The bandage is equipment that costs $100. The bandage doesn't heal the player, but stops him from bleeding out. When your health is red, it means you are currently bleeding out. Players can use the bandage both on themselves and on other players, either to stop the other player from bleeding, or to revive them to 10 health points. Bandages can be bought both at the clothing store or at your team's base, if you are a member of a team.