Economy
Philips, Masimo Sign Deal On Patient Monitoring, Select Therapy Solutions
By Dipo Olowookere
A multi-year business partnership agreement has been sealed between Philips and Masimo Corporation focused on innovations in patient monitoring and therapy solutions.
The partnership, Business Post leant, includes joint marketing and sales programs in North America and certain markets in Asia and Europe for Masimo’s non-invasive sensor technologies, such as its rainbow and SET platforms, in conjunction with Philips’ patient monitoring and select therapy solutions.
In addition, Philips will in the future integrate Masimo SedLine brain function monitoring, O3 regional oximetry, and Nomoline capnography technologies in certain Philips IntelliVue monitors.
Philips is a global leader in patient monitoring solutions with a comprehensive product portfolio ranging from multi-parameter bedside monitors to wearable patient monitors combined with mobile applications and clinical decision support tools.
With a primary focus on prediction and prevention of patient deterioration, these integrated solutions aim to support clinical workflow and caregiver efficiencies, and enhance patient care. In 2015, an estimated 275 million patients were monitored using Philips’ patient monitoring solutions.
Sensor and signal processing technologies are an essential component of patient monitoring solutions, and Masimo is a prolific innovator in this field. Examples of Masimo’s non-invasive sensor and signal processing technology innovations include Masimo SET pulse oximetry, Masimo rainbow Pulse CO-Oximetry and Masimo total hemoglobin (SpHb) monitoring technology.
“This business partnership agreement marks an important day for us and our customers as two leaders in patient monitoring collaborate to develop solutions designed to enhance clinical outcomes and patient safety,” said Frans van Houten, CEO of Royal Philips. “I am very satisfied that we have reached an agreement that is beneficial for both companies and that we have ended our legal disputes. Going forward, Philips and Masimo will completely focus on jointly delivering meaningful innovations to our customers, such as the integration of Masimo rainbow technology across our IntelliVue patient monitoring product range.”
“It’s wonderful to think that Masimo and Philips will be working together for the benefit of patients and clinicians around the world,” said Joe Kiani, Chairman and CEO of Masimo. “I am delighted that we were able to reach this important agreement which allows us to focus on the future to deliver the solutions that our customers have been looking for.”
In conjunction with the appropriate Philips patient monitoring platform, Masimo’s rainbow SET technology analyzes multiple wavelengths of light to accurately measure total hemoglobin (SpHb), oxygen content (SpOC), carboxyhemoglobin (SpCO), methemoglobin (SpMet) and Pleth Variability Index (PVI) non-invasively and continuously. Continuous monitoring of SpHb on a Philips monitor at the point of care provides clinicians with real-time visibility to changes in hemoglobin in between invasive blood samplings.
Anticipated cash flow and income consequences for Philips
As part of the business partnership agreement, Philips and Masimo have agreed to end all pending lawsuits between the two companies, which includes that Philips is released from paying the $467 million jury verdict that was awarded to Masimo in October, 2014.
Philips has agreed to make a $300 million cash payment to Masimo in the fourth quarter of 2016; and to invest in the relationship by making certain marketing and product integration commitments over the coming years. Entering into the business partnership agreement has minimal impact on income from operations (EBIT) in the fourth quarter of 2016.
Anticipated cash flow and income consequences for Masimo
As the result of anticipated legal fee savings during the fourth fiscal quarter, Masimo now expects its fiscal 2016 GAAP earnings per diluted share, exclusive of the impact of the business partnership agreement, to be $2.14, up from $2.13.
Masimo expects to use some of the after-tax proceeds from the business partnership agreement to repay amounts outstanding under its revolving line of credit. The guidance set forth above is an estimate only and actual performance could differ.
By Adedapo Adesanya
The duo of FrieslandCampina Wamco Nigeria Plc and Afriland Properties Plc lifted the NASD Over-the-Counter (OTC) Securities Exchange by 1.11 per cent on Monday, July 27.
FrieslandCampina Wamco Nigeria, the milk producer famed for Peak Milk and Three Crowns, added N13.61 to its share price to sell for N149.80 per unit compared with the previous session’s N136.19 per unit, and Afriland Properties Plc grew by N1.60 to N19.01 per share from N17.41 per share.
The two securities offset the 30 Kobo loss posted by Nitrox Industrial Gases Plc. This stock closed at N20.00 per unit compared with last Friday’s closing value of N20.30 per unit.
As a result, the market capitalisation of the trading platform went up by N28.72 billion to N2.606 trillion from N2.577 trillion, and the NASD Security Index (NSI) increased by 47.85 points to 4,342.60 points from 4,294.75 points.
The first trading session of the week witnessed a drop in activity level, as the volume of securities crashed by 79.8 per cent to 604,565 units from 2.99 million units, the value of securities declined by 71.7 per cent to N19.6 million from the preceding session’s N69.4 million, and the number of deals dipped by 40 per cent to 33 deals from 55 deals.
