Irvine medical device maker Masimo Corp.’s public offering debuted with a bang on Wednesday.
The company’s shares closed up 23% in one of the best first-day showings for a local public offering in the past few years.
Masimo’s shares opened at $19, 11% higher than what they priced at Tuesday night.
The company raised $202 million in its offering.
Masimo, which makes a device that measures a patient’s oxygen level, has an estimated market value of about $1 billion, according to IPOHome.
Irvine-based HireRight Inc., which does applicant background checks and drug screening for employers, also went public on Wednesday.
It didn’t fare as well, ending the day down 2%. Tuesday night, HireRight priced at the low end of its range of $15 to $17.
The company raised about $65 million. It has an estimated market value of close to $200 million.
