Masimo Corp Stock Price, News & Analysis

On June 24, 2024, Masimo (NASDAQ: MASI) achieved a significant legal victory with the dismissal of a patent infringement lawsuit filed by Wrist SP Biotech. The lawsuit, initially filed in August 2023, accused Masimo's pulse oximetry sensors of infringing U.S. Patent No. 11,331,015. The case was transferred from the Western District of Texas to the Central District of California, where detailed evidence from Masimo led to the dismissal with no payment. Masimo, represented by the legal team at Knobbe Martens, has seen a series of legal successes, including a permanent injunction against Sotera Wireless and Foxconn, and an import ban on Apple watches that infringed Masimo's technology. CEO Joe Kiani emphasized the company's respect for valid intellectual property and praised the legal team's efforts.

Masimo's Board of Directors has filed proxy materials and issued a letter to stockholders, urging them to vote for current board nominees Joe Kiani and Christopher Chavez on the GOLD proxy card in the upcoming Annual Meeting on July 25, 2024. The Board warns that giving control to Politan Capital Management could jeopardize Masimo's innovation and growth. Masimo highlights its strong track record, ongoing organic growth, and plans for margin expansion. The Board criticizes Politan's obstructive behavior, which they believe threatens Masimo's future and operational stability. For more information, visit ProtectMasimosFuture.com.

Masimo (NASDAQ: MASI) will participate in the Goldman Sachs 45th Annual Global Healthcare Conference on June 12, 2024, at 8:00 a.m. Eastern Time.

A live webcast of their presentation will be available on the Masimo website, with a replay accessible afterward.

Masimo (NASDAQ: MASI) has announced a partnership with Mobilize Recovery to support the Mobilize Recovery 2024 bus tour, starting September 20th in Los Angeles. The tour aims to raise awareness and support communities in combating the opioid epidemic and improving addiction recovery. Masimo will feature two key innovations: the Opioid Halo™, an FDA-cleared monitoring solution for opioid-induced respiratory depression, and Bridge™, a non-surgical device for reducing opioid withdrawal symptoms. This initiative is part of a broader effort to prevent overdoses and enhance recovery outcomes across the U.S.

Politan Capital Management, an 8.9% shareholder of Masimo, has filed a preliminary proxy statement proposing two independent candidates, Dr. Darlene Solomon and William Jellison, for election to Masimo's Board at the 2024 Annual Meeting scheduled for July 25th. Politan criticizes Masimo's nomination of Christopher Chavez, arguing it reflects resistance to independent oversight. Politan emphasizes its efforts to propose compromises that would have kept Joe Kiani on the Board and calls for shareholders to consider the need for an independent Board to oversee important decisions.

Masimo has announced a partnership with Germans Trias i Pujol Hospital in Barcelona to launch the SESHAT project, a telehealth and remote patient management initiative.

The project aims to implement up to 1,000 Masimo W1 medical watches and 100 Radius VSM monitors to track patient data in real-time both in hospital and at home.

The initiative, starting in Q4 2023 and lasting at least three years, seeks to transition from reactive to predictive healthcare. The project arose from needs identified during the COVID pandemic and aims to improve patient outcomes while reducing the cost of care.

Masimo will provide additional hospital automation solutions and AI-powered tools to support the project.

Germans Trias i Pujol Hospital serves over 800,000 people in north Barcelona and is known for its clinical innovation and research.

Masimo (NASDAQ: MASI) announced the nomination of Christopher Chavez for election as a Class II Director at its 2024 Annual Meeting of Stockholders. Chavez, with over 30 years of experience in the medical device industry and two past appointments as a CEO, is expected to bring valuable strategic, operational, and transactional expertise to the Board. This nomination follows the unexpected resignation of Rolf Classon due to health issues. Additionally, Masimo extended its third settlement offer to Politan Capital Management, proposing that both Chavez and Politan nominee William Jellison be added to the Board, which Politan again rejected. Chavez has a strong track record, including leading TriVascular and Advanced Neuromodulation Systems to significant growth and successful mergers.

Masimo (NASDAQ: MASI) announced that its management team will participate in the Jefferies Global Healthcare Conference. The event is scheduled for Wednesday, June 5, 2024, at 1:00 p.m. Eastern Time. The company will offer a live webcast of the presentation on its website, www.masimo.com. Investors and interested parties can also access a replay of the webcast after the live event.

Medable and Masimo have partnered to enhance clinical trials with medical-grade wearable devices. Masimo’s MightySat® Rx pulse oximeter, integrated into Medable’s platform, will be used in eight major oncology studies across 25 countries, involving over 3,000 patients. The partnership aims to improve patient participation and data quality in trials by reducing travel burdens for patients and leveraging both subjective and objective data. The collaboration is expected to yield faster enrollment and significant cost reductions in trials, with decentralized trials showing a potential ROI of $10M to $39M for Phase II and III trials.