Danaher Strengthens Diagnostics Capabilities With $9.9 Bln Masimo Acquisition

(RTTNews) - Danaher Corp. (DHR), a science and technology innovator, announced Tuesday that it has entered into a definitive agreement to acquire Masimo Corp. (MASI) a specialty diagnostics provider, primarily in acute care settings.

Under the terms of the agreement, Danaher will acquire all of the outstanding shares of Masimo common stock for $180 per share in cash, or a total enterprise value of approximately $9.9 billion including assumed indebtedness and net of acquired cash.

Upon completion of the transaction, Masimo will be a standalone operating company within Danaher's Diagnostics segment along with Radiometer, Leica Biosystems, Cepheid and Beckman Coulter Diagnostics.

Masimo is expected to be accretive to adjusted net earnings per share by $0.15 to $0.20 in the first full year and approximately $0.70 in the fifth full year following completion of the acquisition. It is also expected to deliver high-single digit core revenue growth over the long-term, accelerating Danaher's Diagnostics segment core revenue growth profile.

Under Danaher's ownership, Masimo is expected to generate EBITDA of more than $530 million in 2027. Additionally, Danaher expects to realize more than $125 million of annual cost synergies and more than $50 million of annual revenue synergies by the fifth full year following completion of the acquisition.

The transaction is anticipated to close in the second half of 2026 and is subject to customary conditions, including receipt of applicable regulatory clearances and Masimo shareholder approval. Danaher expects to fund the acquisition using cash on hand and proceeds from debt financing.