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Brad T. Sauer, Executive Vice President, Health Care
- 1. 3M Health Care Business
Health Care Business – Investor Update
3M Investor Day – October 9, 2007
Brad T. Sauer, Executive Vice President
- 2. 3M Health Care Business
Health Care Market is Global, Steady and Growing
2001-06 CAGR
WW Health Care Spending
9.5% Growth Drivers
4,661 Growth Drivers
$US billions • •Aging population
Aging population
14.5% • •Rising middle class in
588
Rising middle class in
developing regions
developing regions
3.1%
462
• •Increasing cost of care,
Increasing cost of care,
2,957 need for innovation
need for innovation
11.5%
1,318 • •U.S. presidential order:
Developing markets* U.S. presidential order:
299
Quality of care and pricing
Quality of care and pricing
397
Developed Asia
transparency
transparency
Western Europe 764 • •Demand for aesthetic
Demand for aesthetic
solutions in oral care
solutions in oral care
2,293 8.9% • •Drug-resistant pathogens
Drug-resistant pathogens
North America increasing
1,497
increasing
• •Food safety is aagrowing,
Food safety is growing,
global concern
global concern
2001 2006
*Latin America, Eastern Europe, developing Asia and Africa
2
11-Oct-07 © 3M 2007 All Rights Reserved.
- 3. 3M Health Care Business
Health Care Financials*
Highlights
Sales
(YOY % Change)
($ millions)
Organic LC% has accelerated
+9%
1
+6%
+7%
for five consecutive quarters
+24%
Portfolio repositioned to focus
2
$3,237
$2,963
on higher-growth opportunities
$2,803
$1,950
$1,576
Operating in attractive segments
3
with strong underlying fundamentals
2004 2005 2006 1H06 1H07
LC% 2.9% 5.3% 8.5% 7.5% 19.9%*
Operating Income 2006 Sales by Geography
LAC 7% APAC 12%
+3%
+14%
+13%
+22%
$916
$888
$779
$546
$448
Europe 34%
2004 2005 2006 1H06 1H07
U.S. 47%
OI % 27.8% 30.0% 28.3% 28.4% 28.0%
3 *Excludes Pharma and special items in all periods. 1H07 includes 4.9% of local currency growth due to Pharma supply agreements. Refer to appendix for complete
reconciliation.
11-Oct-07 © 3M 2007 All Rights Reserved.
- 4. 3M Health Care Business
Health Care Portfolio Reconfiguration – 2006
Health
Drug
Dental & Information
Delivery
Medical Orthodontics Pharma
Systems
Systems
Focused Portfolio Of Strength Divested
Investment
Increase R&D For New Products
Redirection
Expand Sales Coverage
Penetrate Developing Countries
Synergistic Acquisitions
4
11-Oct-07 © 3M 2007 All Rights Reserved.
- 5. 3M Health Care Business
Medical
Infection Prevention Skin & Wound – Acute Care
Asepsis (Drapes) Tapes & Secural
Preps & Disinfection Skin Closure
Sterilization
Skin & Wound – Chronic Care
Assessment & Therapy
Skin Care & Protection
Electrodes & Plates Wound Care
Auscultation (Scopes)
Immobilization
5
11-Oct-07 © 3M 2007 All Rights Reserved.
- 6. 3M Health Care Business
Oral Care
Protemp™ 3 Clarity™ SL
Clinpro™ Sealant SmartClip™ Self-
Preventive Treatment Temporization Materials Bracket Ligating Bracket
Imprint™ 3 Lava™ Frame
Filtek™ Supreme
and Restoration
Impression Materials Lava™ CAD/CAM System
Composite Filling Materials
6
11-Oct-07 © 3M 2007 All Rights Reserved.
- 7. 3M Health Care Business
Drug Delivery Systems
Leveraging 3M Technologies and Manufacturing Processes
7
11-Oct-07 © 3M 2007 All Rights Reserved.
- 8. 3M Health Care Business
Health Information Systems
Medical Record Assessment
Payment Accuracy,
Patient Record
Patient Billing Codes
Document
Document HIM Compliance & Timing
Post-Discharge
Hospital Care
Processing Review
Creation
Document Review
Document Creation HIM (Medical Records) Processing
Coding & Grouping
Transcription Mobile Dictation
Storage Release of Info.
