How One Billionaire Solved A Major Problem With Pulse Oximetry | Forbes

Joe Kiani had achieved the dream. Masimo Corp., which he founded and runs as CEO and chairman, had carved out a lucrative niche as one of the top makers of pulse oximeters, those fingertip sensors that hospitals use to measure oxygen saturation in patients’ blood. Masimo had made Kiani, who immigrated in poverty to the U.S. from Iran as a child, rich—a billionaire, by Forbes’ reckoning. As an electrical engineer, he took pride in the fact that devices he had personally designed were excellent, commanding a slightly bigger share of the U.S. hospital pulse oximeter market than its chief competitor, Nellcor, which is a unit of Medtronic, a company roughly 15 times Masimo’s size. Together the two companies account for about 90% of sales.

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