Deep Intelligence Across Industries

Company Headquarters: New Jersey, US Founded: 1891 Workforce: ~69,000 Company Working: Merck & Co., Inc. (Merck) is a leading global biopharmaceutical company that develops prescription medicines, vaccines, biologic therapies, and animal health products. The company operates in more than 140 countries to deliver innovative health solutions. It operates through pharmaceutical, animal health, and healthcare services segment. The pharmaceutical segment includes human health pharmaceutical and vaccine products. The animal health segment discovers, develops, manufactures, and markets animal health products, such as pharmaceutical and vaccine products, for the prevention, treatment, and control of diseases in livestock and companion animal species, which it sells to veterinarians, distributors, and animal producers. The healthcare services segment offers services and solutions that focus on engagement, health analytics, and clinical services to improve the value of care delivered to patients.

Company Headquarters: Washington, D.C., US Founded: 1969 Workforce: ~71,000 Company Working: Danaher designs, manufactures, and markets professional, medical, industrial, and commercial products and services all over the world. The company has five business segments, namely, life sciences, diagnostics, dental, water quality, and product identification. Its life sciences segment provides laser scanning, compound, surgical, and other stereo microscopes. It also offers dental implant systems, high-precision individualized prosthetics, and CAD/CAM systems under the brand name Nobel Biocare. The company operates through more than 20 subsidiaries in the global market.

Company Headquarters: Basel, Switzerland Founded: 1954 Workforce: 5,954 Company Working: Institut Straumann AG (Straumann) is a global leader in the field of implant, restorative, and regenerative dentistry. The company develops and manufactures dental implants, instruments, prosthetics, and dental biomaterials for use in tooth replacement and restoration. Straumann offers a diverse range of products and solutions for both conventional treatment and digital workflows, including guided surgery, intra-oral scanning, and CAD/CAM restorations. As of March 2017, approximately 17 million Straumann implants have been placed worldwide. Straumann has various international brands including Anthogyr, Medentika, Neodent, ClearCorrect, and Dental Wing. The company sells its products through a well-developed network of distribution subsidiaries and partners.

Dentsply Sirona describes itself as the world's largest diversified manufacturer of professional dental products and technologies. Its portfolio runs from high-ticket connected equipment (CEREC chairside CAD/CAM, Primescan intraoral scanners, Orthophos and Axeos imaging, treatment centres) to recurring consumables (endodontics, restoratives, preventive products, anaesthetics), dental implants and digital orthodontics (SureSmile). It also owns a non-dental continence-care franchise, Wellspect (LoFric, Navina). The company is in the second year of a turnaround. Net sales have fallen from USD 4.25bn (FY2021) to USD 3.68bn (FY2025). Cumulative goodwill and intangible impairments exceed USD 2bn since 2022. A failed direct-to-consumer aligner venture (Byte) was suspended in late 2024. CEO Dan Scavilla's 24-month "Return-to-Growth Action Plan" (November 2025) rebuilds dealer relationships, redirects about USD 120m a year into innovation and clinical education, eliminated the dividend (February 2026), and prioritises deleveraging. At about 6x forward adjusted EPS, the equity is priced as a distressed turnaround of a franchise that still leads its category. --- ### Company's own description (FY2025 10-K / annual report) The company describes itself as developing, manufacturing and marketing "a comprehensive solutions offering, including dental and oral health products as well as other consumable medical devices under a strong portfolio of world-class brands." Its vision covers improving oral health and continence care globally. Its products aim to "provide high-quality, effective and connected solutions to advance patient care and deliver better and safer dental care" (2026 press-release boilerplate). ### Business model and revenue model Dentsply Sirona is overwhelmingly a product company. Revenue is recognised mainly when goods ship to distributors or end customers. The mix is best described as follows: ### Value-chain position and channels The company is a vertically integrated designer and manufacturer (R&D, manufacturing and brand ownership). Per the FY2025 10-K, about two-thirds of dental consumable and technology/equipment sales go through third-party distributors. Endodontic instruments and materials, implants and orthodontic aligners and appliances are often sold directly to dental labs or professionals. Continence-care products are sold primarily to medical-supply distributors, with the remainder sold direct to patients and providers. **Customer concentration (FY2025 10-K):** - Henry Schein accounted for 13% of FY2025 net sales, down from 14% in FY2023. - Patterson Companies accounted for 11% of accounts receivable at year-end 2025. - No customer exceeded 10% in FY2024. ### Customer types and end-markets - **Customers:** general dental practitioners; specialists (endodontists, orthodontists, oral surgeons, periodontists, prosthodontists); dental laboratories; dental service organisations (DSOs, for example PDS Health); dental schools; hospitals; and urology/gastro patients and providers (Wellspect). - **End-markets:** global professional dental equipment and consumables, dental implants and biomaterials, clear aligners and orthodontics, dental lab/CAD-CAM, and intermittent catheterisation and transanal irrigation. ### Independent characterisation Dentsply Sirona is a scale-advantaged but structurally challenged incumbent. It has the broadest dental portfolio in the industry and an installed base of CEREC/Primescan workflows. However, it has lost share in digital (intraoral scanners and chairside CAD/CAM) to faster-moving rivals (3Shape, Medit, Align iTero) on price and openness. It has also damaged dealer relationships through a 2024 ERP migration and channel-inventory practices, and destroyed capital on Byte. The consumables franchise (EDS) is the profit engine. Its segment adjusted operating income was USD 403m in 9M FY2025, versus only USD 29m from CTS over the same period. The equipment business is near break-even at the segment level. The investment case rests on whether the 2026 dealer-network rebuild and the R&D step-up (to at least 5% of sales) can stabilise CTS and OIS before balance-sheet covenants tighten in 2027.

