Danaher (DHR) is nearing a roughly $10 billion deal to acquire U.S. medical technology firm Masimo (MASI), the Financial Times reported, citing people familiar with the matter.
A deal for the California-based Masimo could be announced as early as Tuesday, provided it does not hit any last-minute snags, the report said. That deal value represents a premium to its nearly $7B market capitalization at Friday’s close.
Masimo, a leading manufacturer of pulse oximeters, which measure blood oxygen levels, has challenged Apple over breaching its patents in a long-running intellectual property dispute over the Apple Watch.
The Masimo deal would be Danaher’s (DHR) biggest acquisition in more than half a decade since its $21.4B takeover of Cytiva, the biologics manufacturing arm previously owned by GE Life Sciences, the report said.
Masimo’s (MASI) stock has declined by 27% over the past year.