Masimo Corporation (NASDAQ: MASI) has recently announced significant developments, including the commencement of litigation against Politan Capital Management LP and the postponement of its 2024 annual meeting of stockholders. The company has filed a complaint seeking an injunction to compel Politan to correct material misstatements and omissions in its proxy materials.
The annual meeting, originally scheduled for a previous date, has been rescheduled to September 19, 2024, at 2:00 p.m., Pacific Daylight Time. This decision was made to accommodate a request by Politan to set a new record date for the annual meeting, ensuring that stockholders have ample time to review revised proxy materials. The new record date for the annual meeting has been set as August 12, 2024.
As a result of these developments, Masimo will be filing a revised proxy statement for the annual meeting with the Securities and Exchange Commission, reflecting the rescheduled meeting date and the new record date. All stockholders entitled to vote as of the new record date will receive a new notice of the annual meeting and proxy card. It's important to note that any votes previously submitted by Masimo stockholders will not be counted, and all stockholders will need to resubmit their votes, even if they have previously voted.
Masimo's commitment to providing accurate and transparent information to its stockholders is evident in these actions, as the company seeks to ensure that the voting process is fair and fully informed. More details regarding the importance of stockholder votes can be found on the website www.protectmasimosfuture.com.
Masimo Corporation, a global leader in noninvasive monitoring technologies and audio products, has a robust portfolio of industry-leading monitoring technologies, including innovative measurements, sensors, patient monitors, and automation and connectivity solutions. Additionally, Masimo Consumer Audio is home to eight legendary audio brands, further showcasing the company's diverse product offerings.
Masimo's mission to improve life, patient outcomes, and reduce the cost of care is underscored by its pioneering technologies, such as Masimo SET® pulse oximetry, which has been shown in over 100 independent and objective studies to outperform other pulse oximetry technologies. The company's impact on healthcare is further evidenced by its technologies' role in reducing severe retinopathy of prematurity in neonates, improving critical congenital heart disease screening in newborns, and contributing to the reduction of rapid response team activations, ICU transfers, and costs when used for continuous monitoring in post-surgical wards.
The company's continuous and spot-check monitoring pulse co-oximeters® are designed for use in various clinical and non-clinical scenarios, catering to both hospital and home settings. Masimo's dedication to innovation is evident in its continual expansion and enhancement of its monitoring and connectivity solutions, as well as its growing portfolio of health and wellness solutions.
Masimo's commitment to advancing medical technology and improving patient care is exemplified through its extensive range of products and its ongoing efforts to ensure that stockholders are well-informed and able to participate in the company's governance processes.
For further information about Masimo and its products, please visit www.masimo.com. Following these announcements, the company's shares moved -2.8%, and are now trading at a price of $108.88. Check out the company's full 8-K submission here.
