Irvine, Calif.-based Masimo generated $19.4 million in profits in the quarter ending July 4, up 40.2% from the same period last year. The second-quarter growth was attributed to the firm's sales growth. Chairman and CEO Joe Kiani said the results show the continuing demand for the firm's Rainbow SET Pulse CO-Oximetry and Set pulse oximetry devices.
Joseph Slattery, who most recently served as chief financial officer at Baxano, has been named CFO of SafeStitch Medical. Baxano has tapped Tim Shannon, a former finance executive at Talecris Biotherapeutics, to replace Slattery as its CFO on an interim basis.
Joe Kiani, Masimo founder, board chairman and CEO, shares his perspective on the "frustration many patients experience in trying to obtain their own health information, even from devices that are implanted inside their own bodies." Read the editorial.