Irvine-Based Masimo Completes Acquisition of Sound United
Tuesday, April 12, 2022
Irvine-based medical technology company Masimo announced on Apr. 12 that it has completed its acquisition of consumer electronics company Sound United.
Sound United — which operates brands like Marantz, Bowers & Wilkins, and Denon — will operate as a division of Masimo under its existing leadership from its Carlsbad, CA headquarters. The combined company will develop consumer-facing healthcare products, officials said.
“We are thrilled to add Sound United’s premium technology, established consumer channels, and well-known brands to Masimo’s broad portfolio of hospital and home medical technology solutions,” Masimo’s Founder and CEO Joe Kiani said in a statement.
“We believe Masimo’s expertise in advanced signal processing, biosensing, and photonics technologies combined with Sound United’s audio and home automation technologies will bring about natural and yet non-intuitive solutions to people around the globe in home and in hospitals.”
Following the announcement, Masimo’s shares fell 0.3% to $139.26 a piece for a $7.7 billion market cap.
Financial guidance associated with the acquisition will be released during the company’s first-quarter earnings call on May 3.
Category: Business News, Medical Technology, Irvine