Bausch Health Files for Solta IPO

Bausch Health Companies announced today that its wholly owned subsidiary, Solta Medical Corporation, has publicly filed for a proposed initial public offering (IPO). Solta, a provider of dermatology-focused lasers, has applied to list its common shares on the Nasdaq Global Select Market under the symbol "SLTA."

The announcement comes a month after Bausch Health publicly filed for an IPO for Bausch + Lomb's common shares. Bausch + Lomb’s proposed IPO comes after Bausch Health Companies announced its intention to separate its eye health business in August 2020. The company said it plans to raise $100 million in its IPO, although the final figure may be significantly higher. The number of common shares to be offered and the price range for the IPO have not yet been determined. Bausch Health will retain all proceeds from the sale, and will remain a majority owner of the new public company. The company plans to list its shares on the New York Stock Exchange and the Toronto Stock Exchange under the symbol "BLCO."

Ranna: The Bausch + Lomb eye-care business is returning to being a separate company, as it was before Valeant Pharmaceuticals acquired Bausch & Lomb from private-equity firm Warburg Pincus for $8.7 billion in 2013.