At the close of trades, Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with a turnover of 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units sold for N6.5 billion, and Central Securities Clearing Systems (CSCS) Plc with 75.6 million units exchanged for N5.4 billion.
GNI Plc was also the traded stock by volume on a year-to-date basis, with the sale of 3.4 billion units worth N8.4 billion, followed by Infracredit Plc with 2.3 billion units transacted for N6.5 billion, and Resourcery Plc with 1.1 billion units traded for N415.7 million.
By Adedapo Adesanya
The Naira opened the week marginally down against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) by 12 Kobo or 0.01 per cent on Monday, July 27, to trade at N1,362.21/$1, in contrast to the preceding session’s N1,362.09/$1.
This occurred amid a sharp decline in interbank FX turnover during the trading session, with deals among financial institutions also reducing strongly. The FX turnover for the day stood at $39.587 million, approximately 56 per cent lower than the $89.082 million recorded last Friday.
In the same official market, the Nigerian Naira lost 43 Kobo against the Pound Sterling yesterday to quote at N1,814.05/£1 compared with the previous session’s rate of N1,813.62/£1, and against the Euro, it slid by N1.09 to close at N1,550.19/€1 versus the preceding session’s N1,549.10/€1.
However, the local currency appreciated against the greenback by N7 at the GTBank forex desk on Monday to sell for N1,372/$1 versus N1,379/$1, and at the parallel market, it maintained stability at N1,400/$1.
The Naira has been able to remain firm despite a very strong US Dollar, largely due to market liquidity on the back of a $52 billion foreign reserves buffer, which makes it easier for banks, traders, and businesses to trade at the FX market without triggering volatility with their demands.
The Dangote Refinery also resumed selling petrol in Naira, a decision it said was driven by the need to stabilise the market, amid claims that fuel importers were withholding supplies in anticipation of higher prices. This has lifted pressure that may come due to foreign-currency buying from fuel importers.
In the cryptocurrency market, most tokens fell, as the US Senate delayed action on the closely watched CLARITY Act to focus on a Russia sanctions bill, likely pushing any vote on crypto regulatory legislation to next week before the August 8 recess.
Analysts say Bitcoin (BTC) and other coins tend to move with stocks when macro and interest-rate stress is high, and they expect volatility across asset classes around the Federal Reserve’s rate decision Wednesday and key US data on Thursday.
Cardano (ADA) dropped 6.0 per cent to finish at $0.1556, Ripple (XRP) depreciated by 4.4 per cent to $1.05, Solana (SOL) fell by 4.0 per cent to $73.27, Ethereum (ETH) slid by 3.9 per cent to $1,884.11, Dogecoin (DOGE) depleted by 3.8 per cent to $0.0699, BTC crashed by 3.0 per cent to $63,420.37, TRON (TRX) retreated by 2.3 per cent to $0.3241, and Binance Coin (BNB) slumped by 1.6 per cent to $565.57, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) sold flat at $1.00 apiece.
By Dipo Olowookere
Sell-offs in mid- and large-cap stocks crashed the local bourse by 0.05 per cent on Monday, with almost all the major sectors closing lower.
The insurance counter depreciated by 1.69 per cent, the consumer goods space lost 1.07 per cent, the energy segment shed 0.14 per cent, and the industrial goods index contracted by 0.06 per cent. But the banking sector gained 0.78 per cent, which was not enough to offset the losses printed by the others.
As a result, the All-Share Index (ASI) moderated by 118.66 points to 247,238.74 points from 247,357.40 points, and the market capitalisation receded by N77 billion to N159.511 trillion from N159.588 trillion.
Investor sentiment was weak yesterday after the Nigerian Exchange (NGX) Limited ended with 27 advancing equities and 32 declining equities, implying a negative market breadth index.
Transcorp Power collapsed by 10.00 per cent to N219.60, SUNU Assurances also fell by 10.00 per cent to N3.24, International Breweries slipped by 9.85 per cent to N12.35, Neimeth depreciated by 9.78 per cent to N8.30, and Austin Laz lost 9.64 per cent to trade at N3.28.
Conversely, Thomas Wyatt appreciated by 9.92 per cent to N3.99, Lasaco Assurance gained 9.89 per cent to quote at N2.00, CMFC surged by 9.18 per cent to N3.45, Chams jumped by 7.78 per cent to N4.85, and NGX Group flew higher by 6.96 per cent to N158.30.
The level of activity increased during the session, as market participants bought and sold 638.0 million shares for N57.2 billion in 71,240 deals versus the 565.5 million shares worth N29.9 billion transacted in 53,688 deals last Friday, indicating a rise in the trading volume, value, and number of deals by 12.82 per cent, 91.30 per cent, and 32.69 per cent, respectively.
Access Holdings led the activity chart yesterday after trading 47.6 million stocks valued at N1.4 billion, FCMB exchanged 40.3 million equities for N478.3 million, First Holdco sold 34.2 million shares valued at N4.3 billion, Champion Breweries transacted 33.2 million stocks worth N372.2 million, and Zenith Bank traded 25.4 million equities valued at N3.2 billion.
