Casey Woodring
JPMorgan Chase & Co, Research Division
All right. Great. Welcome to JPMorgan Healthcare Conference. I’m Casey Woodring from the Life Science Tools and Diagnostics team. Pleased to be joined by Waters’ CEO, Udit Batra.
Udit is going to go through the corporate presentation, and then we’ll leave some time at the end for Q&A. Udit, all you.
Udit Batra
President, CEO & Director
Thank you, Casey, and good afternoon, everyone. Roughly five years ago, we started a transformation process that has led to an increase in our commercial strength, revitalization of innovation and entry into fast-growing adjacencies for Waters. And that has then allowed us to make the acquisition of BD’s Bioscience and Diagnostics business.
So today, I’ll talk to you a bit about how we’re executing from a position of strength. With the acquisition of BD’s Bioscience and Diagnostics business, how we see the next few years for value creation for our corporation. And finally, I’ll give you a bit of a hint on what’s to come from a strategic and financial perspective over the next few years.
So let’s start. For those of you who are not familiar with the Waters story, this chart is new. Basically, on the left-hand side, you see that we start with significant unmet needs for our customers that invest roughly 10% of product sales in R&D to take highly complex instrumentation and turn them into systems that are useful and used in high-volume regulated applications. These systems have four parts. First, instruments, roughly 170,000 of those are placed across all our customers in regulated laboratories and other laboratories. The data from these instruments
