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Life sciences and diagnostics giant Danaher agreed to acquire med tech company Masimo in a $9.9 billion deal, the companies announced Tuesday.

The big picture: The stage is set for a frenzied year in med tech M&A.

By the numbers: Danaher will use a mix of cash and debt buy all outstanding Masimo shares for $180 each, a nearly 40% premium to its closing stock price Friday.

Danaher expects Masimo to be accretive to adjusted diluted net earnings per common share by 15 cents to 20 cents in the first full year and approximately 70 cents in the fifth full year following the acquisition.

Masimo projects more than $530 million in EBITDA in 2027.

Zoom in: Masimo makes pulse oximetry devices and other monitoring devices, which Danaher says is an "exceptional strategic fit."

Irvine, Calif.-based Masimo will operate as a standalone company within Danaher's diagnostics unit, alongside Radiometer, Leica Biosystems, Cepheid and Beckman Coulter Diagnostics.

Inside the room: Citi and Kirkland & Ellis advised Danaher.

What's next: The deal is expected to close in the second half of this year.

Danaher to buy Masimo in $9.9B med tech deal

The move expands its medical device portfolio.

an illustration of a caduceus surrounded by cutouts of money and colorful shapes 

Life sciences and diagnostics giant Danaher agreed to acquire med tech company Masimo in a $9.9 billion deal, the companies <a class="gtmContentClick" data-vars-link-text="announced" data-vars-click-url="https://www.prnewswire.com/news-releases/danaher-to-acquire-masimo-corporation-302689266.html" data-vars-content-id="45b87112-964c-4a82-91ec-753c2a5bef81" data-vars-headline="Danaher to buy Masimo in $9.9B med tech deal" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.prnewswire.com/news-releases/danaher-to-acquire-masimo-corporation-302689266.html" target="_blank">announced</a> Tuesday.The big picture: The stage is set for a <a class="gtmContentClick" data-vars-link-text="frenzied year" data-vars-click-url="https://www.axios.com/pro/health-tech-deals/2026/01/20/medtech-ai-health-tech-mergers" data-vars-content-id="45b87112-964c-4a82-91ec-753c2a5bef81" data-vars-headline="Danaher to buy Masimo in $9.9B med tech deal" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/health-tech-deals/2026/01/20/medtech-ai-health-tech-mergers" target="_self">frenzied year</a> in med tech M&amp;A.

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Danaher to buy Masimo in $9.9B med tech deal

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