Bard C R Inc
C. R. Bard, Inc. Is engaged in the design, manufacture, packaging, distribution
and sale of medical, surgical, diagnostic and patient care devices. Charles Russell
Bard started the company in 1907. One of its first medical products was the silk
urethral catheter imported from France. In 1923, the company was incorporated
as C. R. Bard, Inc. and distributed an assortment of urology and surgical products.
Bard became a publicly traded company in 1963 and five years later was traded
on the New York Stock Exchange. Today, the company markets its products worldwide
to hospitals, individual health care professionals, extended care facilities and
alternate site facilities. In general, the company's products are intended to
be used once and then discarded. Bard holds strong market positions in vascular,
urology, oncology and surgical specialty products.
Bard has an acquisition strategy that targets small research or developing
companies as well as larger, established companies with market leadership positions.
In addition to acquiring companies, Bard has expanded its business in the medical
field by acquiring product lines, entering into licensing agreements and joint
ventures and making equity investments in companies with emerging technologies.
International
Bard markets its products through 23 subsidiaries and a joint venture in over
90 countries outside the United States. The products sold in the company's international
markets include many of the products described above under Product Group Information.
However, the principal markets, products and methods of distribution in the
company's international businesses vary with market size and stage of development.
The company's principal international markets are in Europe and Japan. The company
believes that its geographically-based sales organization gives the company
greater flexibility in international markets. Approximately 58% of international
sales are of products manufactured by Bard in the United States, Puerto Rico
or Mexico.
Competition
The company competes in the therapeutic and diagnostic medical markets both
in the United States and around the world. These markets are characterized by
rapid change resulting from technological advances and scientific discoveries.
The company depends more on its consistently reliable product quality, dependable
service and its ability to develop products to meet market needs than on patent
protection, although many of its products are patented or are the subject of
patent applications. The company faces a mix of competitors ranging from large
manufacturers with multiple business lines to smaller manufacturers that offer
a limited selection of products. In addition, the FDA has recently increased
its oversight of companies involved with the reprocessing of single-use medical
devices and has provided improved guidance to reprocessors, thereby facilitating
the reprocessing business.
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