Danaher Corporation

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Danaher Corporation
Public
Traded as
ISINUS2358511028 Edit this on Wikidata
IndustryConglomerate
Founded1969; 51 years ago (1969) (as DMG) 1984; 36 years ago (1984) (as Danaher)
FounderMitchell Rales, Steven M. Rales Edit this on Wikidata
HeadquartersWashington, D.C., U.S.
Area served
Worldwide
Key people
Steven M. Rales, Chairman of the Board
Mitchell Rales, Chairman of the Executive Committee
Thomas P. Joyce, Jr., President & CEO
Daniel L. Comas, Executive VP & CFO
RevenueIncrease US$17.91 billion (2019)
Increase US$3.27 billion (2019)
Decrease US$2.49 billion (2017)
Total assetsIncrease US$46.65 billion (2017)
Total equityIncrease US$26.37 billion (2017)
Number of employees
71,000 (2019)
DivisionsList of divisions
Websitedanaher.com
Footnotes / references
[1]

Danaher Corporation is a globally diversified conglomerate with its headquarters in Washington, D.C., United States. The company designs, manufactures and markets professional, medical, industrial and commercial products and services. The company's 3 segments are "Life Sciences", "Diagnostics" and "Environmental & Applied Solutions".[1]

Danaher is ranked 160th on the Fortune 500.[2]

In 2019, Danaher was ranked by Forbes as one of the best employers for diversity.[3]

The company is named after Danaher Creek in Western Montana. It was fishing in this creek where the founders, brothers Steven M. Rales and Mitchell Rales, envisioned a new kind of manufacturing company dedicated to continuous improvement.[4] Danaher was one of the first companies in North America to adopt "Kaizen" principles to manufacturing,[5] which is a lean manufacturing Japanese philosophy of continuous improvement, and elimination of waste.

History[edit]

The company was organized in 1969 as a Massachusetts real estate investment trust under its former name DMG, Inc. In 1978, DMG, Inc. was reorganized as a Florida corporation and changed its name to Diversified Mortgage Investors, Inc. Eventually, the company adopted the name Danaher in 1984 and was reincorporated as a Delaware corporation.[1] In June 1986, Danaher purchased Chicago Pneumatic (CP), which had merged in July 1984 with a sister company, The Jacobs Manufacturing Co. (Jacobs), and which had purchased Matco Tools Corp. (MTC) in April 1981.

Danaher in June 1987 sold CP while retaining Jacobs, including its Matco Tools Division. Jacobs' name was changed to Matco Tools Corp. in November 1991, and the other divisions within Jacobs were established as separate operating companies. In January 1993, Danaher formed NMTC, Inc., which acquired a substantial portion of the assets of MTC, including the existing distributorship agreements of MTC.

Within two years of Danaher Corp.'s founding in 1984, Danaher Corp. acquired 12 companies as part of a strategy to enter the manufacturing business. Therefore, in 1986 Danaher added Qualitrol to its instrumentation unit.[6] The unit also included Gilbarco Veeder-Root's underground fuel storage sensors, Dynapar's motion sensors[7] and Qualitrol's pressure and temperature measurement instruments, used on the electrical transformer industry.[8]

The Danaher Motion group acquired Kollmorgen, of Radford, Virginia.[9]

1990–2000[edit]

1990 Danaher acquires Easco Hand Tools Inc.[10] 1991 Danaher is selected as exclusive supplier of handtools for Sears. 1994 Danaher acquires the tool company Armstrong- makers of tool brands Armstrong, Allen, and others. Since 1999 Danaher owns 100% of Hach company, broadening the portfolio of chemical, mainly water and wastewater, analytics also with the German company Lange.

2005–2006[edit]

UK-based West Instruments provides control and measurement instrumentation and services for the global industrial and process markets. German instrumentation manufacturer PMA was added to the Industrial Controls Group in 2005 and enhances the range of control and measurement instrumentation.

In July 2005, Danaher Announces Definitive Agreement To Acquire Leica Microsystems.[11] The company manufactures a broad range of products for numerous applications requiring microscopic imaging, measurement and analysis. It also offers management systems in the areas of Life Science including biotechnology and medicine, as well as the science of raw materials and industrial quality assurance.

