Joe Kiani
Founder, Chairman,
Chief Executive
Masimo Corp.
Irvine
Born in Shiraz, Iran
Age: 54
Lives in Laguna Niguel
WHY: Founded patient monitoring company in 1989 that last year reported net income of $193.5 million on sales of $858.3 million. Shares up six-fold in last five years and now has $6.9 billion market cap. Business- and politically savvy entrepreneur behind Patient Safety Movement, which involves sharing data as way to stop hospital-related patient deaths.
HOW: Founded Masimo with partner in garage in 1989. Attracted more than $80 million in venture capital before taking company public in 2007, offering raised $233 million.
RECENT: Working to make affordable monitoring device that patients can take home for use with prescriptions.
FAST FACT: Owns 5.5 million shares, or 10% of Masimo stock, worth an estimated $710 million as of press time.
QUOTABLE: Told investors on a February conference call why prescription-monitoring device is important, and a potential game-changer for company: “There was a young man, Parker, 21 years old, 6’4” [who] goes in for a tonsillectomy [and] was given opioids to go home with for pain. He took half of the pill and went to bed and never woke up … So, looking at the consumer side of things, we think if we can make it at a price that keeps us on our normal margin, but makes us affordable and we have this new revolutionary design … We think it can be done, it can be done really in a cool, cost-effective way.”
PERSONAL: Came to U.S. with family at age 9; graduated high school at age 15. Tennis fan with suite at BNP Paribas Open in Indian Wells; company a sponsor of tournament. Wife, Sarah; two daughters, one son. CHOC board. San Diego State University grad. Holds more than 100 patents related to signal processing, sensors and patient monitoring.