Company Headquarters: California, US Founded: 1997 Workforce: ~13,685+ Company Working: Align Technology, Inc. (Align Technology) is a company manufacturing medical devices. The company is into designing, manufacturing, and marketing of Invisalign system, intra-oral scanners and CAD/CAM digital services used in dentistry, orthodontics, and dental records storage. Its product portfolio comprises Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, restorative, and aesthetic dentistry. Its products are primarily used for the treatment of malocclusion or the misalignment of teeth. The company also sells other ancillary products for the iTero scanner, such as disposable sleeves for the wand. Align Technology has a business presence across North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. It operates through the clear aligner and scanner and services segments. The clear aligner segment consists of Invisalign full, teen and assists products, and Vivera retainers along with training and ancillary products for treating malocclusion. The scanner and services segment comprise of intraoral scanning systems and additional services available with intraoral scanners that provide digital alternatives to traditional cast models. The Invisalign system is offered in more than 90 countries worldwide by Invisalign-trained doctors to their adult and teenage patients. Its Invisalign system has treated more than 7.2 million patients including 1.7 million teenagers.

Company Headquarters: Luxembourg Founded: 1987 Workforce: 45,000 Company Working: Eurofins Scientific is a leader in analytical testing services that provides clinical tests and laboratory services in drug discovery pharmacology, genomics, forensics, contract manufacturing organization (CMO), advanced material sciences, and for supporting clinical studies across multiple industries. Pharmaceutical, environment, food, and cosmetics are the major clients for Eurofins Scientific’s products. The company has around 800 laboratories across 47 countries. It has a portfolio of over 200,000 analytical methods to evaluate and identify the safety, composition, authenticity, purity, and origin of biological substances and products, also used in clinical diagnostics. Geographically, the company operates in North America and South America, Europe, and Asia-Pacific.

Company Headquarters: Massachusetts, US Founded: 1947 Workforce: ~ 18,600 Company Working: Charles River Laboratories provides clinical testing and drug development services for vaccines, biosimilars, and medicines to treat several chronic diseases such as cardiovascular, skeletal, endocrine, central nervous system, cancer, and other diseases. It offers its services all around the world. The company operates through three segments, namely, Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Support (MS). The RMS segment sells research model strains and purpose-bred rats and mice for use by researchers. It also offers research models, genetically altered models & services, insourcing solutions, and research animal diagnostic services to help clients support the use of research models in research and screening of non-clinical drug candidates. The DSA segment provides early and in vivo discovery services, including toxicology, pathology, safety pharmacology, bioanalysis, drug metabolism, pharmacokinetics services, and safety assessment services, including toxicology, pathology, and safety pharmacology, bioanalysis, drug metabolism, and pharmacokinetics. In-vitro methods for conventional and quick quality control testing of sterile and non-sterile medicines and consumer products are provided by the manufacturing section. It operates in more than 20 countries, along with 90 sites around the globe.

