Danaher’s $9.9 Billion Acquisition of Masimo

Cleary Gottlieb is representing Danaher Corporation (Danaher) as global antitrust/competition counsel in its approximately $9.9 billion all-cash acquisition of Masimo Corporation (Masimo), pursuant to a definitive agreement entered into by the parties.

Danaher, headquartered in Washington, D.C., is a global science and technology company focused on diagnostics, life sciences, and environmental and applied solutions, including clinical diagnostics platforms, genomics and bioprocessing tools, and water quality technologies. Masimo, headquartered in Irvine, California, is a medical technology company focused on non-invasive patient-monitoring solutions, including pulse oximetry systems, sensors, and related monitoring technologies.

Following completion of the transaction, Masimo is expected to operate as a standalone business within Danaher’s Diagnostics segment, expanding Danaher’s diagnostics and life sciences portfolio into patient-monitoring and adjacent acute-care technologies.

The transaction is expected to close in the second half of 2026, subject to customary regulatory approvals and closing conditions.

The Cleary antitrust and competition team includes partners Bruce Hoffman and Blair Matthews and associates Tobi Kraft and Kelton Anderson in Washington, D.C.; associates Kasey Clarke and Lara Ellenberg in New York; associates Sean Sharaf and Justin Lin in the Bay Area; and partners Nick Levy and Romi Lepetska and associates Augustin Bourleaud, Jaime Castillo Botero, and Renata Stefan in Brussels and London.