Azenta (AZTA) Jefferies Global Healthcare Conference summary

Leadership transition and strategic positioning

• CEO transition planned as company is well-positioned for growth, with strong business units and leadership in place.

• Recent cost structure and infrastructure changes align with growth and profitability goals.

• Transformation from semiconductor equipment to a unique life sciences tools portfolio over the past decade.

Integration, margin initiatives, and operational focus

• Over 15 acquisitions in 10 years; current focus is on integration and leveraging a 45-site footprint for scalable growth.

• Margin improvement initiatives include site rationalization and portfolio optimization.

• Discontinuing non-core products in B Medical to improve profitability and free up manufacturing capacity.

• B Medical expected to grow low single digits from a $100M base, targeting 20% EBITDA margin.

China growth and risk management

• Multiomics business in China has delivered four consecutive quarters of double-digit growth, driven by investments and talent.

• New facility construction underway in Suzhou to meet demand; first building at capacity.

• Company prepared to shift gene synthesis operations from China to the U.S. if needed, with existing U.S. capacity.

• Monitoring potential impacts from Chinese stimulus and BIOSECURE regulations.