Bruker Corp at Jefferies Healthcare Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Tycho Peterson - Jefferies LLC - Analyst : Maybe I'm Frank, I'll kick it off and coming off ASMS. I'm sure it was another interesting conference. You talked a little bit about some of the innovation that you're most excited about, maybe one or two of the products that you'd like to highlight?

Question: Tycho Peterson - Jefferies LLC - Analyst : Thank you.

Question: Tycho Peterson - Jefferies LLC - Analyst : On timsTOF recently called out 1,000 shipments. I think you were 600 as of the first quarter, maybe over 800 as at JPMorgan. So the pace is doing quite well and potentially picking up you, can you just talk a little bit about what's driving that acceleration? And how do you think about the potential market opportunity? And maybe also in the context of backlog to what degree you're working down backlog too.

Question: Tycho Peterson - Jefferies LLC - Analyst : You have a comment on backlog, what that looks like and to what degree you've been working that down.

Question: Tycho Peterson - Jefferies LLC - Analyst : Great. Let's talk about M&A, give you some softballs to start, let's get into the fun fact. So even busy Frank, I think you spent $1 billion in the past decade and $1.5 billion to six-months. Maybe just talk a little bit about, what maybe rationale on your self, what drove the strategy to kind of consolidate relatively quickly? Was it just being up to opportunistic of dislocation in the market? Was this kind of a pre-planned strategy to get more aggressive on M&A. Just maybe talk a little bit about what led to the wave and then we'll talk about some of the deals?

Question: Tycho Peterson - Jefferies LLC - Analyst : And I think among the controversies is one is just your ability to integrate a number of deals that want to talk a little bit about that process, how you go about it. You've obviously done more deals over the years, it's picked up. So you've got a better in a process, but just talk a little bit about how you approach integrating multiple deals at once?

Question: Tycho Peterson - Jefferies LLC - Analyst : There's some obviously a lot of talk about kind of the dilution around NanoString, in particular the street I think is [315] in earnings next year. Can you talk a little bit about this dilution taking account the NanoString offset as a factor in the legal fees. Are you able to kind of quantify what you think legal might be there? And then obviously, the accretion from the other side of the deals like ELITech?

Question: Tycho Peterson - Jefferies LLC - Analyst : And are you able to give back another legal question kind of quantify what you think you're going to spend on that? And what are the odds of a settlement. You had the kind of the win in Germany with US case, obviously is next year, but what do you think about potentially settling out of that?

Question: Tycho Peterson - Jefferies LLC - Analyst : that the guide on NanoString $8 million this year. I mean, you're kind of implying $100 million run rate. They did $120 million -- $165million last year. So maybe just talk a little bit about is that conservatism, there some academic budget pressures everybody's called out, I'll talk a little bit about how sensitive that business might be to some of the near-term pressures to in the academic markets?

Question: Tycho Peterson - Jefferies LLC - Analyst : There's a lot of debate about kind of the size and growth of the spatial market, but you have the benefit of being able to bundle right? I mean, can you talk a little bit about how easy is it to integrate with Canopy and from the other kind of assets you have?

Question: Tycho Peterson - Jefferies LLC - Analyst : Maybe shifting over to ELITech and molecular and kind of sample to answer here, talk a little bit about the strategy in that market. You've got obviously a number of players at the high throughput end and you've got the multi Biotyper for microbiology, other kind of synergies and opportunities under there?

Question: Tycho Peterson - Jefferies LLC - Analyst : Could, maybe just in the last minute, here, a budget question. Well, [two one] obviously is price pressure here in the US with NIH, NSF, talk a little bit about your comfort and the budget environment here in the US. And then as we think about China stimulus, I think there's a narrative that maybe you're under-indexed, this round relative to kind of some of your peers and some of these new markets, maybe debunk that myth for us? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 06, 2024 / 11:30AM, BRKR.OQ - Bruker Corp at Jefferies Healthcare Conference

Question: Tycho Peterson - Jefferies LLC - Analyst : In 30 seconds.

Question: Tycho Peterson - Jefferies LLC - Analyst : Great. Good to you see you.