Masimo completes sale of consumer audio unit to HARMAN for $350M; to prioritize share repurchases

MASIMO CORP

Closed sale of Sound United to Harman (Samsung subsidiary) for $350M cash; received ~$328M at close subject to adjustments.
CEO says sale positions Masimo to focus on core professional healthcare business, accelerate growth, and improve margins.
Masimo plans to prioritize share repurchases with proceeds from the sale.
Centerview Partners, Morgan Stanley, and Sullivan & Cromwell advised Masimo.

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