Innovation hvordan holder Radiometer den i live? , Tommy Bysted, Radiometer Medical ApS

Transcription

1 Innovation hvordan holder Radiometer den i live? , Tommy Bysted, Radiometer Medical ApS

2 Background Name Tommy K. Bysted 44 years old. Education economical basic education before starting at DTU in MSc. in EE from 1995 and PhD. in Nokia Mobile Phones PM and R&D Manager for Environmental business unit at B&K R&D Manager at RESON A/S Executive Vice President R&D at RESON A/S Director R&D New Product Development, Radiometer Medical ApS.

3 /02/2012 Radiometer overview No. of employees: 2,200 worldwide Acute care testing solutions for lab and point-of-care as well as patient monitoring Markets: Products sold in more than 100 countries 3

4 Originally, Radiometer produced measuring instruments for the radio industry Founded in Copenhagen in 1935 by two young engineers Carl Schrøder og Børge A. Nielsen In 1937, Radiometer began developing ph-measuring instruments by request of the Danish Carlsberg Brewery But in the summer of 1952, Radiometer s path was forever changed... 4

5 Radiometer enters the field of medical technology Summer 1952: polio epidemic in Europe Many children die of respiratory failure In Denmark, Dr. Poul Astrup and anesthesiologist Bjørn Ipsen discover that by measuring the ph value of patient s blood doctor s can prevent respiratory failure Radiometer is asked to develop such an instrument Radiometer develops the world s first blood gas analyzer in

6 Radiometer s mission To contribute to a correct diagnosis and treatment of critically ill patients 6

7 Radiometer Accelerating Growth Revenues, Fixed FX - CAGR 7.1% Operating Profit and Margin, Fixed FX MUSD MUSD % 309 6% 328 7% 353 8% 382 9% % 467 5% % ,0% 10,0% 26% 26% 25,8% 25,8% 8,0% 6,0% 4,0% % 27% 26,8% 27,1% % 29% 28,8% 28,9% % ,1% 30,6% % ,0% ,0% E 2009E 2010B E 2009E 2010B E 2010B Number of employees: 1,809 1,836 2,076 2, Working capital, MUSD: R&D Expenses % of sales: 14% 14% 13% 12% 11% 7

8 In 2004, Radiometer became part of Danaher Washington, D.C. based conglomerate #213 on Fortune 500 More than 55,000 employees in 50 countries and a 2010 revenue of 13 billion Radiometer: Key acquisition as part of overall expansion in Europe and within the field of medical technology 8

9 PORTFOLIO SEGMENTATION Environmental Test & Measurement Dental Life Sciences & Diagnostics Industrial Technologies 2010E Revenues ~$2.7B ~$3.0B ~$1.8B ~$2.3B ~$3.0B 9

10 Success 10 Year Shareholder Returns % 600 Danaher 20.2% CAGR Parker Hannifin 13.1% SPX 12.9% Eaton 11.8% Ingersoll-Rand 11.7% Cooper 10.9% GE 10.6% ITW 10.0% Textron 9.4% 3M 8.8% Emerson 8.6% Dover 8.3% S&P % Honeywell 5.1% Thermo Fischer 2.4% 10

11 FINANCIAL HIGHLIGHTS $14.0 $12.0 $10.0 $8.0 $6.8 $7.9 $1.31 $9.5 $1.60 $11.0 $1.91 $12.7 $2.12 $11.2 $1.77 $2.50 $13.1* * $2.29 $2.00 $1.50 $6.0 $1.13 $1.00 $4.0 $2.0 $0.50 $ E $- EPS restated to reflect 2-for-1 stock split, effective June 11, 2010 * First Call consensus estimates as of October 29, 2010 Revenues ($B) Adjusted EPS DBS, strength of portfolio driving performance 11

12 DANAHER vision Associates and customers will demonstrate extraordinary loyalty We will be respected and admired by all who come into contact with us Our leading edge technologies and innovation will create opportunities around the world Our pre-eminent business system, along with the strength and breadth of our brands, will be viewed as the ultimate competitive model Premier Global Enterprise 12

