MURRAY HILL, N.J.--(BUSINESS WIRE)--July 1, 2004--C. R. Bard, Inc.
(NYSE: BCR) today announced that it has acquired substantially all of
the assets of Onux Medical, Inc., including the Salute(R) surgical
fixation system. Onux is located in Hampton, New Hampshire. Bard's
Davol subsidiary, located in Cranston, Rhode Island, will market the
product. Terms of the transaction were not disclosed.
The Salute system is used to fixate prosthetic mesh in place
during laparoscopic hernia repair procedures. Fixation is achieved
using innovative, proprietary technology to form discrete stainless
steel rings. There are approximately 350,000 laparoscopic hernia
repair procedures performed annually around the world. The current
global market for hernia fixation devices is estimated at $100
million, growing at a double-digit rate. Bard is the leader in the
prosthetic mesh market for hernia repairs.
Timothy M. Ring, chairman and chief executive officer, commented,
"The Salute fixation system from Onux is a natural clinical complement
to our successful line of hernia mesh products. It will further extend
our technology leadership position as the full-line provider of hernia
repair solutions. This transaction is indicative of our strategy to
acquire early stage products and technologies in higher growth
C. R. Bard, Inc., (www.crbard.com) headquartered in Murray Hill,
N.J., is a leading multinational developer, manufacturer, and marketer
of innovative, life-enhancing medical technologies in the fields of
vascular, urology, oncology, and surgical specialty products.
CONTACT: C. R. Bard, Inc.
Eric J. Shick, 908-277-8413
Holly P. Glass, 703-754-2848
SOURCE: C. R. Bard, Inc.