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Bausch + Lomb Stage: LBOs and Special Situations Year of Investment: 2007 Web Site : http://www.bausch.com
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Bausch + Lomb, based in Rochester, New York, was founded in 1853 and is one of the oldest continually operating companies in the US. The company has one of the best-known health-care brands in the world and offers one of the most comprehensive product portfolios in the ophthalmic industry. Bausch + Lomb enjoys leading market positions in several major product categories and has products available in more than 100 countries. The company’s core businesses include contact lenses and lens care solutions, as well as ophthalmic surgical and pharmaceutical products. In March 2010, Warburg Pincus recruited Fred Hassan, former Chairman and CEO of Schering-Plough, as the new Chairman of Bausch + Lomb, and Brent Saunders, former President of Global Consumer Health at Schering-Plough, as the new Chief Executive Officer of Bausch + Lomb. In June 2012, Bausch and Lomb acquired ISTA Pharmaceuticals to bolster its pharmaceutical portfolio and pipeline. Warburg Pincus acquired Bausch + Lomb in 2007, which had previously been a publicly traded NYSE company. Since the acquisition, revenue and profits have increased by approximately 30% and 60%, respectively.
