Irvine, Calif.-based Masimo acquired 100% of Lidco, a provider of advanced hemodynamic monitoring tech, on Feb. 2, 2021. Lidco was de-listed from the AIM submarket of the London Stock Exchange on Jan. 11 and will be re-registered by Masimo as a UK-based private subsidiary, according to a news release.
Masimo and Lidco confirmed in a November announcement that they agreed on the terms of a recommended cash offer to be made by Masimo for the entire issued and to be issued share capital of Lidco, totaling the $40.1 million (£31.1 million) as shares are valued at about 15¢ (£0.12) per share.With a market capitalization of about $12 billion, according to the November announcement, Masimo is acquiring in Lidco a hemodynamic monitoring device maker that targets critical care and high-risk surgical patients with primary markets in the U.S. and the United Kingdom, plus certain markets across continental Europe, China and Japan.
Lidco manufactures and sells equipment for measuring metrics that include cardiac output, stroke volume and systematic vascular resistance. They also cover blood monitoring, intravenous fluid monitoring and vasoactive support. Additionally, the company distributes several complementary third-party products.
“Masimo shares Lidco’s commitment to providing innovative, best-in-class monitoring solutions to support evidence-based clinical decisions to enhance patient safety and outcomes,” Masimo chair & CEO Joe Kiani said back in November. I believe the complementary strategic fit between our respective technologies and businesses will enhance the prospects for Lidco’s customers as part of Masimo Corporation’s global operations.”