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Masimo seeks to avoid proxy fight with Politan, offers settlement

The Masimo logo is displayed at the Masimo headquarters in Irvine, California on December 27, 2023.

Mario Tama | Getty Images

Health technology company Masimo, facing the looming threat of litigation and a second proxy fight, on Thursday proposed a settlement to Politan Capital’s Quentin Koffey that would fill a vacant board seat with the one of the administrators proposed by the activist.

Masimo’s lead independent director, Craig Reynolds, said he hoped the addition of William Jellison, Politan’s nominee to the company’s board, would “avoid the distractions and significant expense of a proxy contest. The company is trying to spin off its consumer technology division along with an unspecified joint venture partner, CEO Joe Kiani said earlier this year.