Bausch Health Exploring Potential Divestiture Of Eye Care Units: Bloomberg

Bausch Health Companies Inc BHC said in August that it would spin off its eye-care unit and operate it as an independent, publicly traded company. As a standalone company, Bausch + Lomb could be valued at $20 billion to $30 billion, according to Bloomberg Intelligence.
The business has attracted interest from private equity bidders as well as strategic buyers.
The unit includes eye-health products like contact lenses and surgical devices. Its Bausch + Lomb segment raked $1.24 billion in the fourth quarter.
Bloomberg reported that the company hasn’t made a final decision on a sale and could still opt to spin off or keep the business. Bausch Health could also weigh a sale of part of the business instead of a complete divestiture.
Bausch Health has been divesting non-core assets and paying down debt to improve its balance sheet and streamline its offerings.
Last month, it announced the sale of Egyptian drug unit Amoun Pharmaceutical to Abu Dhabi sovereign wealth fund ADQ for $740 million.
Valeant acquired Bausch & Lomb Holdings Inc in 2013 in an $8.7 billion deal.
Price Action: BHC shares are down 0.06% at $32.52 during market trading hours on the last check Thursday.