MURRAY HILL, N.J.--(BUSINESS WIRE)--June 16, 2003--C. R. Bard,
Inc. (NYSE-BCR) today announced that it has acquired substantially all
of the assets of Source Tech Medical, L.L.C., (SourceTech). Terms of
the transaction were not disclosed.
SourceTech, headquartered in Carol Stream, Illinois, is a
developer, manufacturer and marketer of iodine radioactive isotope
seeds used in brachytherapy procedures for the treatment of prostate
cancer. The company has been Bard's primary supplier of iodine seeds
for the U.S. market.
William H. Longfield, chairman and chief executive officer,
commented, "The acquisition of SourceTech furthers our objective of
becoming the leader in the delivery of brachytherapy seeds and
services. Vertically integrating the manufacture of iodine seeds is a
significant step, giving us greater flexibility and control of our
business. This has been an objective of our brachytherapy strategy
since entering this market and I am pleased to have reached this
The Company said that this transaction does not change its
guidance for 2003.
C. R. Bard, Inc., (www.crbard.com) headquartered in Murray Hill,
New Jersey, is a leading multinational developer, manufacturer and
marketer of health care products in the fields of vascular, urology,
oncology and surgical specialty products.
This press release contains forward-looking statements, the
accuracy of which is necessarily subject to risks and uncertainties.
Please refer to our March 31, 2003, Form 10-Q for a statement with
regard to forward-looking statements, including disclosure of
additional factors that could cause actual results to differ
materially from those expressed or implied.
CONTACT: C. R. Bard, Inc.
Eric J. Shick, 908/277-8413
Holly P. Glass, 703/754-2848
SOURCE: C. R. Bard, Inc.