“We expect Masimo to be immediately accretive, both strategically and to adjusted EPS.”

In context

“uarter was 57.6%. Our adjusted operating profit margin of 27.1% was down 20 basis points as lower respiratory revenue year-over-year more than offset the favorable impacts of higher non-respiratory volume and disciplined cost management. Adjusted diluted net earnings per common share of $1.94 were up approximately 8% year-over-year. We generated $1.3 billion of free cash flow in the quarter and $2.4 billion in the first half of the year, resulting in a year-to-date free cash flow to net income conversion ratio of 124%, further underwriting the differentiated quality of our earnings. We also made significant progress on our capital deployment priorities during the quarter and into July. On the M&A front, we closed our acquisition of Masimo in early June, ahead of our initial expectations. We expect Masimo to be immediately accretive, both strategically and to adjusted EPS. The business delivered high single-digit revenue growth in the first half of the year and is off to a great start as part of Danaher, including an FDA 510(k) clearance for an AI-enabled opioid-induced respiratory depression detection solution. In fact, the team has already completed their first operating review, where they further validated opportunities to drive productivity and efficiency improvement, capture customer account synergies, and strengthen the innovation process using the Danaher Business System Launch Excellence tool. Additionally, Leica Biosystems announced the pending acquisition of StatLab, a leading manufacturer of consumables across the anatomical pathology workflow. StatLab has built a strong reputation with customers for its quality, innovation, and customer intimac”