This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Creator Of Non-Invasive Patient Monitoring Devices: Masimo Corporation Founder And CEO Joe Kiani Named Ernst & Young National Entrepreneur Of The Year® 2012 Life Sciences Award Winner

Passion & discipline: never settle for less

With Kiani's developed passion for adaptive signal monitoring, he took the money he had saved and a $40,000 bank loan and began to developing non-invasive patient monitoring technology from his garage. Within three short years of maintaining a strong financial discipline, Kiani had raised substantial capital and was well on his way to creating medical technology that has transformed the health care industry today – technology that would not exist today if it was not for Masimo Corporation.

Despite hospital administrators and clinicians embracing Masimo's superior technology, Kiani still faced barriers. Larger, more established companies and group purchasing organizations (GPOs) were reluctant to let Masimo Corporation succeed in the market. Kiani stuck by his belief of always doing what is right for patient care and emerged victorious after a seven-year patent infringement legal battle – a battle that threatened to bankrupt Masimo.

Giving back and thriving

As Masimo emerged as a success story in the medical industry, many advised Kiani to buy out his existing shareholders. But instead, he distributed much of his profit in a special dividend and offered a substantial appreciation bonus to employees. Soon after, Kiani knew Masimo could achieve bigger and better things, and in order to do so, he took the company public. In its first five years as a public company, Masimo Corporation revenues increased by more than 70 percent, and net income increased by more than 175 percent. Throughout it all, Kiani never stopped taking risks to grow what is now a multi-million dollar public company with more than 2,500 employees.

National Entrepreneur Of The Year 2012 Life Sciences finalists

In addition to Kiani, the Ernst & Young Entrepreneur Of The Year Life Sciences national finalists were: Dr. Rajesh Shrotriya, Chairman of the Board, CEO and President, Spectrum Pharmaceuticals, Inc., based in Henderson, Nev., an oncology-focused biotechnology company with fully integrated commercial and drug development operations; Cynthia LaConte, CEO, Dohmen, based in Milwaukee, Wis., a leading family of companies that create efficiencies within the health care supply system; Michael and Staci Gauthier, President and Vice President, Gauthier Biomedical, Inc., based in Grafton, Wis., a proud manufacturer of high-quality instruments for spine, trauma, hip, shoulder, knee, ankle and small bone surgical applications.  

National Entrepreneur Of The Year ® 2012 Overall Award winner

Hamdi Ulukaya, Founder of Chobani, was named the Ernst & Young National Entrepreneur Of The Year ® 2012 Overall Award winner.

Video and photos

To view video clips of all of the Entrepreneur Of The Year winners, please visit ey.com/us/eoy. Photos of the winners are also available by request.

Sponsors

Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards are nationally sponsored in the United States by SAP America and the Ewing Marion Kauffman Foundation.

About Ernst & Young's Entrepreneur Of The Year

Ernst & Young's Entrepreneur Of The Year is the world's most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 140 cities in 50 countries.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,678.87 -51.24 -0.29%
S&P 500 2,072.64 -4.14 -0.20%
NASDAQ 4,997.5520 -11.6620 -0.23%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs