Acquisition

9 Months Ended

Sep. 30, 2012

Acquisition

2. Acquisition

On October 19, 2012, the company acquired Neomend, Inc. (“Neomend”), a privately-held company engaged in the development and commercialization of innovative surgical sealants. The purchase consideration consists of an up front cash payment of $140 million and contingent consideration of up to $25 million, based on the achievement of sales-based milestone payments through 2016. Neomend’s products expand Bard’s existing surgical specialties product portfolio to include the only product approved by the U.S. Food and Drug Administration for the treatment of intraoperative air leaks in connection with thoracic surgery. Neomend’s proprietary technology and pipeline provides the opportunity for future clinical indications across a variety of surgical specialty applications. The company has not yet completed the initial purchase accounting due to the timing of this acquisition.