LAVAL, Que. 鈥� Bausch Health Companies Inc. is suspending plans for an initial public offering of its Solta Medical business due to what it says are challenging market conditions and other factors.
The company says it believes the interests of the company's stakeholders are best served in the near-term by focusing on Solta's revenue, profits and cash flow.
Stock markets have been under pressure in recent weeks, trading well off their highs reached earlier this year.
Solta is a skin care company.
Bausch Health says it will remain as part of the company and continue to contribute to the deleveraging of its balance sheet, but that it will revisit alternative paths for Solta in the future.
The company completed an initial public offering of its eye health business Bausch + Lomb earlier this year.
This report by The Canadian Press was first published June 17, 2022.
Companies in this story: (TSX:BHC)
The Canadian Press
