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  • Bausch Health suspends...

Bausch Health suspends IPO plan for Solta Medical over challenging market conditions

Ruchika SharmaWritten by Ruchika Sharma Published On 2022-06-19T13:00:13+05:30  |  Updated On 19 Jun 2022 1:00 PM IST
Bausch Health suspends IPO plan for Solta Medical over challenging market conditions
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Bausch, previously known as Valeant Pharmaceuticals, said it would revisit alternative paths for medical aesthetics company Solta in future.

New Delhi: Bausch Health Companies Inc said on Thursday it was suspending plans for the initial public offering of its unit Solta Medical due to challenging market conditions.

It has been a gloomy year for U.S. capital markets, with IPO-bound Reddit Inc and Mobileye, the self-driving car unit of Intel Corp, facing challenges.

The Ukraine conflict and fears over the Federal Reserve's policy tightening have in recent months forced several companies to postpone or shelve their plans to go public in the United States.

Bausch, previously known as Valeant Pharmaceuticals, said it would revisit alternative paths for medical aesthetics company Solta in future.

In August, Bausch announced plans to pursue an IPO of Solta in a bid to shed non-core assets and cut down debt.

Read also: Brazil approves Bausch Health, Nicox intraocular pressure treatment VYZULTA

The Canadian company's debt piled up due to aggressive deal-making under former Chief Executive Officer Mike Pearson.

The company's eye-care unit, Bausch + Lomb, was recently listed in the United States and Canada.

Read also: Bausch + Lomb eyeing expansion to 800 towns



Bausch HealthBausch Health newsinitial public offeringSolta MedicalIPOValeant Pharma
Source : Reuters
Ruchika Sharma
Ruchika Sharma

    Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

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