signal-processing technology to more than 90 OEM partners, who integrate Masimo circuit boards into their own multi-parameter monitors. End markets span high-acuity ICUs, surgical suites, operating rooms, general care floors, recovery units, and long-term care facilities. The OEM channel extends Masimo technology into over 200 third-party monitors. Switching costs are embedded in the sensor-to-monitor architecture, where proprietary single-use sensors are consumed continuously at each installed monitor. Founded in 1989 and headquartered in Irvine, California, Masimo files under a December fiscal year-end.

Revenue model

Hardware sales of bedside monitors and handheld devices, recurring revenue from single-patient-use sensors tied to installed monitors, OEM licensing of circuit boards and signal-processing modules to third-party monitor manufacturers, and software and connectivity platform sales including Root, UniView, and Patient SafetyNet Series 5000.

Products and services

Masimo SET pulse oximetry monitors and sensors; rainbow Pulse CO-Oximetry platform measuring SpO2, SpCO, SpMet, SpHb, SpfO2, PVi, RPVi, RRp, and SpOC; Root patient monitoring and connectivity hub; Patient SafetyNet Series 5000; Rad-97 bedside monitor; Rad-G handheld spot-check pulse oximeter; Iris Gateway; Kite; iSirona; UniView and UniView 60; MyView; Hospital Automation Connectivity; MX-7 and MSX-2040 OEM circuit boards; uSpO2 board-in-cable solution; rainbow Acoustic Monitoring (RRa).

Customers and end markets

Hospitals including ICUs, surgical suites, operating rooms, general care floors, recovery units, and long-term care facilities. OEM partners (more than 90 as disclosed in the 10-K filed 2026-02-27) integrate Masimo technology into their own multi-parameter monitors.

Value-chain role

Medical device original equipment manufacturer and technology licensor. Masimo develops proprietary signal-extraction algorithms, manufactures finished monitoring devices and sensors for direct hospital sale, and supplies OEM circuit boards and modules to third-party monitor makers. Also operates as a connectivity middleware provider linking bedside devices to EMR systems.

Source: SEC 10-K, filed 2026-02-27

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