Masimo Receives Non-Binding Offer of $850M-$950M for Consumer Business from Potential JV Partner

MASIMO CORP

Masimo entered non-binding term sheet with Potential JV Partner on May 7, 2024, for sale of majority stake in consumer businesses.
On July 2, 2024, Potential JV Partner provided term sheet confirmation offering $850M-$950M for consumer business on cash/debt free basis.
Exclusivity period extended through mid-August 2024 to allow one to two other companies to conduct due diligence and potentially join.
Masimo intends to negotiate for a higher price as the offer is lower than prior term sheet price.
Board continues to evaluate separation structures including a possible spin-off of consumer business.

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