Masimo’s Joe Kiani to Keynote ABL’s 17th Innovations in Healthcare(TM) ABBY Awards, Oct. 26 in Long Beach

Masimo’s Joe Kiani to Keynote ABL’s 17th Innovations in Healthcare(TM) ABBY Awards, Oct. 26 in Long BeachMasimo’s Joe Kiani to Keynote ABL’s 17th Innovations in Healthcare(TM) ABBY Awards, Oct. 26 in Long Beach

Masimo’s Joe Kiani to Keynote ABL’s 17th Innovations in Healthcare(TM) ABBY Awards, Oct. 26 in Long Beach

Kiani, Founder of Masimo and the Patient Safety Movement Foundation, will also receive ABL’s “Leadership in Innovation” Award

October 23, 2016 - Joe Kiani, Chairman and CEO of Masimo Corporation, will keynote ABL’s 17th Innovations in Healthcare(TM) ABBY Awards Event, on October 26, 2016, in Long Beach, California, where he will also receive the Organization’s 10th “Leadership in Innovation” Award in recognition of his founding the Patient Safety Movement Foundation. The Event, presented by the Adaptive Business Leaders (ABL) Organization, is widely recognized for assembling and presenting organizations from across the country whose innovative approaches and medical and digital health technologies are making dramatic inroads in the quest to improve health outcomes - while reducing its cost.

Joe Kiani has grown Masimo from a “garage start up” in 1989 - when he co-invented the “measure-through-motion and low perfusion” pulse oximetry technology that virtually eliminated false alarms (from 70-95% to 5%) and increased pulse oximetry’s ability to detect life-threatening events - to a publicly-traded, medical device superstar, employing over 3,000 employees worldwide, with more than 575 issued and pending patents, monitoring over 100 million patients a year.

Along the way, Kiani became an industry hero as the “David” who overcame almost insurmountable obstacles and industry “Goliaths.” He first took on powerful healthcare Group Purchasing Organizations (GPOs). In 2002, Kiani was interviewed for a New York Times article, titled "Medicine's Middleman," that focused on the practices of GPOs and dominant medical suppliers. The article was followed by a series of 18 additional Times stories on GPOs over the next two years. Subsequently, Kiani testified twice before the U.S. Senate Judiciary Subcommittee on Antitrust, Competition Policy, and Consumer Rights, which held four hearings regarding these practices. His efforts led media to call Masimo "the poster child for small medical device manufacturers" and observe that Kiani "almost single-handedly galvanized the rancorous debate over the GPO industry's purported role in locking out innovative technologies from the marketplace."

Subsequently, Masimo won two lawsuits against Tyco (now known as Covidien), first for violating antitrust laws specifically related to the sale of its Nellcor pulse oximetry products, and later, in 2006, settled a lawsuit against Nellcor for over $300 million in damages for infringing on its pulse oximetry patents. Kiani and the Medical Device Manufacturers Association called the victory "a critical step in addressing the anticompetitive and other questionable practices by certain dominant manufacturers.”

Beyond Masimo, in 2012 Kiani founded the nonprofit Patient Safety Movement Foundation, with a mission to eliminate the more than 200,000-400,000 preventable patient deaths that occur in U.S. hospitals annually. Under his leadership, the organization held it first Patient Safety, Science & Technology Summit in January 2013, keynoted by President Bill Clinton, where Kiani announced the organization’s ambitious goal: ZERO preventable hospital deaths by 2020 (0X2020). Kiani also asked participating hospital executives to make a formal and public patient safety commitment and to report on it annually. Already, 0X2020 commitments from organizations representing 1,631 hospitals have collectively saved 24,643 lives.

Mimi Grant, President of ABL, and creator of the Innovations Awards Event 17 years ago, commented: “Joe Kiani is the quintessential exemplar of ‘Leadership in Innovation,’ and a true American success story. He immigrated to the United States from Iran at age 9, and by 22, he had already earned his Bachelors and Masters degrees, in Electrical Engineering, from San Diego State. Two years later he founded Masimo in his proverbial garage, and he’s been making history ever since. Most important, Joe’s not just a great businessman and philanthropist - although he’s both, with his Patient Safety Movement Foundation, he’s leveraging his indomitable courage and spirit to put a stop to the avoidable medical errors that are killing well over a quarter of a million patients in American hospitals every year.”   

Also at the Event, the heads of eight innovative healthcare organizations will compete for the 2016 ABBY Awards, which recognize and celebrate organizations which have brought to market innovative medical and digital health technologies and approaches to the delivery of healthcare that are dramatically reducing its cost, while improving quality. Event attendance is open to ABL Members and their guests, as well as non-Member senior executives of healthcare providers and payers, digital health, medical technology, and services firms.

Past “Leadership in Innovation” Award Winners

Previous “Leadership in Innovation” Award Winners have included Sanjeev Arora, MD, Founder of Project ECHO; Thomas J. Fogarty, MD, Founder of the Fogarty Institute for Innovation and 30 medical device companies; Steve Plochocki, CEO of Quality Systems, Inc./ NextGen; Daniel Kraft, MD, CEO of Intellimedicine; Patrick Soon-Shiong, MD, CEO of NantWorks; Steve Case, CEO of Revolution Health Group; Steve Burd, CEO of Safeway Inc.; Kent Thiry, CEO of DaVita, Inc.; and Leonard Schaeffer, CEO of WellPoint Health Networks.

About the Adaptive Business Leaders (ABL) Organization

Since 1983, the Adaptive Business Leaders Organization (ABL) has networked its Members to help them grow great companies through its Healthcare and Technology CEO Round Tables. Each month, Members leverage each other's skills, expertise, and connections, in a confidential, personal advisory board setting. During each session, Members share best practices with their non-competitive peers as they share "What's Up?" and tackle topics like: "How CMS Is Getting Better, Smarter, Healthier," "How to Avoid Being the Next Ransomware Attack Victim," "Launching New Growth Initiatives: What Works?," and "New Care Approaches for the Fragile Elderly." Each session also has a Featured Member or Guest Speaker who makes a Strategic Advisory Board presentation, imparting valuable insights and in return receiving leveraged feedback from the Group.

Additionally, ABL Members are encouraged to attend frequent ABL Workshops and Conferences. The largest of these is the Innovations in Healthcare(TM) ABBY Awards Event. Other events held in 2016 included the 13th annual Top Tech Trends; Meet the Money: What Investors Want Now (held in both Newport Beach and San Francisco); Positioning to Win with MACRA; and a Member Social. In addition to the Members' peer mentors, each Round Table's professional facilitator serves as an objective business advisor, offering executive and industry insights.

ABL's Healthcare Round Tables are held in Los Angeles, Orange County, San Diego, Silicon Valley, San Francisco, Oakland, and Sacramento. ABL's separate Technology Round Tables are held in both Los Angeles and Orange Counties. More information about and testimonials from ABL Members can be found here.

Contact: Laura Grant, Events Director, at 714/245-1427, or Janet Rich, Publications Manager, at 509/481-7461 

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