An undisclosed buyer signed a letter of intent to acquire an unknown majority stake in Consumer Business of Masimo Corporation from Masimo Corporation.

An undisclosed buyer signed a letter of intent to acquire an unknown majority stake in Consumer Business of Masimo Corporation from Masimo Corporation (NasdaqGS:MASI) on May 7, 2024. The Potential JV Partner would make a cash payment to Masimo and also contribute cash to the Potential JV. The Term Sheet Confirmation provides, among other things, that the Potential JV Partner is prepared to offer a purchase price in the range of $850 million to $950 million for Masimo?s consumer business, on a cash and debt free basis.

The Term Sheet Confirmation also contemplates a short-term extension of the exclusivity period between the parties through mid-August 2024 with respect to a Potential JV. are subject to, among other matters, further discussion and agreement between the parties, completion of due diligence and receipt of all corporate or other approvals required by Masimo and the Potential JV Partner/s, including approval of Masimo?s Board of Directors. Masimo is being advised by Morgan Stanley and outside counsel in connection with the Potential JV.