Nov. 18, 2012
/PRNewswire/ -- Joe Kiani, founder, CEO and Chairman of the Board of Massimo Corporation, has been named the
Ernst & Young National Entrepreneur Of The Year ® 2012 Life Sciences Award Winner
. The Ernst & Young Entrepreneur Of The Year Award is the country's most prestigious business award for entrepreneurs. The award encourages entrepreneurial activity and recognizes leaders and visionaries who demonstrate innovation, financial success and personal commitment as they create and build world-class businesses.
Kiani was recognized for revolutionizing the health care industry by taking risks to create and commercialize non-invasive patient monitoring devices, which include a wide array of sensors that lead to improved accuracy, a reduction in the overall number of false readings, and ultimately, reduced cost of care. Kiani was honored at the Entrepreneur Of The Year Awards gala, the culminating event of the Ernst & Young Strategic Growth Forum
Palm Springs, Calif.
The Forum is the nation's premier gathering of high-growth, market-leading companies. Awards were given in nine additional categories. The Ernst & Young Entrepreneur Of The Year Award winners were selected by an independent panel of judges from 244 regional award recipients.
"We are pleased to honor
with this esteemed award and recognize him for his perseverance, passion, and innovative mind – all of which continue to make a positive impact on health care and patient monitoring technologies," said
, Americas Director, Entrepreneur Of The Year, Ernst & Young LLP. "Joe's innovative approach, discipline and triumph over the years truly demonstrate the meaning of the entrepreneurial spirit we've come to celebrate over the last 26 years."
The early rise and collapse
By training, Kiani is an electrical engineer, graduating from highschool at the mere age of 15. Kiani's entrepreneurial spirit sprouted early on at his first job, a smaller company with pulse oximeter technology, where he worked in exchange for stock – not cash. Kiani's aptitude and contributions led to his swift rise to the top as president of the company at an early age. But as hasty as the rise, Kiani quickly learned an important aspect of ethics and integrity. In an effort to ensure the company would not be sold under false pretenses, Kiani was blamed for the collapse of the company's pending merger. It was this decision and outcome that ultimately led to Masimo Corporation