Bausch + Lomb Launches Opal™ Digital Marketplace in the United States

Rhea-AI Summary

Bausch + Lomb (NYSE/TSX: BLCO) has launched Opal, a digital e-commerce marketplace in the United States. This platform is designed to streamline the ordering process for Bausch + Lomb contact lenses and select over-the-counter products, aiming to maximize efficiencies for eye care practices and enhance patient experience.

Key features of Opal include:

• Complimentary offering for eye care professionals
• Order tracking and history
• Appointment and prescription reminders
• Free shipping to patients' homes or practices
• Integration with Bausch + Lomb Horizon Rewards loyalty program

The platform simplifies administrative tasks, inventory management, and cost comparisons, potentially freeing up resources and staff time for eye care practices while supporting business growth.

Positive

• Launch of Opal digital marketplace streamlines ordering process for Bausch + Lomb products
• Platform offers potential for increased efficiency and reduced administrative burden for eye care practices
• Complimentary offering for eye care professionals, potentially increasing adoption
• Integration with Bausch + Lomb Horizon Rewards loyalty program may enhance customer retention

Negative

• None.

Insights

Medical Technology Analyst

The launch of Opal, Bausch + Lomb's digital marketplace, represents a strategic move to streamline operations and enhance customer engagement in the eye care sector. This platform addresses key pain points for both practitioners and patients:

• Efficiency gains for eye care practices through simplified order processing and inventory management
• Improved patient experience with features like order tracking and automated reminders
• Potential for increased patient loyalty and repeat business

While innovative, the immediate financial impact may be The platform's success will depend on adoption rates and its ability to drive sales growth. Long-term, if widely adopted, it could strengthen Bausch + Lomb's market position and potentially lead to increased revenue from both contact lenses and over-the-counter products. However, the $6.79 billion market cap company may not see significant short-term stock movement from this launch alone.

E-commerce Specialist

Opal's launch signifies Bausch + Lomb's entry into the direct-to-consumer digital marketplace, a growing trend in healthcare. Key features that stand out:

• Integration of a loyalty program (Horizon Rewards) to incentivize repeat purchases
• Free shipping option, which is increasingly expected by consumers
• Customizable product catalog for eye care professionals

This move aligns with broader e-commerce trends in healthcare, potentially positioning Bausch + Lomb to capture a larger share of the online eye care market. However, success will hinge on user experience, competitive pricing and the ability to overcome potential resistance from traditional distribution channels. The platform's impact on revenue and profitability will need to be closely monitored in the coming quarters to assess its true value to investors.

VAUGHAN, Ontario--(BUSINESS WIRE)-- Bausch + Lomb Corporation (NYSE/TSX: BLCO), a leading global eye health company dedicated to helping people see better to live better, today announced the U.S. launch of Opal, a digital e-commerce marketplace. Designed to help maximize efficiencies for eye care practices while enhancing the patient experience, Opal provides a streamlined ordering process for Bausch + Lomb contact lenses, with select Bausch + Lomb over-the-counter products to be added in the coming months.

“Opal is an all-in-one digital platform that offers faster, more convenient ordering of Bausch + Lomb products, helping to save staff time, boost patient loyalty and reduce the administrative burden for participating eye care practices,” said Yang Yang, president, Global Vision Care, Bausch + Lomb. “This platform is the latest example of our continued focus on meeting the evolving needs of eye care professionals and their patients.”

The Opal platform, a complimentary offering to eye care professionals that is accessible to their patients, features order tracking and history, appointment reminders and automated prescription reminders. All orders made through Opal are delivered with free shipping directly to patients’ homes or eye care practices, and each patient purchase earns points toward the Bausch + Lomb Horizon Rewards loyalty program.

“Opal simplifies administrative tasks such as order processing, inventory management and cost comparisons, to help free up resources and valuable staff time,” said Jason Tu, OD, Vision Boutique, San Diego, past president, California Optometric Association, and an Opal beta tester. “With such a user-friendly interface, Opal allows my patients to order their Bausch + Lomb products directly from my practice, whether they’re in the office or elsewhere. This not only enhances convenience for my patients but also supports the growth of my business. As a private practice owner, creating efficiencies in my back-office processes is crucial, and Opal significantly contributes to that.”

Products are available through a customizable catalog on Opal, including Bausch + Lomb contact lens brands such as Bausch + Lomb INFUSE^®, Bausch + Lomb ULTRA^® and Biotrue^® ONEday. Over-the-counter products will include LUMIFY^® redness reliever eye drops and Blink^® eye drops.

About Bausch + Lomb

Bausch + Lomb is dedicated to protecting and enhancing the gift of sight for millions of people around the world – from birth through every phase of life. Its comprehensive portfolio of approximately 400 products includes contact lenses, lens care products, eye care products, ophthalmic pharmaceuticals, over-the-counter products and ophthalmic surgical devices and instruments. Founded in 1853, Bausch + Lomb has a significant global research and development, manufacturing and commercial footprint with approximately 13,000 employees and a presence in nearly 100 countries. Bausch + Lomb is headquartered in Vaughan, Ontario, with corporate offices in Bridgewater, New Jersey. For more information, visit www.bausch.com and connect with us on X, LinkedIn, Facebook and Instagram.

Forward-looking Statements

This news release may contain forward-looking statements, which may generally be identified by the use of the words “anticipates,” “hopes,” “expects,” “intends,” “plans,” “should,” “could,” “would,” “will,” “may,” “believes,” “estimates,” “potential,” “target,” or “continue” and variations or similar expressions. 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. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in Bausch + Lomb’s filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch + Lomb undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

© 2024 Bausch + Lomb.
BLNP.0203.USA.24

View source version on businesswire.com: https://www.businesswire.com/news/home/20241001944501/en/

Media Contact:

Kristy Marks

kristy.marks@bausch.com

(908) 927-0683



Investor Contact:

George Gadkowski

george.gadkowski@bausch.com

(877) 354-3705 (toll free)

(908) 927-0735

Source: Bausch + Lomb Corporation

FAQ

What is Bausch + Lomb's Opal digital marketplace?

Opal is a digital e-commerce platform launched by Bausch + Lomb (BLCO) in the United States. It streamlines the ordering process for Bausch + Lomb contact lenses and select over-the-counter products, aiming to maximize efficiencies for eye care practices and enhance patient experience.

What features does the Opal platform offer to eye care professionals and patients?

Opal offers order tracking and history, appointment reminders, automated prescription reminders, free shipping, and integration with the Bausch + Lomb Horizon Rewards loyalty program. It also simplifies administrative tasks such as order processing, inventory management, and cost comparisons for eye care practices.

Which Bausch + Lomb products are available through the Opal marketplace?

The Opal marketplace offers Bausch + Lomb contact lens brands such as Bausch + Lomb INFUSE, Bausch + Lomb ULTRA, and Biotrue ONEday. Over-the-counter products like LUMIFY redness reliever eye drops and Blink eye drops will be added in the coming months.

How does the Opal platform benefit eye care practices using Bausch + Lomb (BLCO) products?

Opal benefits eye care practices by streamlining the ordering process, reducing administrative burden, potentially freeing up staff time, and supporting business growth. It also offers a user-friendly interface for patients to order directly from their eye care provider, enhancing convenience and potentially boosting patient loyalty.