Masimo’s Strategy Capitalizes on Innovation to
Enhance Growth and Create Value for All Stockholders
Politan is Making a Bid for Control Without
Paying a Premium or Articulating a Clear Plan
Politan is Seeking to Replace Masimo Founder,
Chairman and CEO Joe Kiani with Inferior Politan Nominees
Politan’s Actions are a Threat to Stockholder
Value
Masimo Has a Better Plan and Better
Nominees
Strongly Encourages Stockholders to Vote FOR
Joe Kiani and Christopher Chavez on the GOLD Proxy Card
Visit ProtectMasimosFuture.com for More
Information
Masimo Corporation (“Masimo” or the “Company”) (Nasdaq: MASI)
today filed an investor presentation with the U.S. Securities and
Exchange Commission in connection with its Annual Meeting of
Stockholders to be held on July 25, 2024. The presentation lays out
in detail:
- The Company’s robust track record of innovation, led by Masimo
Founder, Chairman and CEO Joe Kiani, that supports Masimo’s
longstanding valuation premium to industry peers;
- Masimo’s strategic initiatives for sustained growth and margin
expansion that are expected to more than double adjusted EPS to ~$8
by 2029; and
- The Company’s belief that Politan’s value-destructive agenda to
oust Mr. Kiani and take control of Masimo without paying a premium
or articulating an exercisable plan poses a significant risk to the
value of the Company.
To safeguard stockholders’ investments and ensure continued
value creation, the Board strongly recommends that stockholders
vote FOR Masimo’s highly qualified director nominees, Joe Kiani and
Christopher Chavez.
The presentation is available here.
About Masimo
Masimo (NASDAQ: MASI) is a global medical technology company
that develops and produces a wide array of industry-leading
monitoring technologies, including innovative measurements,
sensors, patient monitors, and automation and connectivity
solutions. In addition, Masimo Consumer Audio is home to eight
legendary audio brands, including Bowers & Wilkins, Denon,
Marantz, and Polk Audio. Our mission is to improve life, improve
patient outcomes, and reduce the cost of care. Masimo SET®
Measure-through Motion and Low Perfusion™ pulse oximetry,
introduced in 1995, has been shown in over 100 independent and
objective studies to outperform other pulse oximetry technologies.1
Masimo SET® has also been shown to help clinicians reduce severe
retinopathy of prematurity in neonates,2 improve CCHD screening in
newborns3 and, when used for continuous monitoring with Masimo
Patient SafetyNet™ in post-surgical wards, reduce rapid response
team activations, ICU transfers, and costs.4-7 Masimo SET® is
estimated to be used on more than 200 million patients in leading
hospitals and other healthcare settings around the world,8 and is
the primary pulse oximetry at 9 of the top 10 hospitals as ranked
in the 2022-23 U.S. News and World Report Best Hospitals Honor
Roll.9 In 2005, Masimo introduced rainbow® Pulse CO-Oximetry
technology, allowing noninvasive and continuous monitoring of blood
constituents that previously could only be measured invasively,
including total hemoglobin (SpHb®), oxygen content (SpOC™),
carboxyhemoglobin (SpCO®), methemoglobin (SpMet®), Pleth
Variability Index (PVi®), RPVi™ (rainbow® PVi), and Oxygen Reserve
Index (ORi™). In 2013, Masimo introduced the Root® Patient
Monitoring and Connectivity Platform, built from the ground up to
be as flexible and expandable as possible to facilitate the
addition of other Masimo and third-party monitoring technologies;
key Masimo additions include Next Generation SedLine® Brain
Function Monitoring, O3® Regional Oximetry, and ISA™ Capnography
with NomoLine® sampling lines. Masimo’s family of continuous and
spot-check monitoring Pulse CO-Oximeters® includes devices designed
for use in a variety of clinical and non-clinical scenarios,
including tetherless, wearable technology, such as Radius-7®,
Radius PPG®, and Radius VSM™, portable devices like Rad-67®,
fingertip pulse oximeters like MightySat® Rx, and devices available
for use both in the hospital and at home, such as Rad-97® and the
Masimo W1® medical watch. Masimo hospital and home automation and
connectivity solutions are centered around the Masimo Hospital
Automation™ platform, and include Iris® Gateway, iSirona™, Patient
SafetyNet, Replica®, Halo ION®, UniView®, UniView :60™, and Masimo
SafetyNet®. Its growing portfolio of health and wellness solutions
includes Radius Tº®, Masimo W1 Sport, and Masimo Stork™. Additional
information about Masimo and its products may be found at
www.masimo.com. Published clinical studies on Masimo products can
be found at www.masimo.com/evidence/featured-studies/feature/.
RPVi has not received FDA 510(k) clearance and is not available
for sale in the United States. The use of the trademark Patient
SafetyNet is under license from University HealthSystem
Consortium.
References
- Published clinical studies on pulse oximetry and the benefits
of Masimo SET® can be found on our website at
http://www.masimo.com. Comparative studies include independent and
objective studies which are comprised of abstracts presented at
scientific meetings and peer-reviewed journal articles.
- Castillo A et al. Prevention of Retinopathy of Prematurity in
Preterm Infants through Changes in Clinical Practice and SpO2
Technology. Acta Paediatr. 2011 Feb;100(2):188-92.
