\nOn June 2, 2023, Masimo Corporation (\u201cMasimo\u201d) issued the following press release in connection with Masimo\u2019s 2023 Annual Meeting of Stockholders, which corrects Masimo\u2019s press release issued earlier on June 2, 2023 (the \u201cPrior Release\u201d).<\/p>\n
\nThe Prior Release stated that stockholders do not need to vote for Ms. Brennan to add her to Masimo\u2019s Board of Directors. The following press release removes this statement and clarifies that Masimo\u2019s Board of Directors has committed to appoint Ms. Brennan to the Board if stockholders approve the expansion of the Board of Directors at the Company\u2019s 2023 Annual Meeting of Stockholders and Masimo\u2019s two director nominees, H Michael Cohen and Julie Shimer, Ph.D., are elected to the Board at the Annual Meeting.<\/p>\n
Masimo Board of Directors Authorizes Appointment of Michelle Brennan as Sixth Director Pending Stockholder Approval of Board Expansion and Election of Company Nominees<\/b><\/p>\n
Commitment to Appoint Politan Nominee as Director Reflects Board\u2019s Openness to Qualified and Experienced Perspectives<\/i><\/p>\n
Board Strongly Encourages Stockholders to Protect Their Investment by Voting FOR H Michael Cohen and Julie Shimer, Ph.D., and FOR Board Expansion on the WHITE Proxy Card<\/i><\/p>\n
\nIRVINE, Calif. \u2013 (BUSINESS WIRE) \u2013 June 2, 2023. The Board of Directors of Masimo Corporation (\u201cMasimo\u201d or the \u201cCompany\u201d) (Nasdaq: MASI) today announced its commitment to appoint Michelle Brennan as the Company\u2019s sixth director, pending stockholder approval of the proposal to expand the Board of Directors to seven and the election of the Company\u2019s highly qualified director nominees, H Michael Cohen and Julie Shimer, Ph.D. Ms. Brennan was nominated by Politan Capital Management (\u201cPolitan\u201d).<\/p>\n
\nStockholders should vote FOR Mr. Cohen and Dr. Shimer and FOR Board expansion on the WHITE proxy card. Should stockholders approve the Board expansion and elect the Company\u2019s nominees, Ms. Brennan would be appointed to the Board as a Class II director effective immediately following the Company\u2019s Annual Meeting of Stockholders to be held on June 26, 2023, subject to Ms. Brennan\u2019s willingness to serve. In the event Quentin Koffey, Politan\u2019s other director nominee, is elected to the Board at the Annual Meeting of Stockholders, Masimo\u2019s Board would not appoint Ms. Brennan to the Board following the meeting.<\/p>\n
\n\u201cUnlike Politan\u2019s other nominee, Quentin Koffey, who has a history of misstatement and distortion and no relevant experience, Ms. Brennan has operational and leadership experience in the medical devices industry at Johnson & Johnson, prior public company board service at Cardinal Health and Coupa Software,\u201d said Dr. Shimer, chair of the Board\u2019s Nominating Committee. \u201cThough Politan has not permitted us to interview Ms. Brennan after repeated requests, we conducted independent due diligence on her past leadership and board service experiences and feel she would bring a constructive and relevant perspective to the Board. As this action shows, the Board is open to experienced insight and diverse perspectives and will continue to seek out similarly qualified and independent candidates for the seventh Board seat.\u201d<\/p>\n
\nTo protect stockholders\u2019 investment and to ensure Masimo continues to create value, the Board encourages stockholders to vote FOR Masimo\u2019s highly qualified director nominees, H Michael Cohen and Julie Shimer, Ph.D.<\/p>\n
\nFind more information on why your vote is so important to the future of Masimo at www.KeepMasimoStrong.com<\/a><\/span>.<\/p>\n About Masimo<\/b><\/p>\n \nMasimo (Nasdaq: MASI) is a global technology company that develops and produces a wide array of industry-leading monitoring technologies, including innovative measurements, sensors, patient monitors, and automation and connectivity solutions. In addition, Masimo Consumer Audio is home to eight legendary audio brands, including Bowers & Wilkins\u00ae, Denon\u00ae, Marantz\u00ae, and Polk Audio\u00ae. Our mission is to improve life, improve patient outcomes and reduce the cost of care. Masimo SET\u00ae Measure-through Motion and Low Perfusion\u2122 pulse oximetry, introduced in 1995, has been shown in over 100 independent and objective studies to outperform other pulse oximetry technologies. Masimo SET\u00ae has also been shown to help clinicians reduce severe retinopathy of prematurity in neonates, improve CCHD screening in newborns, and, when used for continuous monitoring with Masimo Patient SafetyNet\u2122 in post-surgical wards, reduce rapid response team activations, ICU transfers, and costs. Masimo SET\u00ae is estimated to be used on more than 200 million patients in leading hospitals and other healthcare settings around the world, and is the primary pulse oximetry at 9 of the top 10 hospitals as ranked in the 2022-23 U.S. News and World Report Best Hospitals Honor Roll. In 2005, Masimo introduced rainbow\u00ae Pulse CO-Oximetry technology, allowing noninvasive and continuous monitoring of blood constituents that previously could only be measured invasively, including total hemoglobin (SpHb\u00ae), oxygen content (SpOC\u2122), carboxyhemoglobin (SpCO\u00ae), methemoglobin (SpMet\u00ae), Pleth Variability Index (PVi\u00ae), RPVi\u2122 (rainbow\u00ae PVi), and Oxygen Reserve Index (ORi\u2122). In 2013, Masimo introduced the Root\u00ae Patient Monitoring and