Bausch Health Provides Update on Solta Medical
Bausch Health Companies (NYSE/TSX: BHC) announced it is suspending the IPO plans for its Solta Medical business due to challenging market conditions. Solta, a leader in medical aesthetics, offers advanced skin rejuvenation and body contouring solutions. The company aims to focus on driving Solta's revenue and operational milestones while retaining it within the Bausch Health portfolio to aid in deleveraging its balance sheet. CEO Thomas J. Appio expressed confidence in Solta's growth and market potential.
- Solta Medical is a leading provider in the medical aesthetics market.
- Solta continues to contribute to Bausch Health's balance sheet deleveraging.
- Future growth potential and geographic expansion opportunities for Solta.
- Suspension of IPO indicates adverse market conditions.
- No assurance of future growth or IPO potential for Solta.
LAVAL, QB, June 16, 2022 /PRNewswire/ -- Bausch Health Companies Inc. (NYSE/TSX: BHC) ("Bausch Health" or the "Company") today announced an update on its previously stated plan to pursue an initial public offering (IPO) of its Solta Medical business ("Solta"). Solta is a leading global provider in medical aesthetics with innovative and effective skin rejuvenation and body contouring solutions, including the Thermage® RF systems, Fraxel® laser, Clear + Brilliant® laser and VASER® ultrasonic systems.
Solta attracted significant investor interest during the IPO process. However, in light of challenging market conditions and other factors, the Company is suspending its plans for the IPO of Solta. Bausch Health believes that the interests of the Company's stakeholders are best served in the near-term by focusing on driving Solta's revenue, profits and cash flow while also achieving key operational and regulatory milestones. For now, Solta will remain as part of Bausch Health and continue to contribute to the deleveraging of the Company's balance sheet. The Company will revisit alternative paths for Solta in the future.
"Solta is a valuable business with significant potential for market share gains and geographic expansion in the fast-growing medical aesthetics business," said Thomas J. Appio, chief executive officer, Bausch Health. "I look forward to working with the team to drive Solta's continued growth and innovation."
About Bausch Health
Bausch Health Companies Inc. (NYSE/TSX: BHC) is a global diversified pharmaceutical company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals and eye health, through our
Forward-looking Statements
This news release may contain forward-looking statements about the future performance and disposition of Solta and Bausch Health, which may generally be identified by the use of the words "anticipates," "hopes," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "subject to" and variations or similar expressions, including statements about the timing and details of the future plans for Solta and its future performance. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In particular, Bausch Health can offer no assurance that Solta will generate future growth or innovation or that a Solta IPO may occur at any point. Actual results are subject to other risks and uncertainties that relate more broadly to Bausch Health's overall business, including those more fully described in Bausch Health's most recent annual report on Form 10-K and detailed from time to time in Bausch Health's other filings with the U.S. Securities and Exchange Commission and the Canadian securities administrators, which factors are incorporated herein by reference.
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Christina Cheng | Lainie Keller |
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SOURCE Bausch Health Companies Inc.
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