Benzinga | Apr 29, 2021 12:36PM EDT

Bausch Health Exploring Potential Divestiture Of Eye Care Units: Bloomberg

* Bausch Health Companies Inc (NYSE: BHC) said in August that it would spin off its eye-care unit and operate it as an independent, publicly traded company. As a standalone company, Bausch + Lomb could be valued at $20 billion to $30 billion, according to Bloomberg Intelligence.

* The business has attracted interest from private equity bidders as well as strategic buyers.

* The unit includes eye-health products like contact lenses and surgical devices. Its Bausch + Lomb segment raked $1.24 billion in the fourth quarter.

* Bloomberg reported that the company hasn't made a final decision on a sale and could still opt to spin off or keep the business. Bausch Health could also weigh a sale of part of the business instead of a complete divestiture.

* Bausch Health has been divesting non-core assets and paying down debt to improve its balance sheet and streamline its offerings.

* Last month, it announced the sale of Egyptian drug unit Amoun Pharmaceutical to Abu Dhabi sovereign wealth fund ADQ for $740 million.

* Valeant acquired Bausch & Lomb Holdings Inc in 2013 in an $8.7 billion deal.

* Price Action: BHC shares are down 0.06% at $32.52 during market trading hours on the last check Thursday.