Politan Capital Management Archives - Medical Design Sourcing

Masimo loses board seats to activist investor Politan

Masimo (Nasdaq: MASI) + shareholders voted to oust two members of the device developer’s board after a heated battle by activist investor Politan Capital Management.

Masimo has yet to release official results, but acknowledged defeat today in a statement to MassDevice.

“We are disappointed to have lost the valuable contributions of two very qualified and capable board members,” Masimo spokesperson Evan Lamb emailed. “We are committed to continuing to innovate revolutionary products for patients and consumers worldwide.”

Politan Managing Partner and Chief Investment Officer Quentin Koffey and former Johnson & Johnson MedTech executive Michelle Brennan will join the Masimo board.

Politan Managing Partner and Chief Investment Officer Quentin Koffey [Photo courtesy of Politan Capital Management]“Michelle and I would like to thank our fellow shareholders for their support and en…

ISS backs Politan’s nominees in Masimo board battle; Device developer says CEO is the target

Politan Capital Management’s fight for two Masimo (Nasdaq: MASI) + board seats won a key endorsement from proxy advisory firm Institutional Shareholder Services (ISS), the activist investor said today.

ISS is recommending Masimo shareholders vote for Politan’s two board nominees: Politan Managing Partner and Chief Investment Officer Quentin Koffey and former Johnson & Johnson MedTech executive Michelle Brennan.

Politan, which owns around 9% of Masimo, is campaigning to replace Masimo-backed board incumbents H Michael Cohen and Julie Shimer at the June 26 annual meeting. Politan says change is needed to keep the device developer focused and rein in Masimo founder, CEO and Chair Joe Kiani.

Related: Masimo makes an offer in board election fight with Politan

In a letter to shareholders before Politan announced the ISS recommendation, Masimo said it feared Koffey would move to oust Kiani, citin…

Masimo makes an offer in board election fight with Politan

Masimo (Nasdaq: MASI) + today promised to accept one of the board members proposed by Politan Capital Management while taking more shots at the activist investor’s leader.

The device developer said it would appoint former Johnson & Johnson MedTech executive Michelle Brennan to the board if shareholders voted to expand it from five members to seven.

Politan nominated Brennan along with Politan Managing Partner and Chief Investment Officer Quentin Koffey for two board seats up for election at the annual shareholder meeting this month.

Masimo asked shareholders to vote for their director nominees — incumbents H Michael Cohen and Julie Shimer — and to support a non-binding, advisory vote on the board’s expansion.

Shimer — chair of the Masimo Board Nominating Committee — accused Koffey of having “a history of misstatement and distortion and no relevant experience” in a news release.…

Masimo management trades blows with activist investor Politan

The fight for two seats on the Masimo (Nasdaq: MASI) + board is heating up ahead of the medtech developer’s annual shareholder meeting next month.

Masimo management and activist investor Politan Capital Management released dueling presentations over the last 24 hours in support of their respective director nominees.

Previously: Masimo beats the Street in Q1 ahead of proxy fight; CEO discusses Apple mistrial

Politan Managing Partner and Chief Investment Officer Quentin Koffey yesterday called for “greater oversight in the boardroom [to] help Masimo realize its full potential.”

“Masimo’s broken corporate governance has resulted in a deeply discounted valuation and an inability to profitably innovate and grow,” he said in a news release. “Unfortunately, Masimo’s board fails to recognize that shareholder-driven change is needed, as demonstrated by the board’s hostile approac…