2007–2008[edit]

In early 2007 Danaher acquired Australian Pathology Instrument and Engineering company Vision Systems Limited.[12] Also in 2007, Danaher made its largest acquisition to date, the purchase of Tektronix, Inc. for US$2.85 billion.[13][14]

2009–2010[edit]

In 2009 Danaher purchased the Analytical Technologies business unit of Canadian Life Sciences company MDS, Inc. for US$650 million.[15] In a separate, but related transaction, Danaher agreed with Life Technologies Corporation (Nasdaq: LIFE) to acquire the remaining 50% ownership position in AB SCIEX for US$450 million, leaving Danaher as outright owner of AB SCIEX and Molecular Devices. The aggregate purchase price for the combined transactions is $1.1 billion.[16]

2011–2012[edit]

In 2011, Danaher acquired Beckman Coulter[17] and sold Accu-sort to Datalogic.

In October 2012, Danaher Corporation and Cooper Industries agreed to sell their joint venture, Apex Tool Group, to Bain Capital for a fee of around $1.6 billion.[18] In December 2012 Danaher Corporation acquired Navman Wireless, a provider of on-demand fleet and asset management technology.[19]

2013–2014[edit]

In September 2014, Danaher Corp announced its intention to buy Nobel Biocare for $2.2 billion.[20] In October 2014, Danaher Corp announced it would be combining its communications unit with NetScout Systems.[21] The action was completed in July 2015[22]

2015–2016[edit]

In May 2015, Danaher Corp announced the acquisition of Pall for $13.8 billion,[23] which was completed in August 2015.[24]

In June 2016, Danaher spun off several subsidiaries, including Matco and AMMCO-COATS, to create Fortive.[25] In September of the same year, the company announced it would acquire Cepheid for $4 billion (including debt).[26]

In October 2016, Danaher Corporation acquired Phenomenex for $700 million to expand its life sciences space.[27]

2017–present[edit]

In October 2017, Danaher Corp announced the acquisition of scientific informatics company ID Business Solutions Ltd. (IDBS).[28] It was announced that IDBS would become part of Danaher's life sciences platform.[29]

In 2017, Danaher recorded $18.3 billion in revenue.[30]

In March 2018, the business announced it would acquire Integrated DNA Technologies for an undisclosed price.[31]

In July 2018, Danaher announced its intention to spin off its $2.8 billion Dental segment, into an independent publicly traded company. [32]

In October 2019, Danaher announced it has signed an agreement to sell its biomolecular characterization, chromatography hardware and resins, microcarriers and particle validation standards businesses to Sartorius AG for approximately $750 million. The combined revenue of the businesses was approximately $140 million in 2018.[33]

In December 2019, Danaher completed the corporate spin-off of Envista, its dental unit.[34]

On Monday, March 2, 2020, Dr. Stephen Hahn, the F.D.A.’s commissioner, said that the agency had taken actions to allow private labs and companies to begin making their own coronavirus tests in order to greatly expand the U.S. capacity to test for the virus. Dr. Hahn went on to note, "There will be — the estimates we’re getting from industry right now, by the end of this week, close to a million tests will be able to be performed."[35] The following morning, a spokeswoman for the U.S. Department of Health and Human Services noted that Dr. Hahn was referring to tests being produced by an outside manufacturer, Integrated DNA Technologies. IDT is a division of Danaher which was acquired in early 2019.[36]

In March 2020, Danaher acquired Cytiva, the biopharma business of the General Electric Life Sciences division, for $21.4 billion. The unit makes equipment for the research and manufacture of pharmaceuticals.[37]

Divisions[edit]

Other brands (Note: As of July 2016, some of these are now part of Fortive)

See also[edit]

References[edit]

