Bausch + Lomb announced today that it has begun considering the possibility of a sale following a request from regulatory authorities. The eye care company, headquartered in Vaughan, Ontario, was prompted by the Canadian Investment Regulatory Organization (CIRO) due to stock market fluctuations and speculation. Bausch + Lomb’s shares are listed on both the New York Stock Exchange and the Toronto Stock Exchange.
In light of these developments, the company released a statement detailing its intentions to potentially distance itself from its parent company, Bausch Health.
“The Bausch + Lomb board of directors has given the green light to management and its advisors to investigate the prospect of a sale. This is among several strategies being evaluated to achieve a complete separation from Bausch Health Companies Inc. The process is in progress, and there is no guarantee that it will lead to any transaction.
“Although the company would typically refrain from discussing deal negotiations publicly, CIRO required verification of the potential sale due to the stock volatility often caused by market speculation. Bausch + Lomb does not plan to divulge further information until the situation necessitates more disclosure.”
In recent news, Bausch + Lomb has also acquired Elios Vision, a developer of glaucoma therapies. The Elios procedure utilizes an excimer laser for the treatment of glaucoma during cataract surgery, eliminating the need for implants. This acquisition is seen as a valuable addition to Bausch + Lomb’s glaucoma solutions, which already include both pharmaceutical and surgical treatments.