Masimo Corp., an Irvine medical device maker, outlined terms of its pending initial public offering on Friday.
Masimo, whose offerings include a device that measures a patient’s oxygen level, said it plans to offer 11.9 million shares at $16 to $18.
At the high end, Masimo would raise $214 million, up from an earlier estimate of $150 million.
Masimo hasn’t set a date for the offering.
Masimo’s main device, a pulse oximeter, attaches to a finger or toe and measures oxygen in critically ill adults or newborns. It cuts down on false alarms and other misreadings caused by patient motion or low blood flow, according to the company.
Piper Jaffray, Cowen and Co., Deutsche Bank Securities, Citigroup Inc. and Thomas Weisel LLC are underwriting the pending offering.
Masimo’s plans for the proceeds include sales and marketing, research and development, general corporate purposes and possibly a portion for buying or investing complementary companies, technologies and products.
Masimo’s applied to list its shares on the Nasdaq exchange under the ticker “MASI.”
