Danaher Agrees $9.9B Cash Acquisition of Masimo at $180 Per Share
Danaher will acquire Masimo for $180 per share, valuing the deal at $9.9 billion including debt and net of cash. The transaction implies an 18x 2027 EBITDA multiple and is expected to add $0.15–$0.20 to adjusted EPS in year one and deliver over $125 million in annual cost synergies.
1. Deal Terms
Danaher will purchase all outstanding Masimo shares at $180 per share in cash, representing an enterprise value of approximately $9.9 billion including assumed debt and net of cash.
2. Valuation and Multiples
The deal reflects an 18x multiple on Masimo’s estimated 2027 EBITDA, or 15x when incorporating expected annual synergies at full run rate.
3. Expected Financial Impact
The acquisition is forecast to be accretive by $0.15–$0.20 in adjusted diluted EPS in its first full year and $0.70 by the fifth year, with Masimo projected to generate over $530 million of EBITDA in 2027 and deliver more than $125 million in annual cost synergies plus $50 million in revenue synergies.
4. Closing Timeline and Structure
The transaction is slated to close in H2 2026 pending regulatory and shareholder approvals, after which Masimo will operate as a standalone company within Danaher’s Diagnostics segment, funded through cash on hand and debt financing.