TolikoffPhotography Masimo Corporation ( NASDAQ: MASI ) disclosed Friday that it received unsolicited offers from potential acquirers for its consumer audio business amid ongoing discussions with a third party regarding a joint venture. The medical device maker previously announced a non-binding arrangement with a third party for the JV, for which it planned to sell a majority stake in its consumer audio and consumer health businesses. Despite the end of an exclusivity arrangement regarding the JV in mid-August, Masimo ( MASI ) said that the parties agreed to continue discussions without exclusivity.
In the wake of newly received interest, MASI added that the company “intends to commence discussions with the parties” through its financial advisor, Morgan Stanley. “Masimo’s Board of Directors will seek and evaluate the optimal value-maximizing structure of the separation of Masimo’s consumer business,” the company disclosed in a regulatory filing. Despite the ongoing strategic review, Masimo ( MASI ) said it plans to keep professional healthcare and telehealth/telemonitoring products in its portfolio.
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