Radiometer, 2013

By: John R. Wells and Galen Danskin

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Synopsis: In 2013, Radiometer continued to lead the world in blood gas analysis equipment and accessories, selling direct and through distributors to hospital central laboratories, point-of-care locations, and non-hospital medical locations. Founded in 1935 and based in Denmark, Radiometer was acquired in January 2004 by US-based Danaher Corporation. Under Danaher's direction, Radiometer began an intensive program of process improvements using the Danaher Business System (DBS), an iterative tool system and company culture that sought to continuously improve the company's growth and lean and leadership capabilities. However, as CEO Peter Kurstein reviewed the successes of the last ten years, he conceded that Radiometer still faced significant challenges. Progress in the USA, the world's largest market, remained elusive. How would Radiometer breakthrough in the US? Then there was the issue of long-term growth. Roche and Siemens were investing heavily in multiple diagnostics segments. How should Radiometer respond? Which other segments of diagnostics should Radiometer consider? Quest Diagnostics was selling HemoCue, a Swedish based global niche leader in hemoglobin testing. Would acquiring them make sense for Radiometer?