Connectivity Platform, built from the ground up to be as flexible and expandable as possible to facilitate the addition of other Masimo and third-party monitoring technologies; key Masimo additions include Next Generation SedLine\u00ae Brain Function Monitoring, O3\u00ae Regional Oximetry, and ISA\u2122 Capnography with NomoLine\u00ae sampling lines. Masimo\u2019s family of continuous and spot-check monitoring Pulse CO-Oximeters\u00ae includes devices designed for use in a variety of clinical and non-clinical scenarios, including tetherless, wearable technology, such as Radius-7\u00ae, Radius PPG\u00ae and Radius VSM\u2122, portable devices like Rad-67\u00ae, fingertip pulse oximeters like MightySat\u00ae Rx, and devices available for use both in the hospital and at home, such as Rad-97\u00ae. Masimo hospital and home automation and connectivity solutions are centered around the Masimo Hospital Automation\u2122 platform, and include Iris\u00ae Gateway, iSirona\u2122, Patient SafetyNet, Replica\u00ae, Halo ION\u00ae, UniView\u00ae, UniView :60\u2122, and Masimo SafetyNet\u00ae. Its growing portfolio of health and wellness solutions includes Radius T\u00ae and Masimo W1\u2122 watch. Additional information about Masimo and its products may be found at www.masimo.com<\/a><\/span>. Published clinical studies on Masimo products can be found at www.masimo.com\/evidence\/featured-studies\/feature\/<\/a>.<\/span><\/p>\n \nORi and RPVi have not received FDA 510(k) clearance and are not available for sale in the United States. The use of the trademark Patient SafetyNet is under license from University HealthSystem Consortium.<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nAll statements other than statements of historical facts included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements including, in particular, certain statements regarding the Masimo Board\u2019s commitment to appoint Michelle Brennan as a sixth directors pending stockholder approval of the Board\u2019s expansion proposed for approval at the Company\u2019s 2023 Annual Meeting and the election of the Company\u2019s director nominees at such meeting. These forward-looking statements are based on management\u2019s current expectations and beliefs and are subject to uncertainties and factors, all of which are difficult to predict and many of which are beyond our control and could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks include those set forth in this press release and certain other factors discussed in the \u201cRisk Factors\u201d section of our most recent periodic reports filed with the Securities and Exchange Commission (\u201cSEC\u201d), including our most recent Form 10-K and Form 10-Q, all of which you may obtain for free on the SEC\u2019s website at www.sec.gov<\/a><\/span>. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.<\/p>\n Additional Information Regarding The Annual Meeting of Stockholders Currently Expected to Be Held on June 26, 2023 and Where to Find It<\/b><\/p>\n \nMasimo has filed a definitive proxy statement containing a form of WHITE proxy card with the SEC in connection with its solicitation of proxies for its 2023 Annual Meeting. MASIMO\u2019S SHAREHOLDERS ARE STRONGLY ENCOURAGED TO READ THE DEFINITIVE PROXY STATEMENT (AND ANY AMENDMENTS AND SUPPLEMENTS THERETO) AND ACCOMPANYING WHITE PROXY CARD AS THEY WILL CONTAIN OR CONTAIN IMPORTANT INFORMATION. Shareholders may obtain the proxy statement, any amendments or supplements to the proxy statement and other documents as and when filed by Masimo with the SEC without charge from the SEC\u2019s website at www.sec.gov<\/a>.<\/p>\n Certain Information Regarding Participants<\/b><\/p>\n \nMasimo, its directors and certain of its executive officers may be deemed to be participants in connection with the solicitation of proxies from Masimo\u2019s shareholders in connection with the matters to be considered at the 2023 Annual Meeting. Information regarding the ownership of Masimo\u2019s directors and executive officers in Masimo common shares is included in Masimo\u2019s definitive proxy statement, which can be found through the SEC\u2019s website at www.sec.gov<\/a>. To the extent holdings of Masimo\u2019s securities by directors or executive officers have changed since the amounts set forth in the definitive proxy statement, such changes have been or will be reflected on SEC filings filed by the applicable individuals on Forms 3, 4, and 5, which can be found through the SEC\u2019s website at www.sec.gov<\/a>. These documents can be obtained free of charge from the sources indicated above.<\/p>\n \nMasimo, SET, Signal Extraction Technology, Improving Patient Outcome and Reducing Cost of Care… by Taking Noninvasive Monitoring to New Sites and Applications, rainbow, SpHb, SpOC, SpCO, SpMet, PVI and ORI are trademarks or registered trademarks of Masimo Corporation.<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230602005104\/en\/<\/a><\/span><\/p>\n Investor Contact: Eli Kammerman Media Contact: Evan Lamb KEYWORDS:<\/b> United States North America California<\/p>\n INDUSTRY KEYWORDS:<\/b> Hospitals Health Technology Health Medical Devices<\/p>\n<\/p>\n
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(949) 297-7077
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ekammerman@masimo.com<\/a><\/p>\n
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(949) 396-3376
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elamb@masimo.com<\/a><\/p>\n
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