(Reuters) – Activist investor Politan Capital Management, which last year won two seats on the board of medical technology company Masimo Corp, is planning a second proxy battle for two more seats, the Wall Street Journal reported on Sunday.
Politan, which owns 9% of Masimo’s shares, plans to nominate two director candidates to Masimo’s six-person board, the WSJ reported, citing a person familiar with the matter.
The candidates are William Jellison, former chief financial officer of medical device maker Stryker, and Darlene Solomon, former chief technology officer of Agilent Technologies, the report said.
Masimo and Politan Capital Management did not immediately respond to a Reuters request for comment.
Quentin Koffey-owned Politan has long criticized Masimo’s capital allocation and board oversight and expressed particular concern about last year’s $1 billion purchase of consumer audio device maker Sound United.
Irvine, California-based Masimo has been making headlines since it sued Apple in October, alleging the iPhone maker stole trade secrets related to technology for reading blood-oxygen levels in its watches and infringed Masimo patents.
Apple said in January it would remove a blood oxygen monitoring feature from two flagship Apple Watch models in the U.S. as it fights the legal battle over patents on the technology behind the feature.
(Reporting by Chandni Shah in Bengaluru; Editing by Kim Coghill and Jamie Freed)
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