Danaher agreed on 17 February to acquire Masimo, the Irvine, California-based maker of pulse oximetry and patient monitoring systems, for $180 per share in cash, an enterprise value of about $9.9bn.
Why Danaher Corporation is buying Masimo Corporation
Danaher said Masimo's sensor technology, brand and AI-enabled monitoring would strengthen its diagnostics franchise, and that the Danaher Business System and its global reach could widen Masimo's footprint, particularly in acute care. It expects Masimo to deliver high-single-digit core revenue growth over the long term and EBITDA of more than $530m in 2027.
Deal terms and financing
The cash price implies about 18 times estimated 2027 EBITDA, or 15 times including the full benefit of expected synergies of more than $125m a year in costs and $50m in revenue by the fifth full year. Danaher expects the deal to add $0.15 to $0.20 to adjusted earnings per share in the first full year and about $0.70 by the fifth. It is funded with cash on hand and new debt.
Regulatory approvals and timing
The deal required regulatory clearances and Masimo shareholder approval, with closing originally expected in the second half of 2026. Danaher announced completion in June 2026; Masimo became a wholly owned subsidiary and its shares ceased trading on Nasdaq, Respiratory Therapy reported on 12 June.
Market context
Masimo will keep its brand and sit within Danaher's Diagnostics segment with Radiometer, Leica Biosystems, Cepheid and Beckman Coulter Diagnostics.