Company Headquarters: Cambridge, US Founded: 2003 Workforce: ~51–200 Company Working: AVROBIO, Inc. (AVROBIO) is a phase two clinical-stage gene therapy company. The company’s Plato platform includes a proprietary vector system, automated cell manufacturing solution, and refined conditioning regimen with therapeutic drug monitoring. AVROBIO is headquartered in Cambridge, US, and has offices in Toronto.

Company Headquarters: San Francisco, US Founded: 2013 Workforce: ~500 Company Working: Audentes Therapeutics (Audentes) is a clinical-stage biotechnology company. The company is involved in developing adeno-associated virus-based (AAV) genetic medicines. Audentes is developing AT132, used for the treatment of X-linked myotubular myopathy; AT845, for the treatment of Pompe disease; AT342 to treat Crigler-Najjar syndrome; and AT307 to treat CASQ2 subtype of catecholaminergic polymorphic ventricular tachycardia (CPVT), and is involved developing vector-based antisense treatments for the treatment of myotonic dystrophy.

Company Headquarters: Cranbury, US Workforce: ~1,000 Founded: 2002 Company Working:Amicus Therapeutics, Inc (Amicus) is an international, patient-dedicated biotechnology company that develops and delivers innovative, high-quality medications for patients living with rare metabolic diseases. Amicus expanded its business in 27 countries across the globe with headquarters in Cranbury, US. The company’s international offices are located in Canada, Germany, France, Australia, Japan, Italy, the Netherlands, and Spain.

Company Headquarters: California, US Founded: 1997 Workforce: ~: 2,400+ Company Working: NuVasive, Inc. (NuVasive) is a leading medical device company in the global spine surgery market, focused on developing minimally disruptive surgical products and procedurally integrated solutions for spine surgery. The company’s currently marketed product portfolio is focused on applications for spine fusion surgery, including ancillary products and services used to aid in the surgical procedure. The company’s procedurally integrated solutions use innovative, technological advancements, and a minimally disruptive surgical platform called Maximum Access Surgery (MAS), to provide surgical efficiency, operative reliability, and procedural versatility. Its international headquarter is located in Amsterdam, Netherlands.

Company Headquarters: Dublin, Ireland Founded: 1949 Workforce: ~91,000 Company Working: Medtronic plc (Medtronic) is a global healthcare solutions company that focuses on improving the lives of people through medical technologies, solutions, and services. The company with Covidien has accelerated and advanced its abilities to create meaningful innovations for hospitals, health systems, and healthcare providers. The company’s businesses majorly fall into four groups: the Cardiac and Vascular Group (CVG), the Restorative Therapies Group (RTG), the Diabetes Group, and the Minimally Invasive Therapies Group (MITG). Medtronic operates from over 370 locations in almost 160 countries. The company has been at the forefront of the cardiac telemedicine industry with patented technologies such as ambulatory devices with unified analysis & reporting software and on-site diagnostic systems. The company is committed to advancing science in patient monitoring. The company is awarded more than 4,600 patents.

Company Headquarters: Pennsylvania, US Founded: 1985 Workforce: ~830+ Company Working: Exactech, Inc. (Exactech) develops and produces innovative bone and joint restoration products that help surgeons worldwide make patients more mobile. Exactech distributes its products in more than 30 markets. The company has engineering innovative solutions for knee, hip, extremities, foot and ankle, and advanced surgical technologies. The company develops and produces innovative implants, instrumentation, and computer-assisted technologies for joint replacement surgery as well as biologic materials and bone cement systems. It has products that are distributed throughout the US and in 35+ markets in Europe, Latin America, Asia, and the Pacific.

Company Headquarters: Massachusetts, US Founded: 1895 Workforce: 18,000 + Company Working: DePuy Synthes is a subsidiary of Johnson & Johnson Services, Inc. The company is involved in manufacturing and marketing of orthopedic and neurological devices. It operates through business segments including joint reconstruction, trauma, spine, sports medicine, neuro, cranio-maxillofacial, power tools, and biomaterials. Additionally, it is engaged in manufacturing of reconstruction solutions for hip, knee, and shoulder replacement and trauma devices for internal and external fixation, implants, and instruments. It is directly present in more than 60 countries and operates in all major markets.