13 Compared to Other Growth Approaches, Innovation Remains the Best Opportunity to Create Sustainable Growth Methods to Achieve Revenue Growth Incremental Incremental methods provide necessary but limited growth Gains are often hard-won and therefore not always profitable Successes are easily copied making gains short-lived Already more than accounted for in stock valuations Innovation Innovation is the best opportunity for sustainable growth Gains are more profitable and sustainable - Sustainable Differentiation - Brand permission The creativity and inventiveness of our people is our country s greatest asset and has always underpinned the UK s economic success. Tony Blair, 2004 Acquisitions Acquisitions have historically failed to create value Gains are elusive at best and 80% of acquisitions fail to meet expectations Takeovers have destroyed more than $200 billion in shareholder value in the US over the past 20 years Eighty-four percent of CEOs making innovation a priority report it has changed the way they do business or affected their company's financial performance in a number of important areas. Revenues 88% Earnings/profit margins 79% Efficiency of own organization 78% Number of customers 76% SmartPros,

14 Danaher Business System Tool Box General Management Tools Business Process Associate Development Leadership Development Lean Tools I2E Tools Strategic Planning Introduction to DBS DBS Immersion 5S Visual Mgmt. (DMP) Danaher Materials Process (VOC) Voice of the Customer Policy Deployment DBS Tool Certification MBB Process ECO/DBSLO Value Stream Mapping Materials Assessment Tool Value Selling Daily Management DBSL Boot Camp DBS Zealotry Boot Camp Standard Work (PSI) Product Sales Inventory Customer Segmentation Kaizen Event Basics Training & Facilitation Techniques Danaher Leadership Program Model Cell Lean Supply Chain Accelerated Product Development Acquisition Integration Root Cause/Counter Measure Crucial Conversations (SMED) Set-up Reduction Sourcing Workshop Product Life Cycle Mgmt. JIT Accounting Change Management Recruiting/Selection/ Interview Skills (3P) Production Prep. Process Supply Base Management Project Management Accounts Receivable Benchmarking DBSL Continuing Education Workshop (TPM) Total Productive MFG Commodity Management TG-2 Kaizen Financial Acumen DiSC Personality Profile Flow/5S/Standard Work (VRK) Variation Reduction Kaizen Pricing/Margin Management Lean Conversion Boot Camp (FMEA) Failure Mode & Effective Analysis (SFI) Sales Force Initiative JP KOR M P SL SP SW Translations Japanese C Korean CZ Mandarin DK Portuguese DUT Slovakian F Spanish G Swedish IT Chinese Czech Danish Dutch French German Italian (TPI) Transactional Process Improvement Heijunka Value Analysis Value Engineering (MSA) Measurement System Analysis Six Sigma Supply Chain & Logistics Best Practices Breakthrough Ideation/ Open Innovation (IP) Intellectual Property Process Lean Software Design Posted on mydanaher.com New/Revised in 2008 New/Revised in 2009 Certified Instructor Lead MBB (Master Black Belt) Lead DBSO Led Only Must be initiated, lead, and supported by OPCO senior Leadership Energy Conservation Kaizen DBS Compliance for Medical Device MGF Certified Instructor: must meet specific requirements to teach this course. DBSO Lead: Must be employed with the DBS Office to teach MBB (Master Black Belt): Instructors must follow the MBB Certification process. Check mydanaher for the MBB process. 14

15 Continuous Improvement If you always do what you always did, you always get what you always got!! - Unknown Wise Man 15

16 Innovation Danske ingeniører er innovative og denne styrke skal sikre Danmarks konkurrenceevne i forhold til områder med lavere lønninger. Hvad er innovation? Innovation ses ofte defineret som opfindelser og ideer, der er omsat til produkter eller tjenester, der er bragt til markedet. 16

17 Innovation Kan man være innovativ uden at fokusere på meget avanceret teknologi med dertil hørende store risici? Teknologi dreven Markeds dreven 17

18 Innovation Technology driven Management philosophy that pushes for development of new goods or services based on a firm s technical abilities instead of proven demand: to make keys first and then look for locks to open. Practically every breakthrough innovation is based on a technology driven orientation. Hvor ofte kan et nyt produkt siges at være breakthrough innovation? 18

19 Innovation Hvad er innovation? Innovation opstår, når teknologi og opfindelser kombineres med forretningsforståelse i bestræbelsen på at løse reelle udfordringer og problemstillinger. 19

20 Innovation Fokusering på markeds eller bruger dreven innovation vil/kan kræve et opgør mod kulturen i mange virksomheder. For nogle centrale udviklingsfolk kan det betyde en brat opvågning nogle vil føle at innovationen forsvinder men det er innovation på en anden måde. Lav ikke løsninger mere komplekse end nødvendigt, det adderer risks men meget lidt værdi. Make everything as simple as possible, but not simpler. Gå i retningen af r&d i stedet for R&D. Satse på udvikling af flere produkter / modeller i stedet for at vente på det helt perfekte. 20

21 21 May , The Best Team Wins The people make the difference 21

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