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Danaher Corporation

Danaher Corporation – A Fortune 500 Company That Develops Products For The Medical And Industrial Sector.

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Danaher Corporation is a multinational conglomerate based in America. The headquarters of the company is in Washington, D.C. This year, Danaher ranked 130th on the Fortune 500 list. Steven M. Rales and Mitchell Rales founded the company in 1969 when it was called DMG. Danaher is one of the largest companies in North America and it adopted the principles of “Kaizen”, a Japanese philosophy to continuously improve and eliminate waste. Danaher has three platforms, namely, Life Sciences, Diagnostics, and Environment & Applied Sciences.

The Founding Story Of Danaher Corporation

In 1969, Steven Rales and Mitchell Rales organized the company as a Massachusetts real estate investment firm. They established the company under the name DMG which was changed to Diversified Mortgage Investors Inc in 1978. In 1984, the name of the company was again changed to Danaher Corporation and it was reincorporated under the Delaware General Corporation Law. The name Danaher was given by the Rales when they went on a fishing trip to Danaher, a tributary in Western Montana.

In 1986, Danaher merged with multiple companies when it bought Chicago Pneumatic. The Jacobs Manufacturing Co and Matco Tools Corp were under the acquisition of Chicago Pneumatic when Danaher bought the company. But, after a year, Danaher sold off CP and retained Matco and Jacobs at the same time. In the 1990s other divisions of Danaher were established. After Danaher Corporation was established in 1984, it acquired 12 companies to enter the manufacturing market within two years. In the Instrumentation Unit of Danaher, the company added Qualitrol and Gilbarco Veeder-Root. The company also acquired Kollmorgen, a company based in Virginia.

Danaher Corporation
Image source: rodpub.com

Early Growth And Expansion

The acquisition spree of Danaher kept continuing as it acquired red Easco Hand Tools in 1990. Next year, Danaher landed a big contract for Sears and it became the main supplier for hand tools. After it landed this contract, Danaher acquired multiple tools companies like Armstrong and Allen. It also expanded its presence in the chemical industry after acquiring Hach company in 1999 followed by a German company called Lange.

In 2005, Danaher announced that it will acquire Leica Microsystems which was known for manufacturing a broad range of products for microscopic imaging, measurement, and analysis. Eventually, Danaher entered the market of life science and started providing management systems in the healthcare sector. In 2007, the company acquired the Australian Pathology Instrument and Engineering company called Vision Systems Limited. The same year it acquired Tektronix Inc which is the company’s largest acquisition till today. The deal was closed for $1.1 billion. In 2009, Danaher acquired the analytics technology business unit of the Canadian-based company, MDS Inc.

Present Days

In the last decade, Danaher acquired Beckman Coulter followed by Navman Wireless in the next year. During this time, the company also sold its joint venture with Cooper Industries to Bain Capital for $1.6 billion. Danaher carried out another big acquisition in 2013 as it acquired Nobel Biocare for $2.2 billion. In 2014, Danaher and NetScout agreed to combine the communication unit of the former company with NetScout Systems. Many other companies were also acquired in the past years which includes Pall for $13.8 billion, Phenomenex for $700 million, Integrated DNA Technologies for an undisclosed amount, and many more.

In 2018, Danaher decided to spin off its dental segment and make it an independent company. Next year, it sold numerous business units to Sartorius AG for $750 million. The same year, Danaher appeared on the Forbes list for becoming one of the best employers for diversity. Last year, Tom Joyce retired as the CEO of the company and he was replaced by Rainer Blair.

Rainer M. Blair – CEO

Rainer Blair is the President and CEO of the company. He joined the Danaher Corporation in 2010 and held various leadership roles in the company. He has 30-years of industrial experience. Before joining Danaher, he was the CEO and President of MAPEI Americas, and before that he spent fifteen years with BASF Group.

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Dharmil Sheth: Founder of Pharmeasy That Delivering The Medicine At The Doorstep of Needy Patients

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In recent years, the healthcare industry thrived noticeably to fulfill the healthcare needs of people. In fact, this industry addressed all the desires of the patient. The innovative medical devices, diagnosis systems as well as Doctors appointment’s online platform; everything is possible. But among all, E-pharmacies have been playing the most important role. PharmEasy is being one of the successful E-Pharmacy platforms that connect patients with local pharmacists. Today, it is successfully helping to deliver the medicine at the patient’s doorstep. However, it is the result of the unique idea of Dharmil Sheth and his partner Shah. Through PharmEasy, they successfully brought the health commerce industry in India. 

Dharmil Sheth- Co-founder

Dharmil Sheth is well-known for his unique start-up ideas and PharmEasy is being one of them. He is a born entrepreneur, who always wanted to bring a change in the community by making things better. And so, he did it in his way. In 2015, he set up a successful healthcare start-up called PharmEasy. The PharmEasy app ensures any patients all over India to get the original medicines from authentic pharmacists. In fact, PharmEasy is much feasible for consumers to connect with local pharmacies. So, they need not go outside for the medicines they needed.

Apart from that, he started many such a start-up to satisfy consumers; means to serve society. 

Education and Career

He attended K.J. Somaiya College of Engineering for a bachelor’s degree in Electronics engineering. After that, he completed an MBA from Institute of Management Technology, Ghaziabad. However, Dharmil began his entrepreneurial journey with 91streets. Previously, he worked with many popular brands. Currently, Dharmil handles key areas of customer experience at PharmEasy. Also, the operations and marketing divisions of the company are under his control.

Start-ups of Dharmil Sheth

Apart from PharmEasy, he started Ekagrata, 91Streets. While creating up any platform and start-up, he aimed to make things better for the community. Presently, he is one of the directors of Hobspace, an ed-tech start-up.

Ekagrata

In 2010, it is started with a vision of making a country free from poverty, corruption as well as social inequalities. So, Dharmil created a platform called Ekagrata to support quality education to ensure all-rounded development. Especially, among the underprivileged kids.

91streets

Just after his graduation, Dharmil set up a marketing platform for all types of retailers in 2014. Understanding the need for modern retailers, he started 91streets which turn out as an excellent shopping companion for modern retailers.

The backstory of PharmEasy foundation

The inspiration behind the PharmaEasy foundation was to provide easily accessible healthcare services. Also, at the same time, these services should be affordable and available to all. He noticed many start-ups provide different healthcare services in wide ranges. But there was no such platform that provides home delivery of medicines to the needy patients. 

In the end, Dharmil Sheth and his doctor friend Dhawal Shah came up with the idea to build an e-pharmacy start-up. That’s how they set up PharmEasy back in 2015 to deliver medicines online. Today, the company delivers about 98 percent of the PIN codes across India.

Current achievements of PharmEasy

Today, PharmEasy is one of the largest platforms that deliver medicines. The company has warehouses in many cities. So, consumers can expect to get their medicines delivered on the same day itself. In fact, PharmEasy administrations are available more than 700 cities and deliver a wide range of medications. It’s available in non-prescription as well as the prescription category. Also, it offers a platform to book diagnostic tests. Over the period, the company has raised a total of 328.5 million dollars.

As well, PharmEasy uses many technology products and services to assure the best service. However, the company’s app called PharmEasy has been downloaded by more than 29000 people.