2013 pay: $9.4 million
2012 pay: $8.8 million
C.R. Bard ($BCR) has been plagued with numerous lawsuits alleging its transvaginal mesh implant devices harmed patients. Last year, a Virginia U.S. district judge ruled that C.R. Bard must pay $2 million in damages in response to a lawsuit alleging a patient was injured by an unsafe vaginal mesh implant made by the company, the judge upheld.
But the company's legal woes haven't slowed down CEO Timothy M. Ring's ambitions for growth or impacted its bottom line much.
Last year, Ring led two major M&A deals, one to grab Rochester Medical ($ROCM) for about $262 million in cash and another to acquire Minnesota-based Medafor in a deal worth at least $200 million. The company hopes the Rochester deal will help boost its place in the global urology home care devices market, and the Medafor could bring it deeper into the blood clotting business.
In the 2013 third quarter, Bard said sales grew to $758 million, up from $722.9 million over the same period last year. Also in the third quarter, sales for Bard's surgical specialties division soared, and the company's oncology, vascular and urology sectors also generated steady gains.
Despite ongoing lawsuits, Ring seems committed to new investments and acquisitions to propel revenue growth.
In 2013, Ring brought home a total of $9.4 million in pay--a 7% raise from 2012--including $1 million in base salary, $3.4 million in stock awards, $2 million in options, $1.4 million in nonequity incentives and $36,650 in other pay. -- Emily Mullin (email | Twitter)
- here's Bard's proxy statement
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