Instrument Business Outlook Names Thermo Fisher Company of The Year
ARLINGTON, Va., March 15, 2022 /PRNewswire-PRWeb/ -- Instrument Business Outlook (IBO), a part of Science and Medicine Group selected Thermo Fisher Scientific as its 2021 Company of the Year.
ARLINGTON, Va., March 15, 2022 /PRNewswire-PRWeb/ -- Instrument Business Outlook (IBO), a part of Science and Medicine Group selected Thermo Fisher Scientific as its 2021 Company of the Year. The instrument-focused newsletter said that during 2021, Thermo Fisher balanced the demands of recent and pending major acquisitions, the unpredictable COVID-19 marketplace, the roll out of multiple new products and a commitment to the fundamentals of its business strategy.
The announcement was made in a recent blog post. The whole article can be read here: https://instrumentbusinessoutlook.com/ibos-2021-company-of-the-year-thermo-fisher-scientific/
The newsletter said that in 2021, Thermo Fisher's performance excelled in key financial metrics: adjusted EBITDA rose 27.0% to nearly $13 billion; ROIC rose from 18.9% to 19.8%; adjusted gross margin increased 40 basis points to 51.6%; and free cash flow grew 3.2% to $7.0 billion/
Describing a unique challenge the company faced in 2021, Dan Shine, Senior Vice President and President, Analytical Instruments, for Thermo Fisher, told IBO:
"The changing demands of the pandemic response globally continued to be the greatest challenge industrywide in 2021, including our significant scale-up of vaccine production." The company mobilized its range of resources. "We addressed this by continuing to rely on our PPI business system and our mission-driven culture, which is what enables us to pivot quickly for customers, make strategic investments in new capacity, and have clear visibility into our supply chains and the global infrastructure so we can be dynamic in our response."
IBO selects a company of the year based primarily on three criteria: financial performance, strategic and operational improvements and developments, and innovative product introductions.
Instrument Business Outlook (IBO) is a twice-monthly newsletter covering the analytical and life sciences instrument industry. IBO delivers the latest curated industry news, information and trends, as well as SDi data and analysis to deliver the maximum in industry insight with a minimum time investment for executives and investors. Subscription information can be found at https://instrumentbusinessoutlook.com/
Media Contact
Tanya Samazan, Instrument Business Outlook, (323) 336-8788, [email protected]
SOURCE Instrument Business Outlook
