Selling Masimo SET & Patient SafetyNet Devices | In Practise

Selling Masimo SET & Patient SafetyNet Devices

Former Sales Account Manager at Masimo and Current Territory Manager at Stryker

Learning outcomes

  • The core intellectual property of Masimo SET technology
  • How Nellcor competes with Masimo SET
  • Core differences in European and US hospital culture, design, and structure
  • How Masimo prices boards, and single vs reusable sensors
  • Masimo’s SafetyNet opportunity and why SET is the key to continuous monitoring success
  • How Apple or other wearable companies could compete with Masimo continuous monitoring

Executive profile

Andrea Martelli

Former Sales Account Manager at Masimo and Current Territory Manager at Stryker

Andrea is a trained biomedical physician and has over 15 years experience selling medical devices in Europe at both Masimo and Stryker. He is the Former Senior Sales Account Manager at Masimo, where he was responsible for managing all private and public healthcare facilities and hospitals in Italy. Andrea has experience in both capital and clinical sales selling both invasive and non-invasive medical devices. He is currently the Territory Manager for Italy for Surgical Orthopedic Instruments dealing with power tools for bone procedures for resurfacing and modelling bone in orthopedic and trauma procedures.Read more

Andrea, can you just briefly share an introduction to your background, please?

I’m Andrea Martelli and I’m 49 years old. I have a degree in physics, with a PhD in biomedical physics and I have been involved in the medical device market for 15 years. The first 10 years were dealing with medical devices for anesthesiology and resuscitation both for non-invasive monitoring as well as invasive products, such as catheters, needles and products like that. For the last five years, from 2016, I have been working for Stryker Instruments, dealing with power tools for bone procedures, for drilling, resurfacing and modelling bone in orthopedic and trauma procedures.

I have always managed a direct and indirect salesforce, such as agents, distributors and sales reps. In my personal experience, over all these years, I have undertaken both marketing and pure sales activities.

Can you explain how the core Masimo SET technology works?

At the core of the Masimo technologies is the algorithm that they use and have implemented in their products, that is able to avoid noise in the analysis of the pulse oximetry. At the site of a measurement, usually the finger or the toe, we have an image of the central pulsation of the heart and this can be measured by using light. It is a specific bandwidth of the light in the infrared range, using the so-called lambda law. With this mathematical algorithm applied to a medical solution, we can recalculate and extract the oxygen concentration in blood as it is circulating in the veins, as well as the pulse rate.

The main problem with standard technology in pulse oximetry is the noise. Sometimes the patient moves; sometimes the patient may have a low temperature or lower overall total volume of fluids, so the signal is corrupted. At the very beginning, in the 1980s, thanks to the collaboration of the CEO at the time, Joe Kiani, and one of his colleagues from university, they developed an algorithm called SET, Signal Extraction Technology, that was able to avoid any noise.

Masimo SET is a unique solution and a very reliable way to determine the correct SpO2 concentration and pulse rate in a patient, even in challenging scenarios.

How could a bigger player, like Medtronic, potentially really compete with the SET technology that Masimo has?

Big players, like Medtronic or others, in my opinion, quite frankly, can’t compete with Masimo SET. It is a specific algorithm, so precise and well-developed, I honestly think that bigger players are not able to go as deep as Masimo has already been going for 40 years. This mathematical solution, applied to biological science was born 40 years ago. I saw different attempts from Medtronic and other players in the pulse oximetry and SpO2 markets to reach the Masimo solution and precision, consigning value to a monitoring parameter. In my opinion, they were not able to reach the same level. Masimo has absolutely not stopped R&D work so when the competitors try to get close, Masimo is always another step ahead.

What exactly is it about the technology that is so hard to compete with? I believe the sensors are now off-patent, so is it really just the algorithm that is the really important part?

The algorithm is the core and is unique. That kind of mathematical solution has four components. Each one of these parts are dedicated towards fixing one problem. The movement problem, the low volume problem, the temperature problem and the fourth one is a black box. They have never disclosed information about the fourth part, which is probably the real core. These four mathematical processes work together. Even if I have an emitting diode and a receiving diode, I can put them on my finger and I can have the raw signal, without any processing. The processing is the core.

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Selling Masimo SET & Patient SafetyNet Devices

January 28, 2021

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