Masimo Acquired by Danaher — Healthcare M&A

Danaher has agreed to acquire Masimo Corporation in a cash transaction valued at about $9.9 billion, including debt and acquired cash. The offer price is $180 per share. The deal is structured as a platform acquisition and is expected to close in the second half of 2026, subject to regulatory approvals and Masimo shareholder approval. Danaher plans to integrate Masimo into its Diagnostics segment, where it will operate alongside Radiometer, Leica Biosystems, Cepheid, and Beckman Coulter Diagnostics.

Masimo, a medical devices company known for patient monitoring and sensor technologies, is expected to strengthen Danaher’s diagnostics portfolio, particularly in acute care settings. Danaher’s stated rationale centers on scaling Masimo’s technology through its global footprint and applying its Business System to expand reach and support clinical outcomes. The company also points to Masimo’s AI-enabled monitoring capabilities as a foundation for innovation in clinical decision-making.

Under the terms announced, Danaher expects the acquisition to contribute between $0.15 and $0.20 to adjusted diluted earnings per share in the first full year after closing, rising to roughly $0.70 by year five. The company projects more than $530 million in EBITDA in 2027 and anticipates annual cost synergies of over $125 million and revenue synergies exceeding $50 million within five years of closing. Danaher will fund the purchase using available cash and debt proceeds.