Warburg closes $4.5bn Bausch & Lomb buyout:
This article was originally published in Clinica
Yesterday saw the start of a new chapter in the 154-year history of ophthalmic company Bausch & Lomb, began its first day as a private firm under the protective wing of Warburg Pincus. The private equity firm completed the $4.5bn buy-out of B&L (including an assumption of $830m of debt) on Friday October 26. Nasdaq trading of shares in Rochester, New York-based B&L stopped at the end of the day, closing at $64.98 before being delisted from the stock exchange. The company hopes now to rebuild its finances, which have undergone a beating over the last year after a worldwide recall in May 2006 of its best-selling multipurpose lens cleaner.