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Danaher Corporation has announced a definitive agreement to acquire Masimo Corporation in a transaction valued at approximately $9.9 billion. The deal will expand Danaher’s diagnostics portfolio by adding Masimo’s pulse oximetry and patient monitoring technologies, widely used in acute care settings. The agreement will see Danaher purchase all outstanding shares of Masimo for $180 per share in cash.
Rainer M. Blair, President and Chief Executive Officer of Danaher, described the deal as a strong strategic fit. “We are excited to welcome the Masimo team to Danaher. We’ve followed this innovative company for many years and see it as an exceptional strategic fit for Danaher. Masimo is a leader in pulse oximetry and other patient monitoring solutions, which combined with its trusted brand and differentiated technology, will greatly strengthen our diagnostics franchise. With the Danaher Business System and our global scale, we see opportunities to expand Masimo’s reach and continue improving outcomes for patients, particularly those in acute care settings.”
Julie Sawyer Montgomery, Executive Vice President for Diagnostics at Danaher, highlighted the technology alignment between the two companies. “Masimo’s advanced sensor technology and AI-enabled monitoring bring powerful new capabilities to our diagnostics portfolio. Integrating these strengths into Danaher will create meaningful opportunities to innovate for clinicians and improve decision making in critical settings.”
Danaher has long positioned itself as a science and technology innovator in life sciences and diagnostics. By bringing Masimo into the fold, the company adds a recognized name in pulse oximetry and non-invasive monitoring, technologies that became widely visible during the COVID-19 pandemic but have long been essential in hospitals worldwide.
Masimo’s advanced sensor technology and AI-enabled monitoring systems are expected to complement Danaher’s existing diagnostics businesses. Once the transaction closes, Masimo will operate as a standalone company within Danaher’s Diagnostics segment.
The strategic logic is straightforward: combine Masimo’s real-time monitoring expertise with Danaher’s global scale, operational model, and commercial reach. Danaher’s leadership has pointed to its Danaher Business System, a framework for continuous improvement, as a lever to extend Masimo’s presence in both established and emerging markets.
Healthcare systems globally are under pressure to improve outcomes while managing cost and complexity. Monitoring technologies that provide earlier, more accurate data at the bedside can influence clinical decisions in real time. By integrating Masimo’s sensor platforms and AI-enabled capabilities into its diagnostics portfolio, Danaher is positioning itself more deeply within critical care workflows, where diagnostics and monitoring increasingly intersect.
The move also reflects a broader industry pattern: diagnostics companies are expanding beyond traditional laboratory testing into patient-connected technologies that generate continuous data streams. In that sense, this acquisition is less about adding a product line and more about expanding the scope of clinical insight.
The transaction is expected to close in the second half of 2026, pending regulatory approvals and shareholder consent. Danaher plans to finance the acquisition through a combination of cash on hand and debt financing.
Advisory support for the transaction came from Citi and Goldman Sachs, with legal counsel provided by Kirkland & Ellis LLP.
For Danaher, this is another calculated addition to a portfolio built around science-driven platforms. For Masimo, it marks the beginning of a new chapter within a larger diagnostics ecosystem. And for clinicians and patients in acute care settings, it could mean more integrated tools at the bedside, where data, timing, and decision-making converge.
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