Elliott Strikes Dexcom Board Settlement After Taking Stake

Activist investor Elliott Investment Management has taken a stake in medical device firm Dexcom Inc. and struck a settlement that will put two independent directors on the board, according to a statement from the company.

Dexcom has been “constructively” engaged with Elliott for several months on the company’s strategy and plans, Chief Executive Officer Jake Leach said in a phone interview. The deal stipulates the two will collaborate to appoint two new directors who will add board expertise in medical technology and operations to help the company scale. Its technology committee also will change its focus to operations and innovation, he said.