33-637: Danaher Corporation is an American global conglomerate founded in 1984 by brothers Steven and Mitchell Rales . Headquartered in Washington, D.C. , the company designs, manufactures, and markets medical, industrial, and commercial products and services. Danaher was among the first companies in North America to adopt Kaizen principles, a Japanese lean manufacturing philosophy of continuous improvement and efficiency. The company held $ 78.5 billion in assets as of 2024. The company's origins go back to
66-548: A Massachusetts real estate investment trust organized in 1969 as DMG, Inc. In 1978, DMG, Inc. was reorganized as a Florida corporation and changed its name to Diversified Mortgage Investors, Inc. DMG had been invested in retirement home developments when it was taken over by the Rales, and in 1984, the company adopted the name Danaher and reincorporated under the Delaware General Corporation Law . It
99-859: A Latin suffix meaning 'doing' and 'capable of'. In May 2020, it was announced that Tom Joyce would retire as CEO of the company. He was replaced by Executive Vice President Rainier Blair on September 1, 2020. In September 2022, it was announced that Pall Life Sciences will be merging with Cytiva to create a new Biotechnology Group within Danaher. The merger was completed in May 2023. As of May 2023, Cytiva employed more than 16,000 associates in over 40 countries. Also in September 2022, Danaher announced its intention to spin off its Environmental & Applied Solutions segment in Q4 2023. On February 8, 2023, Danaher announced that
132-657: A businessman in Washington, D.C. credited for enacting the first employee stock ownership plan transaction in U.S. history. His father was also a philanthropist, founding the Norman and Ruth Rales Foundation and the Ruth Rales Jewish Family Service. In 1969, Rales graduated from Walt Whitman High School in Bethesda, Maryland . In 1973, he graduated from DePauw University , where he was in
165-566: Is the deadliest form, remained unchanged at $ 14.90. Steven Rales Steven M. Rales (born March 31, 1951) is an American businessman and film producer . He founded Danaher Corporation with his brother Mitchell Rales in 1984 and is its chairman. Rales also founded the film production company Indian Paintbrush in 2006, which works closely with filmmaker Wes Anderson . His work with Anderson has earned him three Academy Award nominations, winning Best Live Action Short Film for The Wonderful Story of Henry Sugar (2023). Rales also owns
198-411: The 96th Academy Awards . In May 2024, he acquired media distribution companies Janus Films and The Criterion Collection . Rales was married to Christine Plank from 1983 to 2003. They have three children: Alexander, Gregory, and Stephanie. He married Lalage Damerell in 2012, the mother of writer and former CIA officer Amaryllis Fox Kennedy . Rales was a major donor in the 2002 dedication of
231-527: The Beta Theta Pi fraternity . In 1978, he earned a juris doctor (JD) degree from American University . In 1979, he left his father's real estate firm to found Equity Group Holdings with his brother Mitchell Rales . Using junk bonds , they bought a diversified line of businesses. They changed the name to Diversified Mortgage Investors in 1978 and to Danaher in 1984, with him serving as its chairman since then. In 1985, they bought Easco Corporation ,
264-773: The General Electric Life Sciences division for $ 21.4 billion and was named Cytiva . Danaher had to sell off part of its life sciences businesses to Sartorius to satisfy the Federal Trade Commission regulatory requirement for the acquisition. Cytiva is a global provider of technologies and services related to the development, manufacture, and delivery of vaccines, diagnostics, and therapeutics to customers in organizations including academia, biotechnology, and drug manufacturing. The Cytiva name stems from 'cyto' meaning 'cell' in Greek, and 'iva'
297-471: The manufacturing business. Therefore, in 1986, Danaher added Qualitrol to its instrumentation unit. The unit also included Gilbarco Veeder-Root 's underground fuel storage sensors, Dynapar's motion sensors and Qualitrol's pressure and temperature measurement instruments, used on the electrical transformer industry. In 1990, Danaher acquired Easco Hand Tools Inc. Danaher was selected as exclusive supplier of handtools for Sears. In 1994, Danaher acquired
330-664: The Ion Proton Sequencer from Life Technologies, a precise benchtop device that might be scaled for widespread use in new assays. Later, in 2013, Thermo Fisher agreed to buy Life Technologies for $ 13.6 billion. A court case involving Life Technologies (as the former Applera Corp ) ended in January 2014, as the Connecticut District Court penalized Life Technologies Corp over $ 60 million for patent infringements by its parent companies prior to
