A month ahead of Masimo’s annual meeting, activist investor Politan is laying out its case to shareholders to assume board control.
Masimo activist Politan laid out its renewed case for change in a push to win two more board seats at the medical device company.
"Fundamentally, what this upcoming vote is about is simple: fixing the prolonged and deliberate refusal by Masimo to permit independent oversight," Koffey wrote in the latest letter. But the matter is hardly resolved. Politan said in its Wednesday letter that Kiani dissolved the spinoff's special committee, helmed by Koffey, after it"rejected or modified many" of the CEO's demands. For the new company, Kiani had been seeking Masimo's name, its corporate headquarters and jet as well as a $150 million cash infusion, according to filings from both the activist and the company.
"Politan wants a separation done right," Koffey wrote in Wednesday's letter."We have been asking for a strategic review of the Sound United business and consumer healthcare spending for over 18 months."
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