Document Imaging/Scanning Abstracting Document Management
Provides a front end solution Enhances productivity and Provide storage and document
for capturing data drives reimbursement management capabilities
8
11-Oct-07 © 3M 2007 All Rights Reserved.
- 9. 3M Health Care Business
Food Processing Safety
3M™ Uni-Lite ATP
3M™ Clean-Trace
Luminometer
3M Petrifilm™ Plates ATP Swab
3M Petrifilm™ 3M™ Quick Swabs End Product
3M Tecra™ E.coli Visual
Screening Systems
Plate Reader Immunoassay Test
9
11-Oct-07 © 3M 2007 All Rights Reserved.
- 10. 3M Health Care Business
Strong Portfolio
Medical Oral Care Drug Delivery Health Info. Food
Systems Systems Safety
HCB
Diagnostics Digital Dry Powder Quality Care Pathogen
Advanced Preventive Microneedles Patient Financial Detection
Faster
Wound Care Self-Ligating Services Hygiene
Growth
(10%+) Chronic Care Monitoring
Dressings Restoratives Transdermal Coding & Indicators
Acute Care Prosthodontics Inhalers Reimbursement
Steady
Growth Med Spec Bands & Tubes
(5-7%) Infection
Prevention
Diverse, Steady, Growing and Profitable
Diverse, Steady, Growing and Profitable
10
11-Oct-07 © 3M 2007 All Rights Reserved.
- 11. 3M Health Care Business
Health Care Business Growth Strategy
Growth
Strategy
Grow the Current International
Build New
Acquisitions
Core Business Growth
Businesses
• Bolt-ons • Digital Oral Care
• High-Impact • Sales Coverage
New Products - Technology • Preventive Oral Care • Appropriate Products
• Sales Coverage - Capabilities • Medical Diagnostics • More Localized
• Food Processing Safety Supply Chains
• Mid-Tier
• International • Microneedles
• Dry Powder Inhalation
• Patient Financial Services
11
11-Oct-07 © 3M 2007 All Rights Reserved.
- 12. 3M Health Care Business
Health Care Business Growth Strategy
Growth
Strategy
Grow the Current International
Build New
Acquisitions
Core Business Growth
Businesses
• Bolt-ons • Digital Oral Care
• High-Impact • Sales Coverage
New Products - Technology • Preventive Oral Care • Appropriate Products
• Sales Coverage - Capabilities • Medical Diagnostics • More Localized
• Food Processing Safety Supply Chains
• Mid-Tier
• International • Microneedles
• Dry Powder Inhalation
• Patient Financial Services
12
11-Oct-07 © 3M 2007 All Rights Reserved.
- 13. 3M Health Care Business
High Impact New Products
Adper™ Scotchbond™
Imprint™ 3 VPS Clarity™ SL Bracket SmartClip™ Bracket
Self-Etch Adhesive
Impressioning Material
Filtek™ Supreme Plus Lava™ Scan ST Protemp™ Crown
Universal & Flowable Temporization Material
Lava™ Milling Unit Scanner
Restoratives
13
11-Oct-07 © 3M 2007 All Rights Reserved.
- 14. 3M Health Care Business
High Impact New Products
Advanced Tegaderm™ BacLite™ Rapid
Ioban™ 2 Frame Littmann™ Electronic
Stethoscopes
Delivery CHG Dressing MRSA Test
Coban™ 2 Layer Advanced Chronic Healthcare Document Dose-Count Inhaler
Compression System Wound Dressing Management Systems
14
11-Oct-07 © 3M 2007 All Rights Reserved.
- 15. 3M Health Care Business
Health Care Business Growth Strategy
Growth
Strategy
Grow the Current International
Build New
Acquisitions
Core Business Growth
Businesses
• Bolt-ons • Digital Oral Care • Sales Coverage
• High-Impact
New Products - Technology • Preventive Oral Care • Appropriate Products
• Sales Coverage - Capabilities • Medical Diagnostics • More Localized
• Food Processing Safety Supply Chains
• Mid-Tier
• International • Microneedles
• Dry Powder Inhalation
• Patient Financial Services
15
11-Oct-07 © 3M 2007 All Rights Reserved.
- 16. 3M Health Care Business
Acquisitions: Supplementing Organic Growth
DMS – Chile
Surgical Drapes & Gowns
SBG GmbH Acolyte Biomedica Ltd.
