Dade Behring
Encyclopedia
Dade Behring was a company which manufactured testing machinery and supplies for the medical diagnostics industry, based in Deerfield, Illinois
and Glasgow, Delaware
(formerly a du Pont site).
Dade International was a private, independent company created by a group of investors led by Bain Capital
who bought Baxter International
's diagnostics unit for over $440 million, in late 1994. The new firm became the world's largest company devoted to diagnostics, with sales of over $500 million. The "Dade" part of the name is a legacy of the "Dade Reagents Company", founded by Dr. John Elliott near the end of the 1940s to provide consistent, high quality typing and testing of blood.
Behring Diagnostics, a company bearing Dr. von Behring's name, was spun off from Hoechst AG
(which later became Aventis) in 1995. Soon after its formation, the company acquired a drug-testing firm called Syva Company and the diagnostics and clinical chemistry division of du Pont in 1996..
Jim Reid-Anderson
joined Dade Behring Holdings Inc, in 1996 as Executive Vice President and Chief Financial Officer (CFO) and became Chief Administrative Officer and CFO in September 1997.
Nelson Chai
joined Dade Behring in 1997 as corporate vice president of worldwide field finance; he later became their senior vice president of business development.
was on the board of directors and an influential figure in the reorganization.
By 2005, the firm employed more than 6,000 workers and had operations in 43 countries to serve more than 25,000 medical customers.
and Roche
, whose operations covered other markets including the pharmaceutical industry.
.. Based on Dade’s 83 million outstanding shares, Siemens’ offer of $77 a share
in cash, on a diluted basis, had a value of nearly $6.4 billion.
Deerfield, Illinois
Deerfield is a village in Lake County, Illinois, United States and is located approximately 25 miles north of Chicago, Illinois. A portion of the village is in Cook County, Illinois, United States...
and Glasgow, Delaware
Glasgow, Delaware
Glasgow is a census-designated place in New Castle County, Delaware, United States. The population was 12,840 at the 2000 census.-Geography:Glasgow is located at ....
(formerly a du Pont site).
1997
Dade Behring was born from the merger of Behring Diagnostics and Dade International. The combined operations of the two companies reached sales of $1.2 billion and employed a workforce of 6,400 worldwide.Dade International was a private, independent company created by a group of investors led by Bain Capital
Bain Capital
Bain Capital LLC is a Boston-based private equity firm founded in 1984 by partners from the consulting firm Bain & Company. Originally conceived as an early-stage, growth-oriented investment fund, Bain Capital today manages approximately $65 billion in assets, and its strategies include private...
who bought Baxter International
Baxter International
Baxter International Inc. , is an American health care company with headquarters in Deerfield, Illinois. The company primarily focuses on products to treat hemophilia, kidney disease, immune disorders and other chronic and acute medical conditions...
's diagnostics unit for over $440 million, in late 1994. The new firm became the world's largest company devoted to diagnostics, with sales of over $500 million. The "Dade" part of the name is a legacy of the "Dade Reagents Company", founded by Dr. John Elliott near the end of the 1940s to provide consistent, high quality typing and testing of blood.
Behring Diagnostics, a company bearing Dr. von Behring's name, was spun off from Hoechst AG
Hoechst AG
Hoechst AG was a German chemicals then life-sciences company that became Aventis Deutschland after its merger with France's Rhône-Poulenc S.A. in 1999...
(which later became Aventis) in 1995. Soon after its formation, the company acquired a drug-testing firm called Syva Company and the diagnostics and clinical chemistry division of du Pont in 1996..
Jim Reid-Anderson
Jim Reid-Anderson
Jim Reid-Anderson is the Chairman, President & CEO of Six Flags and was previously a healthcare adviser to both Apollo and the managing board of Siemens AG, a worldwide manufacturer and supplier of electronics and electrical engineering in the industrial, energy and healthcare sectors.-Personal:He...
joined Dade Behring Holdings Inc, in 1996 as Executive Vice President and Chief Financial Officer (CFO) and became Chief Administrative Officer and CFO in September 1997.
Nelson Chai
Nelson Chai
Nelson J. Chai is an American investment banker. He formerly served as the chief financial officer of American financial services company Merrill Lynch and briefly as Bank of America's president for the Asia-Pacific region...
joined Dade Behring in 1997 as corporate vice president of worldwide field finance; he later became their senior vice president of business development.
1998 - 2002
In April 1999, Reid-Anderson was promoted to the role of President and Chief Operating Officer and then CEO in September 2000. He was elected as the Chairman of the Board in October 2002.2002 - 2005
In 2002 the company filed for Chapter 11 bankruptcy, but then reorganized and recovered in a spectacular way. Brad PattelliBrad Pattelli
Brad Pattelli is a former vice president of Angelo, Gordon & Co, an arbitrage firm headquartered in New York City, New York . He is currently serving as President of LC Advisors, a subsidiary of Lending Club, an online platform for investing in personal loans....
was on the board of directors and an influential figure in the reorganization.
By 2005, the firm employed more than 6,000 workers and had operations in 43 countries to serve more than 25,000 medical customers.
2006
With 2006 revenue of more than $1.7 billion, Dade Behring was the world's largest company solely dedicated to clinical diagnostics, as opposed to competitors like AbbottAbbott
Abbott is a title given to the head of a monastery.Abbott may also refer to:-People:* Abbott , for people named Abbott* Abbott Handerson Thayer , American painter and naturalist-Places in the United States:* Abbott, Arkansas...
and Roche
Roche
Roche is French for "boulder/rock". The word is several names:-Business & companies:* Hoffmann–La Roche AG, Basel, Switzerland, one of the largest pharmaceutical companies in the world....
, whose operations covered other markets including the pharmaceutical industry.
2007
In 2007 Dade Behring was acquired by the German conglomerate Siemens AGSiemens AG
Siemens AG is a German multinational conglomerate company headquartered in Munich, Germany. It is the largest Europe-based electronics and electrical engineering company....
.. Based on Dade’s 83 million outstanding shares, Siemens’ offer of $77 a share
Share (finance)
A joint stock company divides its capital into units of equal denomination. Each unit is called a share. These units are offered for sale to raise capital. This is termed as issuing shares. A person who buys share/shares of the company is called a shareholder, and by acquiring share or shares in...
in cash, on a diluted basis, had a value of nearly $6.4 billion.
People associated with Dade Behring
- Daryl MetcalfeDaryl MetcalfeDaryl D. Metcalfe is an American politician currently serving in the Pennsylvania House of Representatives. Metcalfe is a member of the Republican Party and has represented the 12th legislative district since 1999...
was a Dade Behring employee, prior to entering politics. - Samuel K. Skinner was on the board of directors.