Masimo starts public life with sharp rise:
This article was originally published in Clinica
Executive Summary
Pulse oximetry company Masimo has closed its initial public offering of around 12 million shares and began life on the Nasdaq on August 8. The Irvine, California-based firm saw its share price increase by 9% on the first day of trading to $20.90 per share from $19 per share. The company has sustained this high rise since, as shares were priced at $21 at the close of markets on August 13. Masimo intends to use proceeds from the IPO to further commercialisation of its Masimo SET and Masimo Rainbow SET products - monitoring technologies which the company claims are proven to allow clinicians to accurately monitor blood oxygen saturation in critical situations by clinical and laboratory studies.
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