Masimo announced that it has begun an agreement to be acquired by Danaher for $180 per share in cash, representing a total value of $9.9 billion.

The transaction was approved by both Masimo’s and Danaher’s boards of directors. Masimo will become a standalone business unit and brand in Danaher’s Diagnostics segment and will operate autonomously, strengthening its offering in acute care settings.

“We look forward to joining Danaher and continuing our growth and momentum as the global leader in patient monitoring,” said Masimo CEO Katie Szyman. “Danaher shares our commitment to investing in talent and innovation and will be an ideal fit to help power the next chapter of Masimo. Importantly, becoming part of Danaher’s Diagnostics segment will strengthen our ability to scale our monitoring technologies globally and accelerate our mission of delivering Masimo innovations that empower clinicians to transform patient care.”

The transaction is subject to satisfaction or waiver of certain closing conditions, including receiving required regulatory approvals. It’s expected to close in the second half of 2026.

“This transaction represents a unique opportunity to deliver certain and premium value for Masimo’s shareholders, enhance outcomes for customers and patients, and provide compelling career growth paths for our employees across the world,” said Masimo board chairman Michelle Brennan. “The Board evaluated a broad range of opportunities over the past several months—which included pursuing our standalone strategy—and engaged with multiple other potential partners. Ultimately, it became evident that this transaction with Danaher was the most value-enhancing path for Masimo and all its stakeholders.”

Masimo will report its fourth quarter and full-year 2025 results on February 26.