07.01.06
$1.3 Billion ($41.3B Total)
Key Executives:
Stefan Dräger, Chairman and CEO of Dräger
Marcus Aben, President and CEO of Dräger Medical
Wolfgang Reim, Executive Board Chairman of Dräger Medical
Hans-Oskar Sulzer, CFO of Dräger
Roland Jaksch, CFO of Dräger Medical
No. of Employees: 5,859
World Headquarters: Lubeck, Germany
In its second year of operation, Dräger Medical, the joint venture of Drager and Siemens Medical, saw net sales climb to $1.3 billion, an 8% increase from $1.2 billion in 2004. The largest percentage of sales came from sales in Europe, with Germany and the Americas coming in second and third, respectively. Net revenues also increased by 15%, totaling $71 million.
The global focus of the German company was intensified in 2005 as 78% of total business and 87% of equipment orders were generated outside of Germany. The United States was particular strong for the company as it remained the largest regional market for equipment sales.
While the medical device industry continues to consolidate with a vast number of acquisitions, Dräger has remained steadfast in its goal of restructuring from within. This comes as no surprise, since the company received a grant of $9.2 million in December from German Finance Minister Dietrich Austermann, swaying Dräger to focus on its Lubeck, Germany-based headquarters in an attempt to revitalize the regional economic structure. As a result, Drager has recently relocated anesthesia device production from the US-based, Telford, PA plant to the Lubeck site, where the future corporate headquarters of Dräger Medical will reside. Dräger has invested $59 million in the new Lubeck headquarters and expects the project to be completed by 2007.
Through numerous product launches and partnerships announced in 2005, Dräger has been able to remain on the cutting edge of perioperative care. New products introduced in 2005 include the Stella OR light (developed in only two years), the Infinity Gateway Suite and the Zeus anesthesia system for infants and newborns.
Part of Dräger’s success was due to its partnerships with leading OEMs. During 2005, Drager entered into an agreement with Irvine, CA-based Masimo Corporation, for which Dräger is now fitting the Infinity patient monitors with Masimo SET Sp02 SmartPod sensors.
“We strive to offer our customers the best technology available. Masimo SET pulse Oximetry has achieved strong market acceptance and we feel this technology is an excellent choice for our customers worldwide,” said Marcus Aben, president and CEO of Dräger Medical Systems Inc.
Additional partnerships have augmented the Infinity line of patient monitors. During 2005, Dräger partnered with Munich, Germany-based Pulsion Medical Systems to incorporate Pulsion’s less invasive PICCO-Technology for monitoring complete circulatory function.
“One of the major trends in healthcare today is toward less invasive care,” said Aben. “As a result of our alliance with Pulsion, we are pleased to offer this less invasive approach to advanced hemodynamic monitoring to our customers.”
Further enhancements to the Infinity line included the introduction of newer Neonatal Intensive Care Unit capabilities to the Infinity Kappa XLT patient monitor, which provides complete neonatal parameter support facilitating easier assessment of apnea, bradycardia and desaturation.
In May 2005, Dräger announced another step toward perfecting the anesthesia workstation by unveiling IVenus, a dispenser of anesthesia drugs.
Although most of Dräger’s products are not available in the United States or Canada, the Apollo anesthesia system was unveiled for the US market during 2005 and has proven very successful. Additionally, the FDA approved Dräger’s SmartCare software solution, an automated ventilator-weaning module for the EvitaXL intensive care ventilator system.
Most of Dräger’s fiscal 2005 was characterized by numerous business process improvements and restructurings, most notably the transfer of production of all patient monitoring and information systems from Danvers, MA (August 2005) and the entire Perinatal Care division from Hatboro, MA (January 2006) to Telford, PA.
Dräger also implemented improved business processes during 2005, most notably the “Management Installed Base” (MIB) process. Under the MIB process, operating service processes are defined for each country’s organization, including the escalation processes and the global supply of replacement parts. The specific aim of MIB is to increase service efficiency by standardizing the company’s global service activities.
Dräger also sought to improve its processes with the global implementation of a product lifecycle management (PLM) system.
In 2006, Dräger’s internal improvement efforts are proving beneficial as the company achieved record first-quarter earnings. Revenues for the group grew 15% to $536 million, up from $465 million in 2005. Dräger Medical’s contribution was $360 million, a 15% increase, with Germany contributing the greatest increase in revenues. Dräger Safety reported a 14% increase to $185 million.
Dräger expects revenue growth on the order of 5% to 7% for Dräger Medical and 3% to 5% for Dräger Safety.
