Danaher Corporation
Danaher Corporation
Type | Public |
---|---|
Traded as | NYSE: DHR [46] S&P 100 component S&P 500 component |
Industry | Conglomerate |
Founded | 1969 (1969)(as DMG) 1984 (1984)(as Danaher) |
Headquarters | Washington, D.C., U.S. |
Area served | Worldwide |
Key people | Steven M. Rales (Chairman of the Board) Mitchell P. Rales (Chairman of the Executive Committee) Thomas P. Joyce, Jr. (President & CEO) Daniel L. Comas (Executive VP & CFO) |
Revenue | US$18.33 billion(2017) |
Operating income | US$3.02 billion(2017) |
Net income | US$2.49 billion(2017) |
Total assets | US$46.65 billion(2017) |
Total equity | US$26.37 billion(2017) |
Number of employees | ~23,000(in the U.S.) ~45,000(outside of the U.S.) |
Divisions | List of divisions |
Website | Danaher.com [47] |
Footnotes / references [1] |
Danaher Corporation is a globally diversified conglomerate with its headquarters in Washington, D.C., United States. Danaher is ranked 162nd on the 2018 Fortune 500 list.[2] It operates in four segments: environmental & applied solutions, life sciences, diagnostics, and dental.[3] Danaher is currently ranked by Forbes as one of the best employers for diversity.[4]
Type | Public |
---|---|
Traded as | NYSE: DHR [46] S&P 100 component S&P 500 component |
Industry | Conglomerate |
Founded | 1969 (1969)(as DMG) 1984 (1984)(as Danaher) |
Headquarters | Washington, D.C., U.S. |
Area served | Worldwide |
Key people | Steven M. Rales (Chairman of the Board) Mitchell P. Rales (Chairman of the Executive Committee) Thomas P. Joyce, Jr. (President & CEO) Daniel L. Comas (Executive VP & CFO) |
Revenue | US$18.33 billion(2017) |
Operating income | US$3.02 billion(2017) |
Net income | US$2.49 billion(2017) |
Total assets | US$46.65 billion(2017) |
Total equity | US$26.37 billion(2017) |
Number of employees | ~23,000(in the U.S.) ~45,000(outside of the U.S.) |
Divisions | List of divisions |
Website | Danaher.com [47] |
Footnotes / references [1] |
History
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 just recently 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.
The company is named after Danaher Creek in western Montana. It was fishing in this creek where the Rales brothers, Steven and Mitchell, envisioned a new kind of manufacturing company dedicated to continuous improvement.[5] Danaher was one of the first companies in North America to adopt "kaizen" principles to manufacturing. [6] Kaizen being a Japanese philosophy of continuous improvement, and elimination of waste (see lean manufacturing).
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.[7] The unit also included Gilbarco Veeder-Root's underground fuel storage sensors, Dynapar's motion sensors[8] and Qualitrol's pressure and temperature measurement instruments, used on the electrical transformer industry.[9]
The Danaher Motion group acquired Kollmorgen, of Radford, Virginia.[10]
1990–2000
1990 Danaher acquires Easco Hand Tools Inc. [11] 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
UK-based West Instruments provides control and measurement instrumentation solutions 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 solutions.
In July 2005, Danaher Announces Definitive Agreement To Acquire Leica Microsystems.[12] The company manufactures a broad range of products for numerous applications requiring microscopic imaging, measurement and analysis. It also offers system solutions in the areas of Life Science including biotechnology and medicine, as well as the science of raw materials and industrial quality assurance.
2007–2008
2009–2010
In 2009 Danaher purchased the Analytical Technologies business unit of Canadian Life Sciences company MDS, Inc. for $650 million USD.[16] 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 $450 million USD, leaving Danaher as outright owner of AB SCIEX and Molecular Devices. The aggregate purchase price for the combined transactions is $1.1 billion.[17]
2011–2012
In 2011 Danaher entered into a definitive merger agreement with Beckman Coulter[18] and sold Accu-sort to Datalogic.
2013–2014
2015–2016
In October 2016, Danaher Corporation acquired Phenomenex for $700 million to expand its life sciences space.[28]
2017–present
In 2017, Danaher recorded $18.3 billion in revenue.[31]
In March 2018, the business announced it would acquire Integrated DNA Technologies for an undisclosed price.[32]
In July 2018, Danaher announced its intention to spin off its $2.8 billion Dental segment, into an independent publicly traded company. [33]
In February 2019, Danaher agreed to buy General Electric’s biopharmaceutical business, GE Life Sciences, for $21.4 billion. The unit makes equipment for the research and manufacture of pharmaceuticals.[34]
Divisions
Environmental & Applied Solutions Esko [35] HACH Pantone X-Rite
Life Sciences Beckman Coulter Life Sciences [36] Integrated DNA Technologies Leica Microsystems [37] Molecular Devices Pall Corporation
Diagnostics Beckman Coulter [38] Cepheid [39] Leica Biosystems Radiometer [40]
Dental Nobel Biocare Kavo Kerr Group Ormco Orascopic Implant Direct
Other brands (Note: As of July 2016, some of these are now part of Fortive)
Armstrong Tools- In October 2012 Danaher and Cooper sold Apex to Bain Capital for about $1.6 billion.
Dynapar[41]
Gems Sensors & Controls
Hengstler
Jacobs Vehicle Systems
Joslyn Clark
Matco Tools
Qualitrol
Teletrac
See also
Condition-based maintenance
Partial Discharge
Dissolved gas analysis
Electric power transmission
Electric power distribution