- de-Wahl Granelli A et al. Impact of pulse oximetry screening on
the detection of duct dependent congenital heart disease: a Swedish
prospective screening study in 39,821 newborns. BMJ. 2009;Jan
8;338.
- Taenzer A et al. Impact of pulse oximetry surveillance on
rescue events and intensive care unit transfers: a before-and-after
concurrence study. Anesthesiology. 2010:112(2):282-287.
- Taenzer A et al. Postoperative Monitoring – The Dartmouth
Experience. Anesthesia Patient Safety Foundation Newsletter.
Spring-Summer 2012.
- McGrath S et al. Surveillance Monitoring Management for General
Care Units: Strategy, Design, and Implementation. The Joint
Commission Journal on Quality and Patient Safety. 2016
Jul;42(7):293-302.
- McGrath S et al. Inpatient Respiratory Arrest Associated With
Sedative and Analgesic Medications: Impact of Continuous Monitoring
on Patient Mortality and Severe Morbidity. J Patient Saf. 2020 14
Mar. DOI: 10.1097/PTS.0000000000000696.
- Estimate: Masimo data on file.
-
http://health.usnews.com/health-care/best-hospitals/articles/best-hospitals-honor-roll-and-overview.
Forward-Looking Statements
This press release includes forward-looking statements as
defined in Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
in connection with the Private Securities Litigation Reform Act of
1995. These forward-looking statements include, among others,
statements regarding the 2024 Annual Meeting of Stockholders (the
“2024 Annual Meeting”) of Masimo and the potential stockholder
approval of the Board’s nominees and the potential separation of
Masimo’s consumer business (the “Potential Separation”), Masimo’s
expectation that the Potential Separation will maximize shareholder
value or be the best path for success, Masimo’s plans to grow
consumable and service revenue across all technology platforms,
Masimo’s strategic initiatives, Masimo’s estimates, forecasts and
expectations for its gross margin, R&D expenses, SG&A
expenses and non-GAAP operating margin and Masimo’s long-term
revenue growth, operating margin and earnings per share estimates
and targets. These forward-looking statements are based on current
expectations about future events affecting Masimo and are subject
to risks and uncertainties, all of which are difficult to predict
and many of which are beyond Masimo’s control and could cause its
actual results to differ materially and adversely from those
expressed in its forward-looking statements as a result of various
risk factors, including, but not limited to (i) uncertainties
regarding the Potential Separation, (ii) uncertainties regarding
future actions that may be taken by Politan in furtherance of its
nomination of director candidates for election at the 2024 Annual
Meeting, (iii) the potential cost and management distraction
attendant to Politan’s nomination of director nominees at the 2024
Annual Meeting and (iv) factors discussed in the “Risk Factors”
section of Masimo’s most recent periodic reports filed with the
Securities and Exchange Commission (“SEC”), which may be obtained
for free at the SEC’s website at www.sec.gov. Although Masimo
believes that the expectations reflected in its forward-looking
statements are reasonable, the Company does not know whether its
expectations will prove correct. All forward-looking statements
included in this press release are expressly qualified in their
entirety by the foregoing cautionary statements. You are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of today’s date. Masimo does not undertake any
obligation to update, amend or clarify these statements or the
“Risk Factors” contained in the Company’s most recent reports filed
with the SEC, whether as a result of new information, future events
or otherwise, except as may be required under the applicable
securities laws.
Additional Information Regarding the 2024 Annual Meeting of
Stockholders and Where to Find It
The Company has filed a definitive proxy statement containing a
form of GOLD proxy card with the SEC in connection with its
solicitation of proxies for its 2024 Annual Meeting. THE COMPANY’S
STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ THE DEFINITIVE PROXY
STATEMENT (AND ANY AMENDMENTS AND SUPPLEMENTS THERETO) AND
ACCOMPANYING GOLD PROXY CARD AS THEY WILL CONTAIN IMPORTANT
INFORMATION. Stockholders may obtain the proxy statement, any
amendments or supplements to the proxy statement and other
documents as and when filed by the Company with the SEC without
charge from the SEC’s website at www.sec.gov.
Certain Information Regarding Participants
The Company, its directors and certain of its executive officers
and employees may be deemed to be participants in connection with
the solicitation of proxies from the Company’s stockholders in
connection with the matters to be considered at the 2024 Annual
Meeting. Information regarding the direct and indirect interests,
by security holdings or otherwise, of the Company’s directors and
executive officers in the Company is included in the Company’s
definitive proxy statement for the 2024 Annual Meeting, which can
be found through the SEC’s website at
https://www.sec.gov/ix?doc=/Archives/edgar/data/0000937556/000121390024053125/ea0206756-05.htm,
and any changes thereto may be found in any amendments or
supplements to the proxy statement and other documents as and when
filed by the Company with the SEC, which can be found through the
SEC’s website at www.sec.gov.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240626843174/en/
Investor Contact: Eli Kammerman (949) 297-7077
ekammerman@masimo.com
Media Contact: Evan Lamb (949) 396-3376
elamb@masimo.com
Masimo (NASDAQ:MASI)
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から 5 2024 まで 6 2024
Masimo (NASDAQ:MASI)
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から 6 2023 まで 6 2024