Brontes Technologies
Coding & Grouping Rapid Pathogen Detection
Digital Oral Care
Neoplast - Thailand
Tapes & Dressings
Peridex® Oral Rinse
Response Biomedical (partnership)
SoftMed
Preventive Dentistry
End-to-End Health Info Mgmt Microbial Diagnostic Platform
Abzil - Brazil
Ortho Brackets
Steri-StripTM S Biotrace OMNI Oral Pharmaceuticals
Wound Closure Food Testing Preventive Dentistry
16 LingualCare iBraces™
“Invisible” Brackets
11-Oct-07 © 3M 2007 All Rights Reserved.
- 17. 3M Health Care Business
Health Care Business Growth Strategy
Growth
Strategy
Grow the Current International
Build New
Acquisitions
Core Business Growth
Businesses
• Bolt-ons • Digital Oral Care • Sales Coverage
• High-Impact
New Products - Technology • Preventive Oral Care • Appropriate Products
• Sales Coverage - Capabilities • Medical Diagnostics • More Localized
Supply Chains
• Mid-Tier • Food Processing Safety
• International • Microneedles
• Dry Powder Inhalation
• Patient Financial Services
17
11-Oct-07 © 3M 2007 All Rights Reserved.
- 18. 3M Health Care Business
Dental – Traditional Impression & Crown Process
Conventional Impression Pour Plaster Model Trim, Pin, and Cut Model
Wax Buildup and Sprue Cast, Grind, and Polish Porcelain Veneer
18
11-Oct-07 © 3M 2007 All Rights Reserved.
- 19. 3M Health Care Business
Lava™ Chairside Oral Scanner
“Digital Impressions”
Technology Obtained via Brontes Acquisition
Technology Obtained via Brontes Acquisition
19
11-Oct-07 © 3M 2007 All Rights Reserved.
- 20. 3M Health Care Business
Digital Workflow for Oral Care
Prosthodontics
Model Production CAD/CAM Crown / Bridge
Orthodontics
Custom Appliances Design
Virtual Model Custom
Virtual Model Custom Design Digital Appliances
20
11-Oct-07 © 3M 2007 All Rights Reserved.
- 21. 3M Health Care Business
New Business Opportunity: Medical Diagnostics
The Problem Goal: Help prevent spread and risk of infection
(Example: MRSA)
Infectious diseases
a global threat:
- MRSA - TB
- Staph aureus - VRE
- Flu A/B - C difficile
Cost of infectious diseases in Patient at hospital screened
US alone: for infectious diseases
Traditional
- 100,000 Lives per year
3M Solution
Method
- $6.2 Billion per year
Lab Test
Current screening methods
are too slow, ineffective
U.K., other parts of Europe
Culture
already setting standards 3M™ BacLite™
Slow, Labor intensive (Approved in Europe: MRSA)
Results: 2-3 days Results: 5 hours
21
11-Oct-07 © 3M 2007 All Rights Reserved.
- 22. 3M Health Care Business
Microneedles for Transdermal Drug Delivery
“Patches Instead of Injections”
Microneedles
Patch - Low Pain & Convenient
3M microreplication technology
Hollow Microneedles
Drug-Coated Microneedles For controlled delivery of larger doses
22
11-Oct-07 © 3M 2007 All Rights Reserved.
- 23. 3M Health Care Business
Health Care Business Growth Strategy
Growth
Strategy
Grow the Current International
Build New
Acquisitions
Core Business Growth
Businesses
• Digital Oral Care
• Bolt-ons • Sales Coverage
• High-Impact
• Preventive Oral Care
New Products - Technology • Appropriate Products
• Medical Diagnostics
• Sales Coverage - Capabilities • More Localized
• Food Processing Safety Supply Chains
• Mid-Tier
• Microneedles
• International
• Dry Powder Inhalation
• Patient Financial Services
23
11-Oct-07 © 3M 2007 All Rights Reserved.
- 24. 3M Health Care Business
Rapidly Growing in International Markets
3M Health Care Revenues
2006 Local Currency
Developing
Countries Growth:
Expanded sales
coverage Turkey 35%
India 30%
New products
Developed Russia 29%
tailored to
Countries* Gulf 25%
market needs
China 22%
Local Argentina 21%
manufacturing Thailand 21%
Malaysia 19%
Venezuela 18%
Korea 15%
*U.S., Canada, Western Europe, Japan, Australia, New Zealand
24
11-Oct-07 © 3M 2007 All Rights Reserved.
