"C. R. Bard, Inc. (NYSE: BCR), now branded simply as Bard, is a manufacturer of medical equipment headquartered in Murray Hill, New Jersey, USA, and active worldwide. An S&P 500 company with approximately 11,000 employees in 2009, Bard specializes in the manufacture of vascular, urology, oncology and surgical specialty products. Bard is perhaps best known for having introduced the Foley catheter in 1934. C. R. Bard, Inc. was founded in New York City by Charles R. Bard in 1907. Bard's first business involved importing Gomenol, which was used to treat urinary discomfort. The company formally incorporated in 1923, and three years later, in 1926, Charles R. Bard sold the company to John F. Willits and Edson L. Outwin for $18,000. Under Willits and Outwins, the company expanded into the catheter business, introducing the Foley catheter in 1934 and the America Woven Catheter in 1940. In 1948, Bard's annual sales topped $1 million for the first time, and the company moved its headquarters from New York City to Summit, New Jersey. In 1954, a Bard scientist, Dr. DeBakey, developed the first arterial prosthesis. Three years later the company began selling Foley catheters that came in sterile packaging for the first time ever. Bard continued to innovate in the world of catheters, rolling out the Bipolar Temporary Pacing catheter in 1958 and
the first latex balloon catheter in 1960. In 1961, Bard expanded beyond catheters, and began manufacturing products related to cardiology, radiology, and anesthesiology.Bard went public in 1963 and was listed on the New York Stock Exchange in 1968. The company has introduced a variety of new health care products since that time. Its net sales first exceeded $1 billion in 1994. Around 2012, Bard acquired the company Lutonix."