"How IRIS International treated its toxic company culture to achieve dramatic growth."
Learn How IRIS International became a company that is setting the bar in innovation, collaboration, and growth.
When César García came to IRIS International 10 years ago, the company was on the ropes. The manufacturer of medical diagnostic products had a stale product line, flat revenues, and mounting debt.
Annual revenue [lept] from $28 million in 2002 to $118 million last year.
García welcomed the challenge of a turnaround and in 2003, he became president and CEO of IRIS (International Remote Imaging Systems). He brought in a new management team. Secured debt refinancing. Pushed hard for new product development.
But García quickly concluded that the real problem was IRIS’s toxic company culture. It was a culture that kept its employees locked in silos and prevented the organization from seizing external opportunities.
The transformation at IRIS under García’s leadership has been extraordinary. The company has launched 15 new products in the last 10 years. Annual revenue has leaped from $28 million in 2002 to $118 million last year, with $129 million projected for 2012.