Company: Hologic, Inc.
Liaison(s): Allan Harris
Hologic, Inc. is a leading global healthcare and diagnostics company, specializing in technology designed to improve women’s health through Breast and Skeletal, Diagnostic, and GYN surgical solutions. Headquartered in Massachusetts with bicoastal and international locations, Hologic captures roughly 39% of the molecular diagnostics market, and aims to remain the market leader in the molecular diagnostics and cytology segments for women’s health. In the fiscal years of 2014 and 2015, the company produced revenues of $2.5B and $2.7B respectively, with a 33.3% non- GAAP operating margin and $697M in free cash flow for fiscal year 2015. Over the last few years, product differentiation within the mature diagnostics segments particularly cytology and cervical cancer screening has dramatically decreased. As a result, a shift in focus to non-product factors is anticipated. This drives a growing need to understand the competitive landscape, specifically how non-product factors drive sales and client retention. Considering the upcoming launch of the Panther Fusion platform, it is important that Hologic focuses on non-product factors to retain and grow its domestic customer base and expand internationally to decrease dependencies on domestic revenue. To this degree, the KGI team used market survey methods to sub-segment the current Hologic customer base and competitive landscape. Multivariate analysis was used to understand the survey results and identify top factors driving a customer’s likelihood to retain Hologic products and recommend the brand to others. After the first phase of research, the team deployed a second survey to explore key performance indicators ( KPIs ) within the top factors. The KPIs of most significant importance were compiled and mapped against Hologic’s currently tracked internal metrics to recommend new management goals and align metrics to better monitor progress towards optimal customer experience.