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Bard to Divest Endoscopic Assets

MURRAY HILL, N.J.--(BUSINESS WIRE)--Aug. 18, 2004--C. R. Bard, Inc. (NYSE-BCR) today announced that it has entered into an agreement to sell certain assets of its Endoscopic Technologies Division to Conmed Corporation (NASDAQ-CNMD), for $80 million.

The Endoscopic Technologies Division, located in Billerica, Massachusetts, manufactures and markets devices and accessories used primarily by gastroenterologists for endoscopic procedures. Annual net revenue associated with the divested assets was approximately $54 million in 2003 and $31 million for the six months ended June 30, 2004. The company's enteral feeding and endoscopic suturing product lines are not included in the agreement and will be transferred to other Bard business units. A closing date is anticipated within 60 days.

"The sale of our endoscopic assets is consistent with our previously stated strategic investment objectives," commented Timothy M. Ring, chairman and chief executive officer. "We believe this transaction enhances our long term growth profile and is in the best interest of our shareholders. We are grateful to the many dedicated employees who helped build this franchise and wish them well as they transition to the Conmed organization."

The Company expects to record a gain from this transaction in the second half of 2004. Excluding this gain, the Company's earnings guidance remains unchanged. Additionally, adjusting prior year results to exclude the products being divested, the Company's third and fourth quarter revenue growth guidance also remains unchanged.

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.

This press release may contain forward-looking statements, the accuracy of which is necessarily subject to risks and uncertainties. Please refer to our June 30, 2004 10-Q for a statement with regard to forward-looking statements, including disclosure of the factors that could cause actual results to differ materially from those expressed or implied.


    CONTACT: C. R. Bard, Inc.
             Investor Relations:
             Eric J. Shick
             Vice President, Investor Relations
             908-277-8413
             or
             Media Relations:
             Holly P. Glass
             Vice President, Government and Public Affairs
             703-754-2848

    SOURCE: C. R. Bard, Inc.

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Primary Media Relations Contact

Scott Lowry
Vice President and Treasurer
C. R. Bard, Inc.
730 Central Avenue
Murray Hill, NJ 07974

Tel: 908-277-8365