Bausch & Lomb Aspires to Return to Public Markets: CEO
1/10/2013 7:25:56 AM
Eye care company Bausch & Lomb is focused on future growth at the same time it is "aspiring to return to public markets," Chief Executive Officer Brent Saunders said following a presentation here. He declined to comment on reports that Warburg Pincus, which took the company private in 2007 for about $4.5 billion, including $830 million in debt, is looking for buyers willing to pay more than $10 billion for the eye care company. Sources have also said the private equity firm could turn to an initial public offering (IPO) as an alternative. "We are aspiring to return to public markets," Saunders said on the sidelines of the J.P. Morgan Healthcare Conference on Tuesday. Bausch & Lomb expects to post record sales of $3.1 billion for 2012, according to the CEO. Full-year earnings before interest, taxes, depreciation and amortization are expected to total around $640 million.
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