Secrets Of Successful Family Businesses In Health Care

From company names you’ve known all your life to ones you may never heard of, the healthcare industry has some amazing industry leaders that provide amazing services. One thing you might not be aware of, some of these life changing companies are actually family owned businesses, started by family members, and some are still owned and even run by family members and founder’s descendants to this day. Working for “the family business” used to be a much more common occurrence than it is today, back when a particular trade was passed down from one generation to another. We wanted to highlight two successful family companies within the healthcare industry that have made a lasting impact on the health and wellbeing of people all over the world, and give you a peek inside our own.

Roche

Since 1896, Roche has been enhancing and aiding the health care communities of the world. Fritz Hoffman-La Roche founded Roche in 1896, knowing that the future of the medical world would be rooted in pharmaceutical products and medicines. As the industrial revolution was  taking Europe by storm, La Roche knew that manufacturing medicines would be the best and only way to fight the debilitating diseases of the time.

• Roche’s chemists and researchers came up with one of the first studies about the presence of  iodine in the thyroid, and how to move forward in treating thyroid disorders
• Roche expanded their factory in Germany and created an orange flavored cough syrup they named Sirolin, containing their own active ingredient named Thiocol. The cough syrup was an instant success and stayed on the market for over 60 years
• Roche lost their founder in 1920 but made scientific news with a study of biogenic amines, keeping them in the forefront of the medical community
• 1928-1944 saw a huge surplus of business in the way of manufacturing and selling vitamins and opening plants in America
• The American plants saw great success with manufacturing a large variety of items, even including barbiturates into the mix
• 1945-1964 saw an increase in sales and production of vitamins and new cancer medicines for chemotherapy and more effective sedatives
• 1945 also saw Roche enter into the cosmetics side of the market by establishing the Pantene Corporation
• In the 1960’s and 1970’s Roche began developing electronic medical instruments and setting up laboratories that allowed scientists and doctors to perform clinical analysis for hospitals and doctor’s offices
• A constant proponent of cancer research, Roche opens the Roche Institute of Molecular Biology in 1980 and they are able to isolate an interferon alpha, a great advance in medical research
• Through the 1990’s and 2000’s Roche moves forward in ground breaking scientific and medical research, with a restructure to focus on biotech in 2006
• Still a constant presence in the health care, medical, and scientific research committee, Roche continues to make ground breaking work in these fields, with the family members of its founder still controlling half of the company’s shares, reporting an impressive annual revenue of over $56.5 billion dollars

McKesson

John McKesson and Charles Olcott founded McKesson in New York in 1833 to make available and sell chemicals and therapeutic drugs wholesale. Still in business and extremely relevant in today’s market, McKesson has risen to become one of the largest healthcare companies in the United States and is at the forefront of healthcare technology and pharmaceutical distribution. A large portion of McKesson shares are still held by family members today.

• In 1855, McKesson became one of the first companies in the US to manufacture and sell drugs. Several of their tablets, pills, tinctures and fluid extracts won medals because they were considered to be pioneer in their field
• In the 1920’s, McKesson saw continued growth in sales and revenue, despite the financial crisis of the Great Depression
• In the 1960’s, McKesson merged with Foremost Dairies to become the largest distributor of chemicals, pharmaceutical drugs, and alcoholic beverages in the United States
• In the 1980’s and 1990’s, McKesson grew by acquiring General Medical (which at the time was the largest distributor of surgical and medical supplies in the US) and HBO & Company, along with introducing Acumax – a warehouse management solution with proprietary barcode technology that won them the ComputerWorld Smithsonian Award
• From the 2000’s to present day, McKesson acquired US Oncology and and Celesio, which boosted them to the status of a global health provider and ranking them #11 on Forbes list of Fortune 500 companies, and an annual revenue of $179 billion

Brilliant Oral Care

Did you know that we here at Brilliant Oral Care are a family owned and operated company, providing you with the best oral care for your health, and other great products to serve you and your family? Our owner, Fredrick Hart purchased Compac Industries on April 1, 1980. Compac Industries has several lines of brands that sell many helpful products: Brilliant Oral Care, Baby Buddy, Better Grillin, Compac Home, HartFelt, and BrushMyTeeth (for pets). Compac is a family owned business with Fredrick Hart still involved and invested in the best interests of the company. His son Dean Hart is President and CEO, and his grandson Freddie Hart serves the company as Brand Manager. It has always been the goal for all the brands and products of Compac Industries to be the solutions provider with products for everyday problems, to keep innovation all the way through. We want to be helpful problem solvers and figure out how we can make life better for people so our customers experience enjoyment. Whether you’re a baby,  a parent or senior, wherever you are in life, the brands, products, services and employees of Compac Industries want to make a difference in the lives of others. Brilliant Oral Care provides just that with innovative manual and sonic toothbrushes that have round brush heads and soft bristles, cleaning not just your teeth but your gums, tongue and cheeks, and also products that help babies develop good oral health from the very beginning. The help we offer to enhance and revolutionize your oral care starts at new babies and takes it all the way through senior age and includes special products for those with special medical conditions and special needs. Our customers aren’t just customers, they are part of our family. And, at the end of the day, knowing you matter is really what makes the difference.

© 2021 Compac Industries. All rights reserved.

This article is intended to provide an understanding of and knowledge about “health topics” as expressed through the perspective and research of the author. It is not intended to be a substitute for professional advice or counsel, including the diagnosis or treatment of any condition. Always seek the advice of your qualified healthcare provider with any questions you may have regarding a medical condition, illness or treatment of any listed or non listed situation above. By using this site, you signify your assent to our Terms and Conditions.

Sources:

https://www.businessinsider.com/the-worlds-21-biggest-family-owned-businesses-2015-7#21-sun-pharmaceutical-1

https://www.roche.com/about/history.htm

https://www.mckesson.com/About-McKesson/Our-History/

https://www.investopedia.com/articles/markets/030916/worlds-top-10-health-care-companies-unh-mdt.asp

https://www.lovemoney.com/gallerylist/64300/25-massive-companies-that-are-still-family-owned

Lori Herren

Lori Herren