• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
  • Technologies
    • Artificial Intelligence (AI)
    • Cardiovascular
    • Orthopedics
    • Neurological
    • Diabetes
    • Surgical Robotics
  • Business & Finance
    • Wall Street Beat
    • Earnings Reports
    • Funding Roundup
    • Mergers & Acquisitions
    • Initial Public Offering (IPO)
    • Legal News
    • Personnel Moves
    • Medtech 100 Stock Index
  • Regulatory & Compliance
    • Food & Drug Administration (FDA)
    • Recalls
    • 510(k)
    • Pre-Market Approval (PMA)
    • MDSAP
    • Clinical Trials
  • Special Content
    • Special Reports
    • In-Depth Coverage
    • DeviceTalks
  • Podcasts
    • MassDevice Fast Five
    • DeviceTalks Weekly
    • OEM Talks
      • AbbottTalks
      • Boston ScientificTalks
      • DeviceTalks AI
      • IntuitiveTalks
      • MedtechWOMEN Talks
      • MedtronicTalks
      • Neuro Innovation Talks
      • Ortho Innovation Talks
      • Structural Heart Talks
      • StrykerTalks
  • Resources
    • About MassDevice
    • DeviceTalks
    • Newsletter Signup
    • Leadership in Medtech
    • Manufacturers & Suppliers Search
    • MedTech100 Index
    • Videos
    • Webinars
    • Whitepapers
    • Voices
Home » C.R. Bard finds insurer willing to cover future hernia claims

C.R. Bard finds insurer willing to cover future hernia claims

January 7, 2010 By MassDevice staff

With the first of what may be a long string of product-liability trials now only months away, C.R. Bard Inc. (NYSE:BCR) has convinced an insurance carrier to again cover potential claims.

All it took was letting a $25 million IOU slide.

The Murray Hill, N.J.-based device conglomerate recently settled with an unidentified insurance company, securing a commitment from the insurer to cover possible claims resulting from ongoing litigation over one of Bard’s line of hernia-repair products. In exchange for securing coverage up to a non-disclosed limit, Bard agreed to quit seeking payment of money it claimed the insurance company owed and will instead take a $25 million, pre-tax write-off from financial results for the now-concluded fourth quarter of 2009.

The Dec. 31, 2009, settlement and the insurance receivable write-down were disclosed in regulatory documents filed Jan. 6 with the U.S. Securities and Exchange Commission.

Bard, through its Warwick, R.I.-based Davol Inc. subsidiary, began a recall of its Composix Kugel hernia patches in December, 2005, after receiving reports the device broke apart inside several patients. Specifically, a recoil ring used to secure the mesh patch to tissue perforations was said to have separated, and in some cases, began to move throughout the abdomen, damaging internal organs. Many other patients reported severe pain or other complications following repair surgery.

Through late last year, more than 2,700 plaintiffs had filed suit in either federal or state courts pursuing product-liability claims for personal injuries, with most of those cases since transferred to the U.S. District Court for Rhode Island for pre-trial proceedings. The first of two so-called bellwether cases are slated to begin in March and April, respectively, in Providence.

Throughout the process, Bard has refuted most of the claims, saying it acted responsibly and began the recall voluntarily as soon as troubles with the Composix patch surfaced. But the company also has butted heads with its insurance carriers, some of which are balking at paying claims against Bard’s product-liability policies. Company officials have said they are continuing to work with the insurers to enforce terms of the policies.

Filed Under: Business/Financial News, Legal News, News Well Tagged With: C.R. Bard, Davol Inc.

More recent news

  • Aurora Spine begins first procedures with Aero lumbar fusion system
  • Caranx Medical surgical robot TaviPilot AI software wins FDA clearance
  • InspireMD launches carotid stent in U.S. after FDA approval
  • Neuros Medical raises $56M Series D to support nerve stim tech
  • CorWave reports first-in-human LVAD implant

Primary Sidebar

“md
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest med device regulatory, business and technology news.

DeviceTalks Weekly

See More >

MEDTECH 100 Stock INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion
Drug Discovery & Development
Pharmaceutical Processing World
MedTech 100 Index
R&D World
Medical Design Sourcing

DeviceTalks Webinars, Podcasts, & Discussions

Attend our Monthly Webinars
Listen to our Weekly Podcasts
Join our DeviceTalks Tuesdays Discussion

MASSDEVICE

Subscribe to MassDevice E-Newsletter
Advertise with us
About
Contact us

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy