Bausch To Spin-Out The Bausch Part Of Its Business
The company formerly known as Valeant, put together by a series of mergers, is ready to spin out the legacy Bausch + Lomb eyecare business that it used in its rebranding.
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CEO Joseph Papa says firm isn’t valued equal to sum of its parts. "If some of the parts don't seem to make sense or don't seem to be capturing the full value of a business,” Bausch “will look at all the alternatives for looking at things like spin-offs of parts of the business,” he says.
Valeant will change its name to Bausch Health beginning in July and get a new ticker symbol, BHC, as the new management team looks to leave the company's checkered past behind.