Bausch & Lomb (since 2010 stylized as Bausch + Lomb[2]) is an [3][4] American Canadian[5] eye health products company based in Vaughan, Ontario, Canada. It is one of the world's largest suppliers of contact lenses,[6] lens care products, pharmaceuticals, intraocular lenses, and other eye surgery products.[7] The company was founded in Rochester, New York, in 1853 by optician John Bausch and cabinet maker turned financial backer Henry Lomb. Until its sale in 2013, Bausch + Lomb was one of the oldest continually operating companies in the United States.[8]
Bausch + Lomb was a public company listed on the NYSE, until it was acquired by private equity firm Warburg Pincus in 2007. In May 2013, Canadian-based Valeant Pharmaceuticals announced that it would acquire Bausch + Lomb from Warburg Pincus for $4.5 billion in cash.[9][10] The deal, which was approved by shareholders, closed on August 5, 2013.[11][12] On May 6, 2022, the company completed an initial public offering and again became publicly traded.[13] As of 2022, the company employs about 12,900 people,[1] and manufactures and markets health care products directly or indirectly in approximately 100 countries.[14]
History
Early years
In 1853, John Bausch and Henry Lomb, both German immigrants, established a small but ambitious workshop producing monocles in Rochester, New York.[15][16] By 1861, their operation had expanded to manufacturing vulcanite rubber eyeglass frames and other precision vision products.[17]
During the American Civil War, the Union blockade caused the price of gold and European horn to rise dramatically. This resulted in a growing demand for the Bausch + Lomb spectacles made from vulcanite.[18]
Operations
Vision Care
In the last few years, several business areas in the Vision Care division have been developed in the framework of product diversification. The vision care segment is its main business activity, making up 58% of their quarter one 2025 revenue leading with the manufacturing of contact lenses.[28] The product assortment includes daily soft contact lens that are designed to be worn and discarded at the end of the day, such as the "Biotrue ONEday"[29] or "Bausch + Lomb ULTRA" silicone hydrogel lenses which can be changed after seven days without being taken out at night.[30] These newer lens ranges represent advancements in material science and design, offering enhanced comfort, moisture retention, and visual clarity for a variety of patients including those with astigmatism or presbyopia.[31]
Consumer Products & Eye Care
Lawsuits
In 1994, several states in the US, including Texas, opened an investigation against Bausch & Lomb. This investigation was based on the sale of duplicate contact lenses under different names and prices. Three different versions of the same contact lens were being sold under OptimaFW, Medalist lenses, and SeeQuence2. OptimaFW, the most expensive version, was available with a lifetime of one year, The mid-priced, Medalist lenses were sold with a lifetime of three months, and SeeQuence2, the least expensive, came with a lifetime of two to three weeks. By 1996, the company ensured that all three versions carried the OptimaFW tag and tried to standardize the packaging, but the pricing was still different. In 1996, the case was settled for $68 million. In 1997, 17 states pressured Bausch & Lomb to stop the sale of duplicate lenses, deceptive practice stated in the court. The settlement also demanded the company to pay $1.7 million or $100,000 to each state to cover investigative costs.[45]
In 2009, Bausch & Lomb spent $250 million to settle six hundred lawsuits filed by consumers exposed to Fusarium keratitis, a fungal infection, after using its contact solution ReNu with MoistureLoc. Between June 2005 and September 2006, one hundred eighty cases were reported, out of which seven patients required eye removal and sixty required corneal transplants.[46][47]
Reception
In 2003, Bausch & Lomb received a 100% rating on the Corporate Equality Index released by the Human Rights Campaign.[53]
External links
References
- Bausch + Lomb Corporation 2022 Annual Report (Form 10-K) U.S. Securities and Exchange Commission, 22 February 2023^
- Bausch + Lomb introduces new logo, icon 2010-03-03^
- Valeant to buy contact-lens giant Bausch & Lomb for $4.5 billion