Company Headquarters: California, US Founded: 1990 Workforce: ~195 Company Working: Alphatech Holdings, Inc. (Alphatech) is a medical technology company that focuses on the design, development, and advancement of technology for better surgical treatment of spinal disorders. The company, through its subsidiary, Alphatec Spine, Inc., provides spine surgery solutions. It has a broad product portfolio designed to address the majority of the US market for fusion-based spinal disorder solutions. The company markets and sells its products in the US through a network of independent distributors and direct sales representatives. It partners with new and existing distributors to create a more dedicated and loyal sales channel for the future. It also plans to add new eminent distributors to expand future growth.

Company Headquarters: Laval, Canada Founded: 1959 Workforce: ~21,700 Company Working: Bausch Health Companies Inc. (Bausch Health) is one of the leading multinational specialty pharmaceutical company. The company develops, manufactures, and markets products for therapeutic areas such as gastroenterology (GI), dermatology, and eye health. It provides a broad range of over-the-counter (OTC) products, generic and branded generic pharmaceuticals, medical device, and branded pharmaceuticals. It was formerly known as Valeant Pharmaceuticals International, Inc. and changed its name to Bausch Health Companies Inc. effective from July 2018. Bausch Health Companies Inc. provides its dermatology products through its segment named Ortho Dermatologics.

Company Headquarters: Lewisville, Texas, US Founded: 1980 Workforce: ~954 Company Working: Orthofix Holdings, Inc. (Orthofix) is a company that manufactures medical devices. It focuses on musculoskeletal therapies and products. The company operates through four operating segments, namely, bone growth therapies, spinal implants, biologics, and Orthofix extremities. The products manufactured and marketed by the company include devices that enhance bone fusion (bone growth therapies segment), implants used in spine surgeries (spinal implants segment), regenerative products and different forms of tissues to treat orthopedic and spinal conditions (biologics), and products to treat orthopedic conditions not related to the spine (Orthofix extremities segment). Orthofix Holdings, Inc. distributes its products via sales distributors and representatives in over 70 countries.

Company Headquarters: Rhode Island, US Founded: 1985 Workforce: 191 Company Working: Summer Infant, Inc. is a renowned company in the juvenile industry. It provides a wide range of high-quality and innovative products for babies and toddlers. Early in 2019, the firm declared a new brand under the name ‘SUMR” brands. It operates in one business segment and markets over 1,100 products in different product categories such as safety, monitoring, nursery, and baby gear. Summer Infant, Inc. offers some well-known brands in the global market, including Summer, born free, and SwaddleMe. Summer Infant, Inc. delivers and sells its products through retailers, company websites, and online platforms that include Amazon, Wal-Mart, Target, Buy Baby, Home Depot, and Lowe's. It has manufacturing plants that operate in China, the US, and Mexico.

Company Headquarters: Basel‎, Switzerland Founded: 1996 Workforce: ~126,000 Company Working: Novartis AG (Novartis) was established in 1996 through a merger of Ciba-Geigy and Sandoz. Novartis and its preceding companies have been known to develop innovative products which can be traced back to over 250 years. The company focuses on the development and marketing of products that contribute to human progress through advances in science and health. It provides products that find applications in cancer, cardio-metabolic, immunology and dermatology, ophthalmology, neuroscience, and respiratory disease areas. Its Sandoz segment offers active ingredients and finished dosage forms of pharmaceuticals in cardiovascular, dermatology, central nervous system (CNS), gastrointestinal and hormonal therapy, metabolism, oncology, ophthalmic, pain, and respiratory areas, among others. It also provides active pharmaceutical ingredients (API) and intermediates primarily antibiotics, protein- or other biotechnology-based products including biosimilars, and biotechnology manufacturing services.

Company Headquarters: Colorado, US Workforce: 27+ Founded: 1989 Company Working: The Boppy Company, LLC, is a global leader in the pregnancy pillow market and is involved in the manufacture and sale of pregnancy and baby care products. The company is a subsidiary of Artsana S.p.A. (Italy) which offers a wide range of products including nursing pillows, baby carriers, nursing pillow slipcovers, newborn loungers, pregnancy pillows, nursing covers & scarves, and other healthcare products. It offers its product portfolio through online channels, retailers, and supermarkets and is present in more than 25 countries. Moreover, it has a strong footprint in North America, Latin America, Europe, and the Middle East.

