Bausch Health set for two IPOs; Q3 profit increases
BNN Bloomberg
Bausch Health Companies Inc. says the initial public offering of its aesthetic medical device business could come as early as next month followed soon after by the IPO of its eyecare business.
LAVAL, Que. - Bausch Health Companies Inc. says the initial public offering of its aesthetic medical device business could come as early as next month followed soon after by the IPO of its eyecare business.
The Quebec-based company - which had previously announced the public offerings - says the Solta Medical IPO will come in December or January while Bausch + Lomb will follow about 30 days later, subject to market conditions and other necessary approvals.
Bausch disclosed the timing as it reported a third-quarter profit of US$188 million or 52 cents per share, up from US$71 million or 20 cents per share a year earlier.
Excluding one-time items such as proceeds from the sale of Amoun Pharmaceutical Co., its adjusted profit fell 11 per cent to US$417 million or US$1.16 per share, compared with US$469 million or US$1.32 per share in the third quarter of 2020.
Revenue for the three months ended Sept. 30 fell about one per cent to US$2.22 billion, from US$2.14 billion.
Bausch was expected on average to report an adjusted profit of US$1.04 per share on US$2.16 billion in revenue, according to financial data firm Refinitiv.
