Masimo approves $9.9B Danaher deal

Medical-device M&A is back in the spotlight because Masimo’s shareholders just signed off on Danaher’s $9.9 billion takeover. That matters because Masimo sells the pulse oximetry and hospital-monitoring gear that sits close to bedside care, while Danaher is a giant platform owner that knows how to absorb and scale diagnostics businesses. The unresolved piece was shareholder approval. That changed at Masimo’s special meeting on May 1, with the company announcing the vote result on May 4. (investor.masimo.com) ### What exactly got approved? Masimo’s stockholders voted to adopt the merger agreement signed on February 16, 2026, between Masimo, Danaher, and Danaher’s merger subsidiary. This does not close the deal by itself. It clears one of the formal checkpoints needed before Masimo can disappear into Danaher in an all-cash transaction. (investor.masimo.com) ### What is Danaher actually buying? Basically, Danaher is buying a patient-monitoring specialist with a strong installed base in hospitals. Masimo is best known for pulse oximetry, brain and regional oximetry, capnography, and other monitoring t(investor.masimo.com) company, which is classic Danaher — buy a business with a strong niche, then plug it into a bigger commercial and operating system. (investors.danaher.com) ### Why is $180 a share a big deal? Because Danaher offered cash, not stock, and it offered a meaningful premium. The agreed price was $180 per share, valuing the transaction at about $9.9 billion and representing a 38.3% premium to Masimo’s prior closing price when the deal was (investors.danaher.com)(investor.masimo.com) ### Why did Masimo want this? Masimo has spent years in a weird in-between state — part hospital-tech company, part consumer-health and wearables story, with a lot of strategic noise around both. A sale to Danaher gives shareholders a clean ca(investor.masimo.com)her than as a standalone fight. (markets.ft.com) ### What still has to happen? Regulatory approval and standard closing conditions. That sounds boring, but this is now the whole ballgame. Once shareholders approve a deal like this, the main remaining question is whether antitrust or other regulators see a problem. The companies have said they expect to close later in 2026, not immediately. (investor.masimo.com) ### Why do buyers and hospitals care? Because ownership changes usually mean commercial changes. Maybe not on day one, but over time. Danaher tends to be disciplined about portfolio structure, channel strategy, and pricing architecture. So buyers(investor.masimo.com)g cleanup once integration planning turns into execution. That last part is an inference, but it fits Danaher’s usual playbook and the structure they’ve already laid out for Masimo inside Diagnostics. (investors.danaher.com) ### Is this a big shift for Danaher too? Yes — but in a targeted way. Danaher is not buying Masimo to become a general medtech conglomerate overnight. It is buying a company that deepens its diagnostics and monitoring reach with products that already matter in hospitals. Turns ou(investors.danaher.com)t can ride an existing operating machine. (investors.danaher.com) ### Bottom line? The shareholder vote means the deal is now real enough to plan around. But it is not done. The next headline is not about persuasion — it is about clearance. If regulators wave it through, Danaher gets a new hospital-facing asset and Masimo stops being a standalone public company later this year. (investor.masimo.com)