363-647: The Peeler Art Center at DePauw. As of November 2024 , he held a net worth of $ 8.9 billion according to Forbes . Life Technologies (Thermo Fisher Scientific) Life Technologies Corporation was a biotech company founded in November 2008 through a US $ 6.7 billion merger of Invitrogen Corporation and Applied Biosystems Inc. The joint sales of the combined companies were about $ 3.5 billion; they had about 9,500 employees and owned more than 3,600 licenses and patents. The name "Life Technologies"
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#1732801972017396-502: The acquisition of scientific informatics company ID Business Solutions Ltd. (IDBS). It was announced that IDBS would become part of Danaher's Life Sciences platform. In 2017, Danaher recorded $ 18.3 billion in revenue. In March 2018, the business announced it would acquire Integrated DNA Technologies for an undisclosed price. In July 2018, Danaher announced its intention to spin off its $ 2.8 billion Dental segment into an independent publicly traded company. They named Amir Aghdaei, who at
429-526: The bid after five months with a profit of $ 60 million. In 1992, the AM side of WGMS was sold off to the Rales brothers who converted the music station into the first frequency for WTEM , the first full-time sports talk radio station in the Washington metropolitan area . He and his brother founded Colfax Corporation in 1995, an industrial pumps manufacturer based in Richmond, Virginia . In 2008, Rales engineered
462-541: The businesses was approximately $ 140 million in 2018. In 2019, Danaher was ranked by Forbes as one of the best employers for diversity. On Monday, March 2, 2020, Dr. Stephen Hahn , the FDA'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. Hahn went on to note, "There will be—the estimates we're getting from industry right now, by
495-678: The combined transactions is $ 1.1 billion. In 2011, Danaher acquired Beckman Coulter and sold Accu-sort to Datalogic . In October 2012, Danaher and Cooper Industries agreed to sell their joint venture, Apex Tool Group , to Bain Capital for a fee of around $ 1.6 billion. In December 2012 Danaher Corporation acquired Navman Wireless, a provider of on-demand fleet and asset management technology. In September 2014, Danaher announced its intention to buy Nobel Biocare for $ 2.2 billion. In October 2014, Danaher Corp announced it would be combining its communications unit with NetScout Systems . The action
528-409: The end of this week, close to a million tests will be able to be performed." 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. In March 2020, Danaher acquired the biopharma business of
561-612: The initial public offering of the company. Rales also owns a 20% stake in the Indiana Pacers , a National Basketball Association (NBA) team. Rales founded the film production company Indian Paintbrush in 2006. The company works frequently with filmmaker Wes Anderson , producing films such as Moonrise Kingdom , The Grand Budapest Hotel , and Isle of Dogs . Rales has earned three Academy Award nominations for his work with Anderson, winning Best Live Action Short Film for The Wonderful Story of Henry Sugar (2023) at
594-579: The media distribution companies Janus Films and The Criterion Collection and holds a 20% stake in the Indiana Pacers of the National Basketball Association (NBA). His net worth was estimated by Forbes in 2024 to be $ 8.9 billion. Raised in a Jewish family, Rales is one of four sons of Ruth (née Abramson) and Norman Rales. His father was raised in the Hebrew Orphan Asylum of New York and later became
627-471: The name. The use of the "Life Technologies" brand name is disputed. Life Technologies (India) Private Limited, a company founded in 2002, operating in this corporate name claims ownership of the brand name. The "Life Technologies" brand language and industrial design for the award-winning Ion Proton Sequencer was developed by RKS Design . Between its formation in 2008 and its acquisition by Thermo Fisher Scientific in 2014, Life Technologies Corporation
660-610: The new company is named Veralto Corporation and will be headed by Danaher Executive Vice President Jennifer Honeycutt as Veralto's President and CEO. On September 30, Danaher announced the separation completion of Veralto and that Veralto will begin trading on the New York Stock Exchange on October 2 under the symbol "VLTO." On 28 August 2023, Danaher announced that it had entered into a definitive agreement to acquire Abcam for approximately $ 5.7 billion at $ 24 per share in cash. In April 2024, Precision Nanosystems
693-560: The portfolio of chemical, mainly water and wastewater, analytics also with the German company Lange. Danaher acquired Trojan Technologies, an environmental engineering firm, in 2004. 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
