Health

Valeant to Buy Bausch & Lomb for $8.7 Billion

The agreement continues the flurry of deal-making in the health care industry, as companies seek to buy the growth they are hard-pressed to generate on their own.
The agreement continues the flurry of deal-making in the health care industry, as companies seek to buy the growth they are hard-pressed to generate on their own.
[THE NEW YORK TIMES]

Bausch & Lomb, the eye care company, agreed on Monday to sell itself to Valeant Pharmaceuticals International of Canada for about $8.7 billion, sidestepping the lengthier process of an initial public offering.

Under the terms of the deal, Valeant will pay $4.5 billion to the investor group that owns Bausch & Lomb, led by the private equity firm Warburg Pincus. It will also spend about $4.2 billion to repay Bausch & Lomb’s debt.

The agreement continues the flurry of deal-making in the health care industry, as companies seek to buy the growth they are hard-pressed to generate on their own. Announced merger volume in the sector this year is up 14 percent from the period a year earlier, even as takeovers have fallen 8 percent.

Read more about the Bausch & Lomb sell at The New York Times.

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NNPAFreddie

Freddie Allen is the National News Editor for the NNPA News Wire and BlackPressUSA.com. 200-plus Black newspapers. 20 million readers. You should follow Freddie on Twitter and Instagram @freddieallenjr.

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