Key Executives:
Stefan Dräger, Chairman and CEO of Dräger
Marcus Aben, President and CEO of Dräger Medical
Wolfgang Reim, Executive Board Chairman of Dräger Medical
Hans-Oskar Sulzer, CFO of Dräger
Roland Jaksch, CFO of Dräger Medical
No. of Employees: 5,859
World Headquarters: Lubeck, Germany
In its second year of operation, Dräger Medical, the joint venture of Drager and Siemens Medical, saw net sales climb to $1.3 billion, an 8% increase from $1.2 billion in 2004. The largest percentage of sales came from sales in Europe, with Germany and the Americas coming in second and third, respectively. Net revenues also increased by 15%, totaling $71 million.
The global focus of the German company was intensified in 2005 as 78% of total business and 87% of equipment orders were generated outside of Germany. The United States was particular strong for the company as it remained the largest regional market for equipment sales.
While the medical device industry continues to consolidate with a vast number of acquisitions, Dräger has remained steadfast in its goal of restructuring from within. This comes as no surprise, since the company received a grant of $9.2 million in December from German Finance Minister Dietrich Austermann, swaying Dräger to focus on its Lubeck, Germany-based headquarters in an attempt to revitalize the regional economic structure. As a result, Drager has recently relocated anesthesia device production from the US-based, Telford, PA plant to the Lubeck site, where the future corporate headquarters of Dräger Medical will reside. Dräger has invested $59 million in the new Lubeck headquarters and expects the project to be completed by 2007.
Through numerous product launches and partnerships announced in 2005, Dräger has been able to remain on the cutting edge of perioperative care. New products introduced in 2005 include the Stella OR light (developed in only two years), the Infinity Gateway Suite and the Zeus anesthesia system for infants and newborns.
Part of Dräger’s success was due to its partnerships with leading OEMs. During 2005, Drager entered into an agreement with Irvine, CA-based Masimo Corporation, for which Dräger is now fitting the Infinity patient monitors with Masimo SET Sp02 SmartPod sensors.
“We strive to offer our customers the best technology available. Masimo SET pulse Oximetry has achieved strong market acceptance and we feel this technology is an excellent choice for our customers worldwide,” said Marcus Aben, president and CEO of Dräger Medical Systems Inc.
Additional partnerships have augmented the Infinity line of patient monitors. During 2005, Dräger partnered with Munich, Germany-based Pulsion Medical Systems to incorporate Pulsion’s less invasive PICCO-Technology for monitoring complete circulatory function.
“One of the major trends in healthcare today is toward less invasive care,” said Aben. “As a result of our alliance with Pulsion, we are pleased to offer this less invasive approach to advanced hemodynamic monitoring to our customers.”
Further enhancements to the Infinity line included the introduction of newer Neonatal Intensive Care Unit capabilities to the Infinity Kappa XLT patient monitor, which provides complete neonatal parameter support facilitating easier assessment of apnea, bradycardia and desaturation.
In May 2005, Dräger announced another step toward perfecting the anesthesia workstation by unveiling IVenus, a dispenser of anesthesia drugs.
Although most of Dräger’s products are not available in the United States or Canada, the Apollo anesthesia system was unveiled for the US market during 2005 and has proven very successful. Additionally, the FDA approved Dräger’s SmartCare software solution, an automated ventilator-weaning module for the EvitaXL intensive care ventilator system.
Most of Dräger’s fiscal 2005 was characterized by numerous business process improvements and restructurings, most notably the transfer of production of all patient monitoring and information systems from Danvers, MA (August 2005) and the entire Perinatal Care division from Hatboro, MA (January 2006) to Telford, PA.
Dräger also implemented improved business processes during 2005, most notably the “Management Installed Base” (MIB) process. Under the MIB process, operating service processes are defined for each country’s organization, including the escalation processes and the global supply of replacement parts. The specific aim of MIB is to increase service efficiency by standardizing the company’s global service activities.
Dräger also sought to improve its processes with the global implementation of a product lifecycle management (PLM) system.
In 2006, Dräger’s internal improvement efforts are proving beneficial as the company achieved record first-quarter earnings. Revenues for the group grew 15% to $536 million, up from $465 million in 2005. Dräger Medical’s contribution was $360 million, a 15% increase, with Germany contributing the greatest increase in revenues. Dräger Safety reported a 14% increase to $185 million.
Dräger expects revenue growth on the order of 5% to 7% for Dräger Medical and 3% to 5% for Dräger Safety.