Feb 16 (Reuters) - Life sciences firm Danaher ( DHR ) is closing in on a nearly $10 billion deal to acquire pulse oximeter maker Masimo ( MASI ), the Financial Times ​reported on Monday, citing sources.

Danaher ( DHR ) and ‌Masimo did not immediately respond to Reuters' requests for comment.

Masimo ( MASI ), which ⁠has been in a long legal battle with ⁠iPhone maker Apple ( AAPL ) over patents, has a ‌market capitalization ‌of about $7 billion, while Danaher ( DHR ) is valued at over $150 billion, according ​to Reuters calculations.

A federal jury ‌in California in November ruled that Apple ( AAPL ) owed Masimo ( MASI ) $634 million for infringing a patent ​covering blood-oxygen reading technology.

A ​deal with ‌Masimo would be Danaher's ( DHR ) first major acquisition since its $5.7 billion purchase of protein consumables manufacturer Abcam ⁠in 2023.

Acquiring Masimo ( MASI ) would allow Danaher ( DHR ), which ⁠provides tools and technologies that help pharmaceutical companies develop and make drugs, to expand into patient-monitoring products such as oximeters.

Masimo's ( MASI ) shares have fallen more than 57% ⁠since ‌their peak in November 2021.

Masimo ( MASI ) made ‌a $1-billion acquisition of audio products maker Sound United in ⁠early 2022, leading to a bitter proxy battle with activist hedge fund Politan Capital Management, and ended with the ouster of founder Joe Kiani as CEO in 2024. Sound United was sold to Samsung's Harman last year for $350 ​million.

Danaher's ( DHR ) deal for Masimo ( MASI ) could be unveiled as early as Tuesday, the FT report added.