- 25. 3M Health Care Business
International: Products for Local Needs
Brasil IV Fix Dressing
Localized Electrodes
3
Microporous Surgical Tape
Tier 2 Dressing Tian Tu (Second Way)
China Brand
Rol ls Size
12.5mm x 9.1 m
24
1/2 inch x 1 0yd
1530A-0 Hypoallergenic
Tier 2 Paper Tape Korean Hand
Hygiene Line
Cleaning & Disinfecting
Tier 2 Drapes
Regional Localization
Hand Hygiene
25
11-Oct-07 © 3M 2007 All Rights Reserved.
- 26. 3M Health Care Business
New 3M Health Care Plant in China
On Schedule for 2008 Start-up
On Schedule for 2008 Start-up
26
11-Oct-07 © 3M 2007 All Rights Reserved.
- 27. 3M Health Care Business
International Health Care Acquisitions
DMS Chile S.A. – A leading manufacturer of surgical packs, drapes
and gowns. Based in Santiago, covers Latin America.
Neoplast Co. Ltd. – Manufacturer of surgical tapes, dressings, first
aid products. Based in Thailand, adds regional capacity.
Abzil Industria e Comercio Ltda. – Second largest orthodontic
products maker in Brazil. Expands our regional presence and
manufacturing capabilities.
Boosting Our International Capabilities
Boosting Our International Capabilities
27
11-Oct-07 © 3M 2007 All Rights Reserved.
- 28. 3M Health Care Business
Health Care Business Strategy
Growth
Strategy
Grow the Current International
Build New
Acquisitions
Core Business Growth
Businesses
• Digital Oral Care
• High-Impact • Bolt-ons • Sales Coverage
New Products • Preventive Oral Care
- Technology • Appropriate Products
• Sales Coverage - Capabilities • Medical Diagnostics • More Localized
• Food Processing Safety Supply Chains
• Mid-Tier
• Microneedles
• International
• Dry Powder Inhalation
• Patient Financial Services
Operational Excellence
• Supply Chain Performance • Quality
• Lean Six Sigma
• Productivity • Customer Service
• Sourcing
28
11-Oct-07 © 3M 2007 All Rights Reserved.
- 29. 3M Health Care Business
Accelerating Growth, Maintaining Premium Returns*
30.0%
20% 30%
18% 28.3% 28.3%
27.8%
16% 28%
Local Currency Growth Rate
Operating Income Margin
14% 26.4% 26.4%
12% 26%
24.6%
10%
8% 24%
Organic
6%
4% 22%
2%
0% 20%
2001 2002 2003 2004 2005 2006 1H2007
*Unaudited. Total Health Care without Pharma and Pharma Supply Agreement
1H07 with Pharma Supply Agreement: LC Growth = 19.9%, O.I. = 28.0%.
29
11-Oct-07 © 3M 2007 All Rights Reserved.
- 30. 3M Health Care Business
Health Care Business – Summary
Strong Portfolio
Drug Health Food
Delivery Information Processing
Oral Care
Medical Systems Systems Safety
Accelerating Profitable Growth
Grow the Current International
Build New
Acquisitions
Core Business Growth
Businesses
Well-Positioned for 8%+ Top-Line Growth at Premium Margins
Well-Positioned for 8%+ Top-Line Growth at Premium Margins
30
11-Oct-07 © 3M 2007 All Rights Reserved.
- 32. 3M Health Care Business
Health Care Financials*- Appendix
(YOY % Change)
Sales Highlights
($ millions) Pharma
+7%
+5%
+5%
Organic LC% has accelerated for five
1
$774
$797
consecutive quarters
$793
-1%
Portfolio repositioned to focus on
2
$390
$3,237
$2,963
$2,803
profitable opportunities
$1,950
$1,576
Operating in high growth segments
3
with strong underlying fundamentals
2004 2005 2006 1H06 1H07
LC% 0.6% 4.2% 6.0% 4.6% -4.6%
Operating Income 2006 Sales by Geography
+5%
+15%
LAC 7% APAC 12%
+7% $256
$226
$194
-4%
$120
$916
$888
$779
$546
$448
Europe 34%
2004 2005 2006 1H06 1H07
U.S. 47%
OI % 27.0% 29.6% 29.2% 28.9% 28.0%
32
*Includes Pharma in all periods; excludes special items.
11-Oct-07 © 3M 2007 All Rights Reserved.