Roche is the world's largest biotechnology company and the global leader in in-vitro diagnostics, and it is the only major healthcare group that operates both at scale under one roof. Founded in Basel in 1896, it generated CHF 61.5 billion of sales in 2025 across two divisions — Pharmaceuticals (CHF 47.7 billion) and Diagnostics (CHF 13.8 billion) — with a core operating margin of 35.5% and core EPS of CHF 19.46. Control rests with the founding Hoffmann and Oeri families, whose pooled voting block held 64.97% of the bearer shares at 31 December 2025, an ownership structure that underwrites an unusually long investment horizon: 39 consecutive dividend increases and CHF 12.2 billion of core R&D in 2025. Strategically, Roche is converting a legacy oncology franchise into a broader portfolio anchored in cancer, cardiovascular–metabolic disease (notably obesity) and neurology, while defending an installed diagnostics base against Chinese pricing reform and US trade and pricing policy. --- ### What the company does Roche discovers, develops, manufactures and commercialises prescription medicines and in-vitro diagnostic systems, assays and software. It is organised into two reporting divisions plus a Corporate centre. The Pharmaceuticals Division comprises Roche Pharmaceuticals (including the wholly owned US biotechnology business Genentech, based in South San Francisco) and Chugai Pharmaceutical of Japan, in which Roche Holding held 59.89% of issued shares and 61.12% of voting rights as of early 2025. The Diagnostics Division sells instruments, reagents, consumables and digital solutions to central laboratories, molecular laboratories, pathology laboratories and decentralised/near-patient settings, and includes Foundation Medicine (comprehensive genomic profiling), Ventana/Roche Tissue Diagnostics, Roche Diabetes Care and Roche Information Solutions. Roche's own framing, per its FY2025 corporate boilerplate, is that it was founded in 1896 as one of the first industrial manufacturers of branded medicines and has become the world's largest biotechnology company and the global leader in in-vitro diagnostics, pursuing personalised healthcare by combining pharmaceuticals, diagnostics and clinical-practice data insights. Its investor materials state that the two divisions jointly focus on three disease areas expected to account for almost 50% of the global disease burden by 2035: cancer, cardiovascular–metabolic disease and neurological disease. **Independent characterisation.** Roche is best understood as two structurally different businesses stapled together by a personalised-medicine thesis. Pharmaceuticals is a high-margin, patent-cliff-exposed innovation business: it earned a 49.2% core operating margin in 2025 on CHF 47.7 billion of sales and delivered CHF 19.5 billion of operating free cash flow, but its economics depend on replacing expiring franchises faster than biosimilars erode them. Diagnostics is a capital-intensive, razor-and-blade instrument-and-reagent business with far thinner economics — a 14.4% core operating margin in 2025, down 1.1 percentage points, and only CHF 0.7 billion of operating free cash flow on CHF 13.8 billion of sales after a 17% increase in capital expenditure. The strategic case for keeping them together (companion diagnostics, patient selection, real-world data) is real but has never been visible as a quantified margin premium in the segment disclosures. In practice, the Group's cash generation and valuation are driven overwhelmingly by Pharmaceuticals. ### Revenue model Roche reports "Revenue" of CHF 63,356m for 2025 (sales of CHF 61,516m plus other revenue of CHF 1,840m). There is no subscription line; the closest analogue is the recurring reagent and service annuity generated by the installed diagnostics instrument base, which Roche does not disclose separately. ### Value chain position, customers and end markets Roche is a fully integrated originator: it runs its own discovery organisations (pRED in Basel, gRED at Genentech, plus Chugai's independent research), its own late-stage development function under the Chief Medical Officer, its own biologics and device manufacturing network, and its own commercial affiliates in more than 100 countries. It supplements internal discovery with in-licensing and bolt-on M&A — CHF 4.8 billion of intangible assets were recognised in the Pharmaceuticals Division in 2025 from in-licensing, business combinations and asset acquisitions. Customers are payers and reimbursement authorities (the economic buyer in most markets), hospital systems and specialist prescribers, central and reference laboratories, pathology laboratories, blood-screening organisations, retail pharmacy and, increasingly in the US, direct-to-consumer channels via the TrumpRx platform. End markets by therapeutic area in Pharmaceuticals for 2025 were Oncology/Haematology 50.2% of divisional sales, Neurology 20.6%, Immunology 14.1%, Ophthalmology 8.8% and other areas 6.3%.

