Pores and skin-Care Enterprise of Bausch Well being Information for IPO
Textual content measurement
Bins of Bausch and Lomb contact lens resolution sit on a shelf at Arguello Market on Might 28, 2013 in San Francisco, California.
Justin Sullivan/Getty Photos
Solta Medical Corp, one in all two corporations that
Bausch Well being Firms
is spinning off, has filed to go public.
Solta Medical filed confidentially for the IPO in September however made the submitting public on Tuesday. Solta didn’t disclose what number of shares it could elevate or their worth vary, in response to a Feb. 8 prospectus. That data will are available future filings. The corporate will commerce on the Nasdaq underneath the ticker SLTA.
Goldman Sachs
and
Morgan Stanley
are lead underwriters on the deal.
Solta is the skin-care enterprise of Bausch Well being. The Bothell, Wash., firm develops, makes and sells medical gadgets that resurface and tighten the pores and skin, in addition to offering physique contouring. Manufacturers embody Thermage, Clear + Good, Fraxel and Vaser.
Internet revenue for Solta widened to $72.8 million for the 9 months ended Sept. 30 from $45.3 million in revenue for a similar interval in 2020, the prospectus stated. Income rose 32% to $218.7 million for the Sept. 30 interval. Solta employs about 380 folks.
Bausch Well being, the father or mother agency, will proceed to personal a majority of Solta’s voting energy after the IPO, the prospectus stated. Solta didn’t disclose how a lot the father or mother owns or how a lot it’s promoting with the IPO. That data can even include future filings.
Solta is the second firm from Bausch Well being to hunt an IPO. In August, Bausch Well being stated it could separate Solta Medical into an impartial publicly traded firm. The father or mother firm, which is attempting to scale back its $23.7 billion debt load, can be spinning off Bausch + Lomb, its eye-health unit, right into a separate public firm. Bausch + Lomb filed in January to go public however has but to set phrases.
In an announcement Tuesday, Bausch Well being stated it has accomplished all inner procedural steps and is totally ready to launch the IPOs of each Solta and Bausch + Lomb. Each choices come throughout a gradual time within the IPO market. Broad market volatility and inflation fears have triggered new points to gradual this 12 months. The variety of IPOs this 12 months is down about 70% from 2021, with a dozen corporations having gone public as of Feb. 4, elevating practically $2 billion, Dealogic stated.
Bausch Well being stated it’s “actively monitoring market situations to find out the paths ahead.”
Write to Luisa Beltran at [email protected]
