Masimo Corp Files Definitive Proxy Materials

TL;DR

MASI proxy filing is out, standard shareholder comms incoming.

AI Summary

Masimo Corporation filed a DEFA14A, indicating it is providing soliciting material to shareholders. This filing is not a preliminary proxy statement but rather definitive material used to solicit votes or consents. The company is based in Irvine, CA, and operates in the electromedical apparatus industry.

Why It Matters

This filing is a standard regulatory step for public companies to communicate with shareholders regarding important corporate matters, such as annual meetings or specific proposals requiring a vote.

Risk Assessment

Risk Level: low — This is a routine regulatory filing (DEFA14A) and does not inherently present new risks to the company or its investors.

Key Players & Entities

• MASIMO CORP (company) — Registrant
• 949-297-7000 (phone_number) — Business Phone
• Irvine (location) — Business Address City
• DE (location) — State of Incorporation

FAQ

Key Financial Figures

• $130 — es our normal rate. We used to do about $130, $150 million of TI. TI is our definiti
• $150 million — normal rate. We used to do about $130, $150 million of TI. TI is our definition of true inc
• $400 million — our years, we’ve been doing about $400 million. And after last year, which was a recor
• $400 — after last year, which was a record at $400, Q1 we did $100 million. So we feel rea
• $100 million — , which was a record at $400, Q1 we did $100 million. So we feel really good about our marke
• $1.8 million — is our installed base has gone up from $1.8 million drivers back in 2019 to today, it&rsquo
• $2.6 million — back in 2019 to today, it’s about $2.6 million. So you’ve got almost a 50% incre
• $0.60 — ay. So that hopefully they’ll add $0.60 a share to our earnings and people will
• $1 billion — ntinue. I think we’re doing about $1 billion and about a $2,$3 billion space. Then
• $2 — o;re doing about $1 billion and about a $2,$3 billion space. Then the second way
• $3 billion — e doing about $1 billion and about a $2,$3 billion space. Then the second way for us is R
• $200 million — bon monoxide, ORi and we’re about $200 million of revenue with that, and that’s
• $11,000 — hat mortality had dropped by 70%, saved $11,000 a patient. But guess what every one of

Filing Documents

• ea0207770-defa14a_masimo.htm (DEFA14A) — 70KB
• image_001.jpg (GRAPHIC) — 3KB
• 0001213900-24-052164.txt ( ) — 75KB

From the Filing

MATERIAL PURSUANT TO 240.14A-12 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to §240.14a-12 MASIMO CORPORATION (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required. Fee paid previously with preliminary materials. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. Masimo Corporation (“Masimo”) participated in the Goldman Sachs Global Healthcare Conference held in Miami, Florida, on Wednesday, June 12, 2024 at 8:00 a.m. Eastern Time, which consisted of a question and answer session with Bennett Blau, Managing Director at Goldman Sachs. The following is a transcript of the presentation, portions of which may be deemed proxy soliciting materials. While effort has been made to provide an accurate transcription, there may be typographical mistakes, inaudible statements, errors, omissions or inaccuracies in the transcript. # # # Bennett Blau, Managing Director, Investment Banking, Goldman Sachs Are we coming through on the mic? All good, excellent. Well, look, we’re thrilled to have Joe, you here and Micah here from Masimo by way of background Bennett Blau, Managing Director with Goldman Sachs. So maybe we can just dive right on in Joe and Micah, as you guys kind of step back and think about performance of the core health care business today going forward. Can you maybe give us a sense of where that is today? How things are feeling just to help level set for the audience? Joe Kiani, Chairman of the Board, Chief Executive Officer, Masimo Corporation Yes. Absolutely. I think, you know, the health care business we’ve been picking up market share from the first day we launched. COVID accelerated that, and we’ve been picking up market share at two to three times our normal rate. We used to do about $130, $150 million of TI. TI is our definition of true incremental. So if you look at the contracts we signed with hospitals, which have average five years, we were doing about 130, 150 a year, and we would subtract any hospitals we would lose to come up with the true incremental. Well, the last three, four years, we’ve been doing about $400 million. And after last year, which was a record at $400, Q1 we did $100 million. So we feel really good about our market share gains. And I really believe that’s because of not just our measure-through-motion technology, still the best, and no one’s caught up with it. We’re the only company with Rainbow. We have 12 parameters that we can measure with a sensor on your finger, including hemoglobin and recently cleared ORi. We also have the only tetherless sensor, Radius PPG, and now the W1. So, hospitals are all just realizing we make a huge difference in the lives of their patients. So things are going well. Now post, at COVID, we had the huge bump where we had one year 400,000 drivers. Normally, we do about 200 to 240 thousand. And after that, we thought maybe next year, it’s going to go to 0, or very close to that, but it didn’t, we still are doing about 200 to 240 thousand drivers a year. And that’s going to continue. We feel good about the future, the second half. The drivers are coming back to our normal rate. So then we had the census problem, which seems to be over. Post COVID, there wasn’t enough nursing to have all the patients in the hospital. Also, some of the major insurance companies changed how they paid for people that were there two days or less, they turn them all into outpatients. So that pushed a lot of surgeries into the ambulatory surgery centers. That’s all settled down and we came into 2024 projecting only 0% census increase at our low number, 1% at our high number. And in Q1, couple of the private or public hospitals reported 3% census increase. And we’ve seen it, we see our sensor volumes be a lot healthier than it has been for a long time, except for the middle of COVID. So yes, we think the health care business is doing great. We’re excited about it. And especially with this separation, it’s going to allow us to really increase our earnings power. We’re targeting now 30% operating margin within five years.

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View this DEFA14A filing on SEC EDGAR