Danaher Corp is nearing a $10 billion acquisition of medical technology company Masimo Corporation, according to the Financial Times. The deal, which could be announced as early as Tuesday, would value the California-based firm at a premium to its nearly $7 billion market capitalization as of Friday's close.

The acquisition would expand Danaher's presence in the medical device sector, where Masimo manufactures monitoring devices including pulse oximeters. The company had previously accused Apple Inc of infringing on its intellectual property related to these technologies. This potential deal represents another significant move in Danaher's aggressive dealmaking strategy, which has included notable acquisitions like the $21.4 billion purchase of Cytiva in 2020.

The healthcare industry has seen increased consolidation activity as companies seek to expand their technological capabilities and market reach. For Danaher, acquiring Masimo would strengthen its portfolio in patient monitoring and medical diagnostics, areas that have gained importance in the wake of the COVID-19 pandemic. The premium valuation suggests Danaher sees significant strategic value in Masimo's technology and market position.