Masimo offers to appoint Politan Capital nominee to board

Craig Reynolds, Masimo’s lead independent director, sent a letter to Politan Capital Management’s managing partner Quentin Koffey which stated in part, ” I believe it is critical that Politan Capital Management LP and the Company reach an agreement with respect to the upcoming 2024 Annual Meeting of Stockholders that allows us to avoid the significant distraction and expense of a proxy contest, as you similarly noted in your press release issued on March 25, 2024. Toward that end, I am writing to reiterate the verbal settlement offer I extended on May 6, 2024. The Company is prepared to appoint your director nominee William R. Jellison as a Class II Director if Politan will withdraw its other nominee and drop its proxy contest…Reaching a settlement would provide stockholders immediate clarity on the path forward, confidence that management can focus on operational execution and not be distracted by a proxy contest, and reassurance that the separation process will continue uninterrupted. We have a clear path towards maximizing stockholder value through a separation of the Consumer Business approved by an independent board, 50% of which (3 of 6 directors) would be Politan-nominated directors.”