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Masimo Sets IPO Terms

Masimo Corp., an Irvine, Calif.-based provider of non-invasive patient monitoring products, has set its IPO terms to around 11.92 million common shares being offered at between $16 and $18 per share. It would have an initial market cap of around $950 million, if it were to price at the high end of its range. The company plans to trade on the Nasdaq under ticker symbol MASI, with Piper Jaffray and Deutsche Bank Securities serving as co-lead underwriters. Masimo has 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%).