Masimo Corp shareholders elected both director candidates proposed by veteran activist investor Quentin Koffey's hedge fund Politan Capital Management, in one of the most contentious boardroom battles of the year.

Masimo (NASDAQ:MASI) rose 3% after activist investor Politan Capital Management won two board seats after a bitter proxy battle with the medical device maker. Politan nominees  Darlene Solomon and William Jellison were elected to the board at a holder vote on Thursday,

"We are united in our enthusiasm for Masimo’s future as a leading, innovation-focused growth company," the newest board members said.

Masimo’s long-running proxy fight has come to a close, at least for now. | Masimo’s long-running proxy fight has come to a close, at least for now. Politan’s gains double the two board seats it claimed last year.

Politan Capital has been found in contempt of court over a press release it published amid an attempted takeover of Masimo’s board.