When a diagnosis can mean the difference between going home and being admitted to the hospital, accuracy and speed matter.
Having helped shape today’s modern medical diagnostics industry, Abbott knows that tomorrow’s testing systems and blood screening technologies must build on today’s high standards set by doctors and patients.
Because 70 percent of critical decisions leverage a test result, being a leader in this area carries an obligation to get it right and quickly perform those tests in a cost-effective, accurate way for providers. For Abbott shareholders, the health technology company’s strength in diagnostics has helped fuel years of financial stability and is poised to help increase its sustainable growth rate.
“Diagnostics has been our most consistent growth business over the past several years,” said Miles D. White, chairman and chief executive, to investors on a call with analysts. In Abbott’s unveiling of life-changing technologies that drive sustainable growth, the diagnostic testing area will play an even larger role in patient care and shareholder return.1
Strong Launch for Latest Diagnostic Line
One of the most promising areas in the diagnostic space is the launch of the Alinity family of systems that culminates after years of customer-focused research. Alinity’s scientists and engineers collaborated closely with labs to learn about the issues they face every day: higher testing volumes, a lack of staffing and space, and complex, time-intensive processes and instruments.
Each Alinity system includes features that help institutions, clinicians and laboratorians better navigate a pressure-packed healthcare environment. The launch of the Alinity family of solutions began in 2016 and will continue into 2019 and beyond, giving analysts optimism around improved results for the greater diagnostics business and for Abbott’s long-term sustainability.
Learn more about Alinity’s advantages here.
Diagnostics as a group beat Wall Street expectations in the second quarter with 6.6 percent organic growth and are poised to accelerate the company’s expansion.
“This launch remains in the early innings and gives us confidence in a high single-digit diagnostics growth profile going forward,” said Raymond James analyst Jason Bedford in a note to investors in March.2
Diagnostics covers many Abbott product lines, which all strive toward accurately getting more results faster than before for providers. The results are essential data for patient care quality and outcomes.
Big Answers from a Small Drop of Blood
Abbott’s diagnostics legacy does more than just put critical medical information in the hands of doctors and patients; the company’s innovations address disease outbreaks and have helped doctors make improved treatment decisions. Other blood tests can quickly show whether someone has diabetes, is pregnant or has had a heart attack.
Abbott’s point of care diagnostics portfolio – enhanced significantly by our acquisition of rapid diagnostics technologies last year – brings the power of many of our life-changing tests to wherever patients are—whether it’s at major sporting events, in emergency rooms or in rural areas in developing countries.
“This is a very attractive area of diagnostics testing and our integration of this business into Abbott continues to go well as we put in place the building blocks to drive sustainable growth and margin expansion,” White told analysts during a recent earnings call.3
A Transfusion Leader
Abbott’s role in helping blood services around the world keep the global blood supply safe remains an important contributor in its overall diagnostics portfolio. More than 60 percent of the world’s blood supply is screened through Abbott instruments, and we’ve been improving blood screening technologies for more than 40 years to demonstrate our commitment to a safe blood supply.4
Only Abbott has a Global Surveillance Program that closely monitors evolving virus strains that can threaten health around the world. Over 20+ years, we’ve identified more than 5,000 virus strains by working with different partners to collect samples, helping track and understand HIV and viral hepatitis among many diseases.5
With 234 million major medical operations happening around the globe each year, the need for safe blood is constant.6 Abbott remains committed to helping blood services meet the next challenge: inspiring young people to become lifetime blood donors. With most blood donations made by people over 40 years old, young donors are not giving blood at a pace to ensure steady supplies.7 Abbott leads the BE THE 1™ Donor global campaign to encourage donations and emphasize the life-changing benefits of being a donor.
“We’re honored to help keep the world’s blood supply safe,” said Lou Morrone, vice president of Abbott’s Transfusion Medicine business. Abbott’s strength in transfusion is highlighted by World Blood Donor Day June 14, which celebrates more than 112 million annual donations that help save lives.8 “The urgent need to maintain that supply is why we’re committed to raising awareness around the need for people to become lifetime donors.”
Alinity’s Advantages Explained
*Editor's note: After a remarkable 21-year tenure, Miles White stepped down as Abbott's CEO on March 31, 2020. At that time, Robert Ford became the CEO of Abbott. Mr. White remains Abbott's Executive Chairman, serving on Abbott's Board of Directors.
References
1Q2018 Call Transcript, see PDF page 3
2Raymond James Note
31Q2018 Call Transcript, see PDF page 3, second paragraph
4Financial Infographic, see PDF page 17
5Global Viral Surveillance Infographic, see PDF page 18
6World Health Organization, Towards 100% Voluntary Blood Donation, see PDF page 39
7AABB Donor Hemovigilance Report, see PDF page 53
8World Health Organization, Blood Safety and Availability, see PDF page 55
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