Coppersmith Presentation to Alere Inc Stockholders
PAGE 17 |
Core Diagnostics Declines in HM's Shadow
HM's decline has been so dramatic, it has drawn attention away from the worrisome trends in the core diagnostics business
▪ We believe core diagnostics' decline is the result of both poor execution and operational neglect due to management's
single-minded focus on 'connected health'
Prof. Diagnostics Organic Growth
10.0%
9.0%
8.0%
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
2009
2010
2011
34.0%
32.0%
30.0%
28.0%
26.0%
24.0%
22.0%
20.0%
2012
2009
64.0%
63.0%
62.0%
61.0%
60.0%
59.0%
58.0%
57.0%
56.0%
55.0%
54.0%
53.0%
2010
Prof. Diagnostics Operating Margin
||
2011
Prof. Diagnostics Gross Margin
2009
2012
COPPERSMITH
2010
2011
2012
Increasing the much-needed focus on the core business may be the best reason to simplify
Alere through divestitures, de-leveraging and operational rationalizationView entire presentation