March 24 (Reuters) - Activist investor Politan Capital
Management, which last year won two seats on the board of
medical technology company Masimo Corp ( MASI ), is planning a
second proxy battle for two more seats, the Wall Street Journal
reported on Sunday.
Politan, which owns 9% of Masimo's ( MASI ) shares, plans to nominate
two director candidates to Masimo's ( MASI ) 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 ( A )
, the report said.
Politan Capital Management did not immediately respond
to a Reuters request for comment.
Quentin Koffey-owned Politan has long criticized Masimo's ( MASI )
capital allocation and board oversight and expressed particular
concern about last year's $1 billion purchase of consumer audio
products maker Sound United.
Masimo ( MASI ) said on Friday that it is evaluating a proposed
spinoff of its consumer business, which includes its consumer
health and audio products.
"Members of the board, including Quentin Koffey, have been a
key part of the discussions concerning the separation dating
back to January," a Masimo ( MASI ) spokesperson said when asked about
Politan's reported plans for a new proxy contest.
"The proposed separation is also consistent with the
company's prior commitment to reassess the consumer business
strategy and structure within three years of the Sound United
acquisition, as well as the wishes of shareholders."