Bard (company)

C. R. Bard, Inc.

Company type	Public (until 2017)
Industry	Medical technology
Founded	1 January 1907 (1907-01-01) in New York City, USA
Founder	Charles R. Bard
Defunct	December 29, 2017 (2017-12-29)
Fate	Acquired by Becton, Dickinson and Company
Successor	Bard (subsidiary of Becton, Dickinson and Company)
Headquarters	Murray Hill, New Jersey , United States
Area served	Worldwide
Products	Medical technologies in vascular medicine, urology, oncology, surgical fields; Foley catheter (launched 1934)
Owner	Becton, Dickinson and Company (since 2017)
Number of employees	14,000 (2015)
Parent	Becton, Dickinson and Company

C. R. Bard, Inc., based in Murray Hill, New Jersey, USA, specialized in the development, manufacturing, and marketing of medical technologies across vascular medicine, urology, oncology, and surgical fields. Serving hospitals, healthcare practitioners, long-term care facilities, and alternative care sites worldwide, Bard was recognized as an S&P 500 company employing approximately 14,000 people in 2015. The company is historically significant for launching the Foley catheter in 1934.

In April 2017, Bard revealed plans to be acquired by Becton, Dickinson and Company (BD), with the transaction finalized later that year. Following the acquisition, Bard became a fully owned subsidiary of BD and was rebranded simply as Bard.

History

Founded in New York City in 1907 by Charles R. Bard, C. R. Bard, Inc. began by importing Gomenol to alleviate urinary discomfort. The firm was incorporated in 1923 and subsequently sold in 1926 to John F. Willits and Edson L. Outwin for $18,000. Under their management, Bard expanded its product line to include catheters, introducing the Foley catheter in 1934 and the America Woven Catheter by 1940.

By 1948, sales had exceeded $1 million annually, prompting relocation of the headquarters to Summit, New Jersey. In 1954, Bard scientist Dr. Michael DeBakey pioneered the first arterial prosthesis. The company innovated further by introducing sterile packaging for Foley catheters in 1957 and continued catheter advancements with the bipolar temporary pacing catheter in 1958 and the first latex balloon catheter in 1960. Diversification into cardiology, radiology, and anesthesiology products occurred in 1961.

Bard went public in 1963 and secured a listing on the New York Stock Exchange by 1968. Its product range grew steadily over time, with net sales surpassing $1 billion by 1994. Around 2012, Bard enhanced its vascular product portfolio through the acquisition of Lutonix.

On April 23, 2017, Becton Dickinson announced a $24 billion deal to acquire C. R. Bard, completed on December 29 of the same year, establishing a dominant global medical supplies entity with broadened market presence and product lines.

Settlement for illegal kickbacks

In 2006, C. R. Bard was accused of providing unlawful kickbacks to physicians and consumers. The company agreed in 2013 to pay $48.26 million to settle allegations involving false Medicare claims submissions.

Vaginal mesh litigation

Bard’s transvaginal mesh implants—used to manage pelvic organ prolapse and urinary incontinence—became subject to lawsuits starting in 2010 over claims of defective design and unsafe materials; some patients underwent multiple surgeries for device removal. In 2012, the FDA required Bard and other manufacturers to conduct studies on organ damage rates linked to these devices. While Bard maintained confidence in its product’s safety, it began negotiating settlements from 2013 onward for nearly 30,000 claims and paid over $200 million by 2015 to resolve roughly one-fifth of pending lawsuits.

Inferior vena cava (IVC) filter controversies

Bard introduced its Recovery brand IVC filter in 2002 aimed at preventing deadly blood clots but faced reports associating it with 27 deaths and numerous complications. An internal Bard study revealed elevated risks compared to competitors’ filters. Instead of issuing a recall, Bard developed the G2 filter series as a successor. However, a 2015 NBC investigation disclosed that G2 filters exhibited similar critical defects and that Bard continued marketing them for five years despite knowledge of these problems. At least twelve deaths and hundreds of complications were linked to G2 filters.

In 2018, an Arizona court ordered Bard to pay $3.6 million for injuries caused by a G2 filter implanted in 2007. Although Bard appealed this decision, a court ruling in 2020 upheld the original verdict against the company.