Name: Katie Szyman
New title: CEO, Masimo
Previous title: Worldwide president of advanced patient monitoring, BD
Masimo, the patient monitoring company known for its pulse oximetry devices, said Tuesday it has hired Katie Szyman as its next CEO.
Szyman is worldwide president of advanced patient monitoring at BD and led Edwards Lifesciences’ critical care business for more than a decade before BD bought the group for $4.2 billion in September.
Szyman will step into the role vacated by Masimo founder Joe Kiani, who left the company in September after losing a two-year battle with activist investor Politan Capital Management for control of the board.
At Edwards, Szyman is credited with accelerating revenue growth in the critical care group by shifting to artificial intelligence-based solutions to aid clinicians in decision-making. Before joining Edwards, she spent more than 20 years at Medtronic, where she held leadership positions in corporate strategy, business development and finance and was worldwide president of both the endovascular and diabetes business units.
Szyman’s appointment to lead Masimo “fits like a glove,” BTIG analyst Marie Thibault wrote to clients Tuesday. Szyman is a “forward-thinking and talented executive,” Thibault said.
Masimo interim CEO Michelle Brennan said Szyman will work with the board to prioritize the company’s product pipeline and develop the strategy for bringing its new patient monitoring platform to market.
“Her advanced patient monitoring category knowledge and deep existing relationships within the industry position her to make an immediate impact,” Brennan said in the company’s statement.
Brennan will move to a new position as chairman of the board, and Politan Managing Partner Quentin Koffey will become vice chairman.
All of the appointments are effective Feb. 12.
The Masimo board plans to provide updates soon on its strategic review of alternatives for both the consumer audio and consumer healthcare businesses, according to the statement. The consumer audio business includes home entertainment brands such as Bowers & Wilkins, Denon, Marantz and Polk Audio.
Masimo also said it continues to address its cost structure to improve gross margin performance. In November, the company said it would lay off 75 employees in Irvine, California, where it is based.
