Danaher to Buy Medical Tech Firm Masimo for $9.9 Billion (2)

Danaher Corp. agreed to buy Masimo Corp., in a deal with an enterprise value of about $9.9 billion, allowing it to gain a foothold in the medical supply business.

Danaher will pay $180 per share in cash for Masimo, close to a 40% premium over the closing share price on Friday, according to a statement Tuesday. The transaction is expected to be completed in the second half of the year.

Shares of Masimo rose as much as 35% when markets opened in New York. They dropped 28% over the past 12 months through Friday’s close. Danaher fell as much ...