• District of Columbia: Danaher has agreed to acquire medical device maker Masimo for almost $10 billion. Danaher will pay $180 per share in cash for Masimo, an almost 40% premium on its last stock price. According to Reuters/CNBC, Masimo recently became a "pure-play" med tech firm after selling its Sound United audio unit to Samsung. The company will now focus exclusively on its patient monitoring products, including pulse oximeters and noninvasive sensors. The deal is expected to close by the second half of 2026 and will be Danaher's biggest acquisition since it purchased Abcam, a protein consumables maker, for $5.7 billion in 2023. Once the acquisition is finalized, Masimo will operate as a stand-alone company within Danaher's Diagnostics segment. Other businesses in this segment include Radiometer, Leica Biosystems, Cepheid, and Beckman Coulter Diagnostics. (Thomas, Wall Street Journal, 2/17; Reuters/CNBC, 2/17)
• Illinois: Walgreens is planning to lay off roughly 600 workers, including 159 at a distribution center in Houston and 469 at the company's headquarters. "We're focused on becoming America's best retail pharmacy, beginning with improving the in-store experience for our customers and patients," said a company spokesperson. "To do this, we've made the difficult decision to simplify our organization in both the support center and with our field leadership to speed decision making and improve the service that millions of customers rely on every day. We have deep respect for our colleagues and greatly appreciate their contributions and are committed to supporting them throughout this transition." Over the last few years, Walgreens has struggled financially, with its market value dropping from over $100 billion in 2015 to below $8 billion in 2024. Last September, the company went private after nearly 100 years through a deal with private equity firm Sycamore Partners. Since Sycamore's acquisition, the company has split its business into five stand-alone entities: Walgreens, The Boots Group, Shields Health Solutions, CareCentrix, and VillageMD. (James, Retail Dive, 2/20)
• New Jersey: Merck will split its human health business into two different divisions. The first will focus on the company's cancer treatments, including the blockbuster drug Keytruda. The other division will focus on specialty, pharma, and infectious disease products, including the HPV vaccine Gardasil, diabetes medication Januvia, and lung-disease treatment Winrevair. According to the Wall Street Journal, the reorganization is part of Merck's ongoing efforts to prepare for a drop in Keytruda sales. Currently, Keytruda makes up almost half of Merck's total sales, but will lose its U.S. patent protection in 2028, which will allow other companies to sell their own versions of the drug. Currently, Merck is planning to launch over 20 new drugs or new uses for existing drugs over the next several years. "We are sharpening our focus on delivering innovative medicines for patients and creating long-term value for our stakeholders," said Merck CEO Robert Davis. (Loftus, Wall Street Journal, 2/23)

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