  1. ^ a b c "Danaher Corporation 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ "Fortune 500: Danaher". Fortune.
  3. ^ "Danaher on the Forbes Best Employers for Diversity List". Forbes.
  4. ^ "The Danaher Story". Danaher.
  5. ^ "Fortive and Danaher, Steven and Mitchell Rales". Fortive.
  6. ^ "About the Company". Qualitrol. 2012. Retrieved 6 July 2012.
  7. ^ "Dynapar Motion Control Sensor Rotary Encoders & Resolvers". Dynapar. 2016. Archived from the original on 2016-08-09.
  8. ^ Dubovoj, Sina; Ingram, Frederick (2006). "Danaher Corporation". Resource Library CBS Interactive. Retrieved 12 June 2012.
  9. ^ "Danaher Corp, Form 8-K, Current Report, Filing Date Apr 1, 2003". secdatabase.com. Retrieved Mar 30, 2013.
  10. ^ "Danaher Acquires Easco Hand Tools". The New York Times. 1990-02-21. Retrieved April 26, 2019.
  11. ^ "Danaher Corp, Form 10-Q, Quarterly Report, Filing Date Jul 21, 2005" (PDF). secdatabase.com. Retrieved Mar 30, 2013.
  12. ^ "Danaher Corp, Form 10-Q, Quarterly Report, Filing Date Oct 19, 2006". secdatabase.com. Retrieved Mar 30, 2013.
  13. ^ "Danaher Corp, Form 8-K, Current Report, Filing Date Nov 21, 2007". secdatabase.com. Retrieved Mar 30, 2013.
  14. ^ "Danaher to Buy Tektronix for $2.85 Billion". The New York Times. 2007-10-16. ISSN 0362-4331. Retrieved 2015-04-28.
  15. ^ "Danaher Corp, Form 10-K, Annual Report, Filing Date Feb 24, 2010" (PDF). secdatabase.com. Retrieved Mar 29, 2013.
  16. ^ [1][dead link]
  17. ^ "Danaher Corp, Form 8-K/A, Filing Date Aug 10, 2011". secdatabase.com. Retrieved Mar 29, 2013.
  18. ^ "Deals of the day -- mergers and acquisitions". Reuters. Reuters. 10 October 2012.
  19. ^ "Danaher Corp Acquires Navman Wireless". Reuters. 29 Jan 2013.
  20. ^ "Danaher to buy Nobel Biocare for $2.2 billion". Reuters. 15 September 2014.
  21. ^ Danaher to combine communications unit with NetScout. Reuters, 14 October 2014
  22. ^ "NetScout Systems, Inc. (NASDAQ: NTCT) has completed the acquisition of Danaher Corporation's (NYSE: DHR) Communications Business. - NetScout.com". Retrieved 24 March 2016.
  23. ^ "Danaher to Acquire Pall for $13.6 Billion and Split Into Two". The New York Times. 2015-05-15. Retrieved April 26, 2019.
  24. ^ "Danaher Completes Acquisition Of Pall Corporation". Pall. Retrieved April 26, 2019.
  25. ^ Zacks Equity Research. "Danaher Completes Fortive Spin-Off, Trading to Begin Today". Yahoo Finance. Retrieved 5 July 2016.
  26. ^ "Danaher to Acquire Cepheid for $4B". September 6, 2016.
  27. ^ "Danaher Completes Acquisition Of Phenomenex". biopharma-reporter.com. Retrieved 6 November 2016.
  28. ^ "Danaher picks up U.K. data analytics player to boost drug development offerings". FierceBioTech. 2017-10-30. Retrieved 2017-12-01.
  29. ^ "Danaher to Buy U.K. Drug R&D Software Firm ID Business Solutions". Bloomberg.com. 2017-10-30. Retrieved 2017-12-01.
  30. ^ Maake, Katishi (2019-01-07). "Glenstone Foundation gobbles up more property near its museum". Washington Business Journal. Retrieved 2019-01-09.
  31. ^ "Danaher to Acquire Integrated DNA Technologies". March 9, 2018.
  32. ^ "Danaher Announces Plan To Spin Off Dental Business Into An Independent, Publicly Traded Company - Jul 19, 2018". Danaher Corporation Investors.
  33. ^ Hargreaves, Ben (2019-10-22). "https://www.biopharma-reporter.com/Article/2019/10/22/Sartorius-set-to-acquire-Danaher-businesses". Biopharma Reporter. Retrieved 2019-10-29. External link in |title= (help)
  34. ^ "Danaher Announces Final Results Of Envista Exchange Offer" (Press release). PR Newswire. December 18, 2019.
  35. ^ https://www.nytimes.com/2020/03/03/health/coronavirus-tests-fda.html#commentsContainer
  36. ^ https://www.idtdna.com/pages/about/leadership
  37. ^ "Danaher Completes Acquisition Of The Biopharma Business Of General Electric Life Sciences; Business Will Be Called Cytiva" (Press release). PR Newswire. March 31, 2020.
  38. ^ "Danaher Announces Definitive Agreement to Acquire EskoArtwork for $470 Million - January 20, 2011". Danaher Corporation Investors.
  39. ^ a b "Danaher to Acquire Beckman Coulter, Inc. for $83.50 per share or $6.8 Billion - February 7, 2011". Danaher Corporation Investors.
  40. ^ "Danaher Announces Definitive Agreement to Acquire Leica Microsystems - Jul 1, 2005". Danaher Corporation Investors.
  41. ^ "Danaher To Acquire Cepheid For $53.00 Per Share, Or Approximately $4 Billion - Sep 6, 2016". Danaher Corporation Investors.
  42. ^ "Danaher Corporation Submits a Tender Offer for the Shares of Radiometer A/S and Announces Conference Call - Dec 11, 2003". Danaher Corporation Investors.
  43. ^ "Dynapar Industrial Encoders & Resolvers". dynapar.com. 2016. Archived from the original on 2012-05-27.

External links[edit]