Masimo Goes Public

Masimo Corp., an Irvine, Calif.-based provider of non-invasive patient monitoring products, raised approximately $202.65 million through its IPO. The company priced 11.92 million common shares at $17 per share $16-$18 range), for an initial market cap of nearly $898 million. Masimo will trade on the Nasdaq under ticker symbol MASI, while Piper Jaffray and Deutsche Bank Securities served as co-lead underwriters. It had raised around $88 million in total VC funding since 1992, including a 2005 infusion at a $190 million post-money valuation. Backers include Invesco Private Capital (8.6% pre-IPO stake), Steelpoint Capital Partners (5.6%), DSV Partners (5.4%) and Franklin Templeton Group (5.3%).