Danaher Statistics: Danaher gets its name from the South Fork Flathead River in western Montana. Danaher has been known for their innovative mindset and fast flow of innovations for many decades. The root word Dana is from the Celtic word Dana.
Danaher Corporation was formed in 1984. At first, it consisted of several discrete manufacturing businesses. It became one of the first North American companies that adopt Kaizen, the Japanese business model of continuous improvement. The Danaher Business System (DBS), was born from this practice. It continues to guide our culture and the five Core Values of Danaher.
Danaher’s businesses were organized around strategic platforms, which gave them competitive advantages in large markets worldwide. Danaher grew to be a leader in the industries that defined it over the next decade, starting with water in 1998. Then came product identification (2001), diagnostics (2006), and life sciences (2009).
Overview:
Danaher is a global innovator in science and technology. They are committed to solving complex problems and improving the quality of life for their customers around the globe. The company acts as a medical firm that designs, produces, and markets professional and industrial products and services. It operates in three main segments: Diagnostics, Life Sciences, and Environmental & Applied Solutions. The Life Sciences segment includes a wide range of tools for scientists to investigate the fundamental building blocks of life. These include genes, proteins, metabolites, and cells. This allows them to discover the causes of disease and to test new vaccines and treatments.
Diagnostics is comprised of diagnostic instruments, reagents consumables, software, and services that hospitals and physicians use to diagnose diseases and make treatment decisions. The Environmental & Applied Solution segment provides products and services to protect precious resources and ensure that water and food supplies are safe. The company’s success lies in the Danaher Business System, a collection of tools that enable continuous improvement in growth, lean, and leadership. They help people realize their potential through the creativity of their employees, the power and impact of DBS, and meaningful technologies. The company was founded in 1984 by Steven M. Rales & Mitchell P. Rales. It is based in Washington, DC.
Danaher Business System:
Danaher has a proven process for getting success. This system is known as the Danaher Business System or DBS. It drives all aspects of the company’s culture. DBS helps them to plan, measure their execution, and offer options for improvement.
In the middle of the 1980s, a Danaher company that was operating in the manufacturing sector faced increasing competition and decided to improve its operations using the then-new principles associated with lean manufacturing. The initiative had a huge success, strengthening the operating company’s leadership and bringing forth the Danaher Business System.
Danaher’s core values drive the DBS engine to propel the company through a never-ending circle of change and improvement. The DBS engine employs exceptional PEOPLE who develop extraordinary PLANS using world-class technology to create sustainable PROCESSES. The result is superior performance. Outstanding performance and high expectations attract outstanding people who keep the cycle going. A simple philosophy that guides all efforts is based on four customer-facing priorities: Cost, Delivery, Quality, and Innovation.
Government Contracts:
While the Company received a substantial amount of its revenue from customers other than governmental entities, in 2021, each segment of Danaher has agreements related to the sale to government entities. Therefore, the Company is subjected to numerous statutes and regulations applicable to companies doing business in government. Danaher’s business cannot be renegotiated or terminated at the request of a government entity.
Danaher Office Locations:
Morocco, India, Singapore, Japan, South Korea, United Arab Emirates, Hong Kong, Saudi Arabia, Turkey, Germany, The UK, Italy, Ireland, Belgium, Spain, Czech Republic, Sweden, Austria, Mexico, Iowa, Michigan, Virginia, Illinois, Canada, Washington, New Jersey, Minnesota, California, Cincinnati, New York, North Carolina, Australia, Chile, Brazil, Argentina, and other locations.
Leading 10 U.S. companies based on medical device revenue in 2020 (in billion U.S. dollars)
Goodwill and Other Intangible Assets:
Acquisition of businesses results in Danaher’s acquisitions of goodwill and other tangible assets. Accounting standards regarding business combinations do not allow for goodwill to be amortized. However, certain identifiable and finite-lived intangible assets such as customer relationships or acquired technology are amortized over their expected useful lives. Intangible assets have an indefinite life and are not amortized. In-process Research and Development (IPRD) is initially capitalized at fair value.
When the IPR&D projects are completed, the asset becomes a finite-lived asset. It is then amortized over its expected useful life. An impairment loss equal to the estimated value of an IPR&D asset is recorded if the project is abandoned. If circumstances or other changes indicate that the carrying amounts of intangible assets or goodwill may not be recoverable, the Company will review them for impairment. The Company conducts an annual impairment test of intangible assets with indefinite life and goodwill.
Statistics:
Danaher – Corporation Sales (2012-2021):
Danaher Corporation’s fiscal year 2021 saw sales exceeding 29,453 million U.S. dollars. This represents a 29 % increase compared to the 2020 fiscal year, which saw sales of 22,284 million U.S. dollars.
Danaher – Sales (Segment, 2021):
Danaher Corporation’s total sales for the fiscal year 2021 were approximately 29,453 million U.S. dollars. Its Life Sciences department generated over half of the company’s total sales (approximately 15,000 million U.S. dollars).
Danaher – Sales (Major Product Group 2021):
For the fiscal year 2021, Research and medical products were the largest product group at Danaher Corporation. This product category accounted for approximately 84% of total sales, which amounts to close to 25,000 million U.S. dollars.
Danaher – Research and Development Expenses (2012-2021):
Danaher Corporation had reported R&D expenditures exceeding 1,700 million U.S. Dollars in the fiscal year 2021. This is a 29% increase over the 2020 fiscal year when the company’s R&D expenditures totaled around 1,300 million U.S. Dollars.
Danaher – Total Assets (2013-2021):
This statistic shows Danaher Corporation’s total assets for the fiscal years 2013 to 2021. Danaher’s total assets were exceeding 83,000 million U.S. dollars in fiscal 2021.
Recent Developments:
The year 2021
- Danaher bought Precision NanoSystems Inc., a biotechnology company in June.
- Aldevron was a supplier of contract manufacturing and scientific services that Danaher purchased in October.
The year 2020
- In March, the company bought Biopharma from General Electric Company.
- Cepheid, Danaher’s subsidiary developed a four-in-1 test to detect SarsCoV-2, Flu A, and Flu B from a single patient.
- Danaher’s Water Quality platform purchased Aquatic Informatics Inc. from XPV Water Partners, in July.
- Danaher bought a stake in Single-Use Support (a biotechnology company) in August.
