Bausch + Lomb announced today that, in response to a request from regulatory authorities, it authorized the exploration of a potential sale.
The Vaughan, Ontario-based eye care company received a request from the Canadian Investment Regulatory Organization (CIRO). It was related to stock volatility and market rumors. Bausch + Lomb stock trades on the New York Stock Exchange and Toronto Stock Exchange.
In response, the company issued a statement outlining its plans for a potential separation from parent company Bausch Health.
“The Bausch + Lomb board of directors authorized management and its advisors to explore a potential sale, which is one of several options being explored to complete a full separation from Bausch Health Companies Inc. That process is ongoing, and there can be no assurance that it will result in a transaction.
“While the company normally would not comment on deal negotiations, CIRO requested confirmation of a potential sale process given stock volatility often associated with market rumors. Bausch + Lomb does not intend to provide additional detail until further disclosure is appropriate or necessary.”
Recent news for the company includes the acquisition of Elios Vision, a glaucoma therapy developer. The Elios procedure uses an excimer laser to treat glaucoma in conjunction with cataract surgery without implants. Bausch + Lomb believes the deal enhances its glaucoma portfolio which already features pharmaceutical and surgical approaches.
