An overview of C. R. Bard’s Urology segment
C. R. Bard’s (BCR) Urology segment contributes around 25% of the company’s total revenues. The segment reported an increase of ~1% in net sales in 2015. The segment has a five-year compound growth rate of ~3.3%. C. R. Bard is a leader in urinary drainage and infection control. The company helps hospitals prevent CAUTIs (catheter associated urinary tract infections) with various products and programs such as Foley catheters and the Zero-In program, which helps improve processes and reduce procedural variations. Furthermore, developed European markets present long-term market opportunities.
Key growth drivers
In 2015, whereas US net sales in the Urology segment increased by approximately 4%, there was a ~5% decline in international sales due to the impact of foreign currency headwinds. However, on a constant currency basis, international revenues increased by ~3%. Net sales of basic drainage products grew by ~2% in 2015 and sales of urological specialty products and continence products sales increased by ~4%. Sales of C. R. Bard’s StatLock Universal Plus Stabilization Device declined by ~2% on a reported basis.
C. R. Bard’s Urological segment’s future growth is expected to be driven primarily by expansion across the homecare market, hospital basic drainage products, and products that enable a reduction in CAUTIs. The Rochester Medical acquisition led to the expansion of the company’s urological product portfolio. The graph above shows long-term opportunities in a number of urological specialty areas.