Activist investor Politan plans second proxy battle at Masimo, WSJ reports

:Activist investor Politan Capital Administration, which final yr won two seats on the board of medical know-how firm Masimo Corp, is planning a second proxy wrestle for two more seats, the Wall Road Journal reported on Sunday.

Politan, which owns 9 per cent of Masimo’s shares, plans to nominate two director candidates to Masimo’s six-person board, the WSJ reported, citing a person accustomed to the topic.

The candidates are William Jellison, aged chief monetary officer of medical instrument maker Stryker, and Darlene Solomon, aged chief know-how officer of Agilent Applied sciences, the describe stated.

Politan Capital Administration did sooner or later respond to a Reuters quiz for comment.

Quentin Koffey-owned Politan has prolonged criticized Masimo’s capital allocation and board oversight and expressed particular ache about final yr’s $1 billion aquire of person audio products maker Sound United.

Masimo stated on Friday that it is evaluating a proposed spinoff of its person enterprise, which contains its person health and audio products.

“Participants of the board, along side Quentin Koffey, have been a key phase of the discussions in regards to the separation relationship reduction to January,” a Masimo spokesperson stated when asked about Politan’s reported plans for a recent proxy contest.

“The proposed separation is additionally in step with the firm’s prior dedication to reassess the person enterprise approach and structure inside three years of the Sound United acquisition, in addition to the wants of shareholders.”