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  "docSlug": "jarvis-politan-capital-masimo-presentation-may-2023",
  "documentTitle": "Politan Capital Masimo Presentation May 2023",
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  "presentationDate": "2023-05-01 00:00:00",
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  "notes": "The slide uses a waterfall-style bridge to isolate the implied value of the consumer segment.",
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      "text": "($5.5 B)",
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      "text": "Shows Market's Persistent Concerns Over Capital Allocation & Strategy",
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      "text": "TEV today= $162.87/share x 55M diluted shares + $723M of net debt. As of May 22nd, 2023. Value of Masimo Healthcare= 22.5x $631M of FY25 EBITDA...",
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      "text": "Masimo TEV Today $9.7 B; Minus: Value of Masimo Healthcare $14.2 B; Minus: Value of Apple Litigation -?-; Minus: Value of Sound United $1.0 B",
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      "text": "Resulting in Substantial Negative Value Implied for Consumer Efforts Today",
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