Danaher has entered into a definitive agreement to acquire Masimo, a specialty diagnostics provider of pulse oximetry and other patient monitoring solutions, primarily in acute care settings.
Under the terms of the agreement, Danaher will acquire all of the outstanding shares of Masimo common stock for $180 per share in cash, or a total enterprise value of approximately $9.9 billion.
The transaction is anticipated to close in the second half of 2026.
"We are excited to welcome the Masimo team to Danaher. We've followed this innovative company for many years and see it as an exceptional strategic fit for Danaher," said Danaher CEO Rainer M. Blair in a statement. "Masimo is a leader in pulse oximetry and other patient monitoring solutions, which combined with its trusted brand and differentiated technology, will greatly strengthen our diagnostics franchise. With the Danaher Business System and our global scale, we see opportunities to expand Masimo's reach and continue improving outcomes for patients, particularly those in acute care settings."
Upon completion of the transaction, Masimo will be a standalone operating company within Danaher's Diagnostics segment along with Radiometer, Leica Biosystems, Cepheid and Beckman Coulter Diagnostics.
Masimo has made headlines in the past few years for its high-profile patent infringement legal battle with Apple. In November, Masimo said it had been awarded $634 million in damages by U.S. District Court for the Central District of California as part of a case tied to health monitoring technology embedded in Apple Watch devices.
