Business News: Solta IPO Put on Ice

Bausch Health Companies Inc. is suspending its plans for the Solta IPO due to challenging market conditions and other factors.

Bausch Health Companies Inc. is suspending its plans for the Solta IPO due to challenging market conditions and other factors.

Bausch Health stated that the interests of the Company's stakeholders are best served in the near-term by focusing on driving Solta's revenue, profits and cash flow while also achieving key operational and regulatory milestones. For now, Solta will remain as part of Bausch Health and continue to contribute to the deleveraging of the Company's balance sheet. The Company will revisit alternative paths for Solta in the future.

"Solta is a valuable business with significant potential for market share gains and geographic expansion in the fast-growing medical aesthetics business," says Thomas J. Appio, chief executive officer, Bausch Health, in a news release.  "I look forward to working with the team to drive Solta's continued growth and innovation."

Solta’s portfolio of devices inckuses the Thermage RF systems, Fraxel® laser, Clear + Brilliant® laser and VASER® ultrasonic systems.