Following several years of preparation and build-up of anticipation, the Bausch Health Companies Inc. split went into effect on 10 May, with the closing of a $630m initial public offering for Bausch + Lomb Inc., effectively separating the eye care unit from the rest of the business. Bausch executives have pledged that the spinout of B+L will unlock the eye care business’s value and provide funding to pay down Bausch Health’s considerable debt, dating back to its hectic deal-making days as Valeant.
Bausch Investors Initially Pessimistic Following B+L Spinout
Bausch Health Drops 27% Following Q1 Earnings Call
With its IPO of Bausch + Lomb bringing in $630m in proceeds, Bausch Health is moving forward with its plan to use the eye care unit’s separation to pay down its remaining debt.
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