Masimo Corp., a key player in remote patient monitoring, has reported a cyber attack that has led to a slowdown in its manufacturing processes. The company disclosed the incident alongside its quarterly earnings report, explaining that while the investigation remains ongoing, it believes that the intrusion has not impacted its cloud-based hospital data systems. Furthermore, there is currently no evidence to suggest that employee or patient data has been compromised.
On April 27, Masimo identified unauthorized activity within its on-premise network, prompting immediate action to isolate affected systems. As a consequence, the company stated that certain manufacturing facilities have been operating below normal levels, resulting in delays in processing, fulfilling, and shipping customer orders. The company is actively working to restore operations and mitigate the incident’s impacts.
Despite the cyber attack, Masimo’s CEO Katie Szyman expressed confidence that the company’s financial guidance for this year would remain largely intact. However, tariffs imposed on imported goods have prompted a downward revision in operating profits, with projections adjusted from a previous range of $420 million to $436 million down to $383 million to $403 million.
For the first quarter of 2025, Masimo reported revenue of $372 million, reflecting a 10% increase. As part of its restructuring efforts, the company is also set to sell its Sound United business to Harman International for $350 million in cash, aiming to refocus on its core healthcare operations. This strategic move was described by Politan co-founder Quentin Koffey, now vice chairman of Masimo’s board, as a significant milestone to accelerate revenue growth with maintained margins.