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Bausch & Lomb Stage: LBOs and Special Situations Date of Investment: 2007 Web Site : http://www.bausch.com
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Bausch & Lomb, founded in 1853 and headquartered in Rochester, New York, is one of the oldest continually operating companies in the U.S. with more than 11,000 employees worldwide. The Bausch & Lomb name is one of the best known and most respected healthcare brands in the world. The Company has one of the most comprehensive product portfolios in the ophthalmic industry, leading market positions in several major product categories and broad geographic reach with products available in over 100 countries. The Company is focused on eye health, and its core businesses include contact lenses and lens care solutions, and ophthalmic surgical and pharmaceutical products.
In October 2007, Warburg Pincus led the $4.4 billion acquisition of Bausch & Lomb. In January 2008, Warburg Pincus recruited Gerald M. Ostrov, former Company Group Chairman of Worldwide Vision Care for Johnson & Johnson, as the new Chairman and Chief Executive Officer. In February 2008, Warburg Pincus helped Bausch & Lomb meaningfully enhance its portfolio of ophthalmic surgical products via its acquisition of eyeonics, the developer and marketer of the crystalens intraocular lens (IOL), the first and only FDA-approved accommodating IOL for the treatment of cataracts. Effective January 2009, Bausch & Lomb and 20/10 Perfect Vision AG, a German-based femtosecond laser developer, formed Technolas Perfect Vision, a joint venture focused on the laser vision correction industry. The joint venture combines the refractive surgery assets of both businesses, and will focus on introducing new, laser-based vision correction procedures, initially focusing on treatments for presbyopia.
