Danaher to acquire Masimo for $9.9B

WASHINGTON – Danaher Corporation, a global science and technology company, has entered into a definitive agreement to acquire Masimo Corporation, 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, including assumed indebtedness and net of acquired cash.

"We are excited to welcome the Masimo team to Danaher,” said Rainer M. Blair, president and CEO, Danaher. “We've followed this innovative company for many years and see it as an exceptional strategic fit for Danaher. 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."

In 2024, Masimo partnered with Google on a wearables platform for original equipment manufacturers (OEMs). 

Upon completion of the transaction, Masimo will operate as a standalone company within Danaher's Diagnostics segment along with Radiometer, Leica Biosystems, Cepheid and Beckman Coulter Diagnostics.

The transaction is anticipated to close in the second half of 2026 and is subject to customary conditions, including receipt of applicable regulatory clearances and Masimo shareholder approval. Danaher expects to fund the acquisition using cash on hand and proceeds from debt financing.

Citi acted as financial advisor to Danaher and Goldman Sachs provided advisory support. Kirkland & Ellis LLP served as legal advisor to Danaher in connection with the transaction.