Having a troubled past under the name Valeant, Bausch Health Companies (BHC) saw its leverage balloon. The stock price fell over 90% from its high and forced the company to make major changes including a name change, shedding assets to reduce debt, and an upcoming Spinoff of its eye health segment.
The Spinoff was originally expected to be completed by the first quarter of 2021 but has since been pushed to Q3 2021. However, the fact BHC can consider a Spinoff in the first place indicates a remarkable turnaround. The Edge is convinced this is one of the most extraordinary re-inventions of the last few years.