Succeeding amid savage competition: medical-device making is one of the most competitive industries in manufacturing. For Timothy Ring, CEO of C.R. Bard Inc., a $1.43 billion, Murray Hill, N.J.-based manufacturer, beating competitors requires three key weapons.(Interview)

Industry Week, December, 2004 by Vinas, Tonya

C.R. Bard makes devices for the urology, surgery, oncology and vascular markets. Since 1999, Bard has had quarterly revenue growth between 7% and 10% until the past two fiscal quarters, when it shot up to 15%. This report is based on an 1W interview and presentation CEO Timothy Ring gave at an executive summit at the Cleveland Clinic Foundation.

IW: What makes medical-device manufacturing so competitive?

Ring: The dynamics of [the medical device] market require rapid innovation and evolution of technology while demanding ever-increasing product complexity and its attendant risks. This is--and should be--a highly regulated environment. So it is not only about technology. It's about quality and manufacturing processes that provide safe and efficacious...

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