Masimo Corp Files Definitive Additional Materials

TL;DR

Masimo Corp dropped more proxy docs, no fee. Shareholders need to check it out.

AI Summary

Masimo Corporation filed a Definitive Additional Materials (DEFA14A) on September 6, 2024, related to its proxy statement. This filing does not involve a fee, indicating it's supplementary information rather than an initial filing or a fee-based action. The company is based in Irvine, CA, and operates in the electromedical apparatus industry.

Why It Matters

This filing provides supplementary information to Masimo Corporation's proxy statement, which is crucial for shareholders to understand company matters before voting on proposals.

Risk Assessment

Risk Level: low — This filing is a routine supplementary disclosure for a proxy statement and does not contain new financial information or significant corporate actions that would immediately impact stock price.

Key Players & Entities

• MASIMO CORP (company) — Registrant
• 0001213900-24-076258 (filing_id) — Accession Number
• 20240906 (date) — Filing Date
• Irvine, CA (location) — Company Business Address

FAQ

Key Financial Figures

• $60,000 — t in Q2. We expect those to be up above $60,000 a quarter. So the environment is very
• $400 million — n terms of revenue value, we did nearly $400 million. If you go back several years ago, we w
• $100 m — o back several years ago, we were doing $100 million, and we were targeting just to ge
• $100 million — and we were targeting just to get over $100 million. Now we’re trying to deliver anot
• $400 million — w we’re trying to deliver another $400 million this year. So first half, we delivered
• $234 million — this year. So first half, we delivered $234 million of net incremental new contracts. So we
• $200 m — revenue for rainbow last year is about $200 million, so we did about $40 million just
• $40 million — is about $200 million, so we did about $40 million just with ORi alone. So that’s on

Filing Documents

• ea0213704-defa14a_masimo.htm (DEFA14A) — 84KB
• image_001.jpg (GRAPHIC) — 3KB
• 0001213900-24-076258.txt ( ) — 90KB

From the Filing

ADDITIONAL MATERIALS 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” or the “Company”) participated in the 2024 Wells Fargo Healthcare Conference held in Boston, Massachusetts, on Wednesday, September 5, 2024 at 10:15 a.m. Eastern Time, which consisted of a question and answer session with Vikramjeet Singh Chopra, an analyst at Wells Fargo Securities, LLC. The following is a transcript of the session, 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. ### Vikramjeet Singh Chopra, Analyst, Research Division, Wells Fargo Securities, LLC Okay. Good morning, everyone. My name is Vik Chopra. I am part of the med-tech equity research team here at Wells Fargo. Pleased to introduce Micah Young, EVP and CFO for Masimo for the session. Micah, thank you for joining us today. Micah Young, Chief Financial Officer, Executive Vice President, Masimo Corporation Thank you, Vik. Vikramjeet Singh Chopra, Analyst, Research Division, Wells Fargo Securities, LLC So let’s start off with a few big picture questions. Maybe just talk about what’s changed in the macro front since you reported Q2 earnings in August? What’s gotten better? And has anything gotten worse? Micah Young, Chief Financial Officer, Executive Vice President, Masimo Corporation Yes. So I’ll start out with healthcare. In terms of the healthcare environment, I think we’re seeing consistently stable trends in the healthcare space. Census has been strong this year, especially coming out of the last quarter, and we also -- we’ve also seen an environment where we’re able to get in and install on a lot of our contracts this year than we were last year. So strong census growth and the ability to get into hospitals, place our equipment, our installed base and generate and drive revenue. And we’ve seen that success in the first half due to our strong contracting and census being better than it has been. We drove about 14% growth in consumables and service revenue in the first half of the year. And first half revenues for healthcare were close to 10%, just over 9%. On a year-to-date basis, we’re seeing though -- we feel like with the strong backlog we have, not only just strong contract backlog, but also strong order backlog. We’re seeing that going into the second half. We’re expecting growth of 10% growth. And that’s really with a down capital market or capital year for us. So in the first half, as I mentioned, consumables grew 14%, but capital is down 15%. And we expect that trend to kind of continue throughout the year, although we are seeing some improving driver numbers. We saw that in Q2. We expect those to be up above $60,000 a quarter. So the environment is very stable for healthcare. And I’d say the one that’s been more difficult for us has been the -- more on the consumer side. The consumer demand has been challenged with inflation and with also just a sluggish housing market, and that’s impacted that business this year and -- but we put out guidance, we feel good about the guidance we’ve put out for this year, and we’re driving hard to hit those numbers. Vikramjeet Singh Chopra, Analyst, Research Division, Wells Fargo Securities, LLC Got it. So with the recent concerns around macro weakness and the potential recession, are you expecting or have you seen any impact to your end market demand? Micah Young, Chief Financial Officer, Executive Vice President, Masimo Corporation Sorry, the first part of that... 2 Vikramjeet Singh Chopra, Analyst, Research Division, Wells Fargo Securities, LLC With the concerns around the macro weakness and the potential recession. Micah Young, Chief Financial

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