Company Overview Company Headquarters: Pennsylvania, US Founded: 1961 Workforce: 35,000+ Company Working: Mylan N.V. (Mylan) is a leading global pharmaceutical company. The company develops, licenses, manufactures, markets, and distributes generics, branded generics, brand name, and over-the-counter (OTC) products in a variety of dosage forms and therapeutic categories. Its global portfolio constitutes more than 7,500 marketed generic and branded generic brand names and OTC products around the world covering a vast array of therapeutic categories. Mylan’s team works in various offices and manufacturing facilities across the world. It has global centers in Bangalore, India; Canonsburg, Pennsylvania; and Dublin, Ireland. Its global research and development (R&D) centers are situated in Hyderabad, India, and Morgantown, West Virginia. It also has 12 technology-focused R&D sites across Europe, India, Japan, and the US. It adheres to the highest quality standards across its 50 manufacturing facilities worldwide

Company Headquarters: Reading, UK Founded: 1978 Workforce: 10,000 Company Working: Convatec Inc produces and sells medical equipment. It offers products for advanced wound, ostomy, continence, and infusion treatment for acute-care hospitals and chronic-care facilities. Infusion care, advanced wound care, ostomy care, continence, and critical care, and are the four main business categories that the company concentrates on. The company's main products include urological catheters, skin care products, disposable infusion sets, wound dressings, diabetes, ulcers, multiple sclerosis, spina bifida, and other devices and accessories. The company's main products include urological catheters, skin care products, disposable infusion sets, wound dressings, diabetes, ulcers, multiple sclerosis, spina bifida, and other devices and accessories. Additionally, it provides products directly and via a network of distributors to hospitals, homecare agencies, pharmacies, insulin pump makers, and retail distributors in the homecare industry. The corporation also operates business throughout the Americas, Europe, Asia-Pacific, Middle East, and Africa.

Company Headquarters: Männedorf, Switzerland Founded: 1980 Workforce: 1,932 Company Working: Tecan Trading AG (Tecan Trading) is a leading provider of automated laboratory instruments and solutions. The company operates through two business segments, namely, the life science segment and the partnering segment. Tecan Trading has hundreds of patents that strengthen its competitive position for a variety of products and applications. The company’s products and services help researchers and healthcare professionals to work on drug discovery, translational research, and clinical diagnostics to develop new technologies and drugs. The company produces automated workflow solutions that empower laboratories. The company has a wholesale distribution of medical instruments apparatus and surgical equipment.

Company Headquarters: Milford, Massachusetts, US Founded: 1958 Workforce: 7000 Company Working: Waters Corporation is an analytical company that provides analytical workflow solutions involving liquid chromatography, mass spectroscopy, and thermal analysis innovation. It designs, manufactures, and sells high-performance liquid chromatography (HPLC), ultra-performance liquid chromatography (UPLC), and mass spectrometry (MS) technology systems.

Company Headquarters: US Founded: 1937 Workforce: ~13,000 Company Address: PerkinElmer Inc, 331 Treble Cove Rd, Billerica, Massachusetts, 01862 US. Contact Details: Product Sales: California (1-408-232-0653); Puerto Rico (1-787 783 3067); Connecticut (1-203-905-4600); Investor Relation Contact (ir@perkinelmer.com Tel: (781) 663 6900, Address: 940 Winter Street, Waltham, MA 02451 US) Company Working: PerkinElmer Inc (PerkinElmer) is largely engaged in providing solutions to diagnostics, delivery, and analytical solutions markets. The company deals in creating innovative solutions for better and fast diagnosis of various health issues worldwide. It pioneers in scientific technologies for better detection, imaging, and informatics. The company serves its customers in over 150 countries. PerkinElmer has nearly 3,500 patents active and operates in clinical research, life sciences, food, environmental, and industrial markets.

Company Headquarters: California, US Founded: 1970 Workforce: ~100 Company Working: FUJIFILM Irvine Scientific operated as a subsidiary of Fujifilm Corporation as of June 2018. It is a renowned leader in the innovation and manufacture of cell culture media, reagents, and medical devices for researchers and clinicians. The company operates dual cGMP manufacturing facilities in California and Tokyo. It offers a broad range of prenatal, diagnostics, & cytogenetics products, reproductive media products, classical media products, and culture media solutions.