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Bausch Health Suspends Plan for IPO of Solta Skin-Care Unit

  • Solta IPO decision follows below-target performance of B + L
  • Bausch Health shares rise in late trading after announcement
Updated on

Bausch Health Cos. has suspended plans for an initial public offering of its Solta Medical skin-care business, a month and half after the spinoff of another unit fell short of its fundraising goals.

With its own stock battered this year amid volatility and inflation fears, Bausch Health said in a statement Thursday that it decided to suspend its Solta plans “in light of challenging market conditions and other factors.” The company said the interests of its stakeholders are best served in the near-term by focusing on driving Solta’s revenue, profits and cash flow.