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Bausch Health exploring potential sale of eye-care business - Bloomberg News

Reuters
·1 min read

(Reuters) - Canadian drugmaker Bausch Health Companies Inc is exploring a potential sale of its eye-care business, Bloomberg News reported on Wednesday, citing people with knowledge of the matter.

Bausch had last year said it was spinning off its eye-care unit, Bausch + Lomb, into a separate publicly listed company, seven years after acquiring it for nearly $9 billion.

The unit includes eye-health products like contact lenses and surgical devices. Its Bausch + Lomb segment raked in $1.24 billion in the fourth quarter.

The drugmaker has not made a final decision yet and could still opt to spin off or keep the business, the Bloomberg report said.

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The company did not immediately respond to Reuters request for comment.

It has had calls from activist investor Glenview Capital Management for Bausch to spin-off Bausch + Lomb by year-end.

(Reporting by Trisha Roy in Bengaluru; Editing by Arun Koyyur)