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#1732801972017726-442: The price of these tests since 2019. On September 12, 2023, author and vlogger John Green released a video highlighting these ethical concerns and calling on his community to reach out to Danaher. One week later, Cepheid and Danaher announced a 20% price reduction for their Xpert MTB/RIF TB test cartridge, from $ 9.98 to $ 7.97 in high TB-burden countries. However, their Xpert MTB/XDR test used to diagnose for drug-resistant TB, which
759-666: The purchase of Tektronix, Inc. for US$ 2.85 billion. ChemTreat was acquired by Danaher in 2007 as well. In 2009 Danaher purchased the Analytical Technologies business unit of Canadian Life Sciences company MDS, Inc. for US$ 650 million. 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
792-619: The range of control and measurement instrumentation. In July 2005, Danaher announced a definitive agreement to acquire Leica Microsystems . Leica 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. In early 2007 Danaher acquired Australian Pathology Instrument and Engineering company Vision Systems Limited. Also in 2007, Danaher made its largest acquisition to date,
825-481: The then-largest independent aluminum extrusion manufacturer and hand tool manufacturer which produced the Craftsman brand of sockets and wrenches for Sears. In 1988, they made a hostile takeover bid for Interco , a conglomerate comprising manufacturers as diverse as Converse shoes and Ethan Allen furniture. When the company responded with a poison pill , they sued, and prevailed in court. They later ended
858-577: The time was President of Danaher's Dental Platform, to be President and CEO of the new company upon completion of the transaction. The corporate spin-off was completed in December 2019, with the new company called Envista Holdings Corporation. 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
891-571: The tool company Armstrong Tools , the makers of tool brands Armstrong, Allen, and others. In 1995 Danaher acquired German components manufacturer Hengstler , a leading manufacturer of counters, printers, relays, and high-precision rotational sensors. Hengstler was Danaher's first acquisition on the European mainland, and the first operating company headquartered outside the United States. Since 1999, Danaher has owned 100% of Hach , broadening
924-708: Was an independent multinational corporation based in Carlsbad, California , United States. In 2013, they launched a project called Claritas Genomics in partnership with Boston Children's Hospital . With Children's as a major shareholder, Claritas Genomics merged the knowledge, resources, and employees of the Genetic Diagnostic Lab at the Boston hospital, a CLIA-certified facility that provided more than 100 genetic tests, including numerous specific diagnostics created at Boston Children's. It also made use of
957-470: Was an old name from the history of Invitrogen. GIBCO (Grand Island Biological Company) had been founded around 1960 in New York; in 1983 GIBCO merged with a reagent company called Bethesda Research Laboratories (BRL) and the merged company was named Life Technologies. In 2000, Invitrogen acquired Life Technologies and discontinued that name. When Invitrogen and Applied Biosystems merged, the companies revived
990-459: Was changed to Matco Tools Corp. In November 1991, 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's founding in 1984, Danaher acquired 12 companies as part of a strategy to enter
1023-626: Was completed in July 2015 In May 2015, Danaher announced the acquisition of Pall Corporation for $ 13.8 billion, which was completed in August 2015. In June 2016, Danaher spun off several subsidiaries, including Matco and AMMCO-COATS, to create Fortive . In September of the same year, the company announced it would acquire Cepheid for $ 4 billion (including debt). In October 2016, Danaher Corporation acquired Phenomenex for $ 700 million to expand its life sciences space. In October 2017, Danaher announced
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1056-674: Was merged into Cytiva. In June, The US Food and Drug Administration (FDA) granted marketing approval to Danaher's Cepheid unit for a rapid test for hepatitis C . Using a blood sample from a fingertip, the rapid test detects the virus's RNA and delivers results in less than roughly an hour, as opposed to requiring a sample to be sent to a lab. Controversy has arisen regarding the pricing of test cartridges manufactured by Danaher's subsidiary, Cepheid . These cartridges are essential for detecting diseases such as COVID-19, HIV, and tuberculosis. Organizations such as Treatment Action Group and Doctors Without Borders have been asking Cepheid to lower
1089-617: Was named after Danaher Creek in Western Montana , where the brothers conceptualized it while fishing. 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. In June 1987, Danaher sold CP while retaining Jacobs, including its Matco Tools Division. Jacobs' name
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