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Activist investor Politan Capital Management has already invested in Masimo Corporation (Nasdaq:Better) The board plans to launch another proxy fight for two more board seats at the pulse oximetry company, people said. WSJ report upon On Sunday, he named people close to him.
There is a possibility that he will compete for the board position after Masimo (Better) announced Friday by management authorized by the board of directors. To evaluate the proposed separation of the consumer businessthe company's stock soared 14% in after-hours trading.
Although it is politan, First reported 9% stake At Masimo (Better) supports a review of the company's consumer business in August 2022, but WSJ reports that activists' concern is that the company will not go ahead with the breakup.
The potential proxy fight comes after Politan chief investment officer Quentin Coffey and healthcare executive Michelle Brennan were added to Masimo (Better) after last year's board meeting proxy war together with the company.
Politan has felt excluded by Masimo CEO Joe Chiani since Coffey and another director joined the company's board, WSJ reported.
In a statement to the Journal, Masimo said he is committed to conducting a separation review and that Coffey has played a key role in the separation discussions.