An activist investor says Masimo’s Joe Kiani has been removed from the board

Activist investor Politan Capital said it won two seats on the board of $6 billion medical device company Masimo on Thursday, the latest twist in a grueling two-year battle that is among the most expensive in history.

Masimo founder and chief executive Joe Kiani and another executive lost their seats to two candidates put forward by activist investor Quentin Koffey, according to a preliminary vote count by Politan’s advisers.

“While each of us is independent and brings our own unique perspectives, we are united in our enthusiasm for Masimo’s future,” Politan’s four executives, who now control the majority, said in a statement.

Masimo declined to comment. Kiani, who founded the medical device company 35 years ago, is likely to step down as CEO.