Warburg Pincus has agreed to sell portfolio company Bausch + Lomb to Valeant Pharmaceuticals (NYSE: VRX) for $8.7 billion in cash. The deal includes about $4.5 billion that will go to the company's private equity backers, including Warburg Pincus (87.1% ownership) and Welsh, Carson, Anderson & Stowe (11.1%), and approximately $4.2 billion which will be used to repay the company's outstanding debt. Based in Rochester, NY, Bausch + Lomb is a global eye health company that operates in the pharmaceutical, vision care and surgical market segments. Offerings include contact lenses, solutions, intraocular lenses, surgical equipment, over-the-counter eye drops, and other medications and solutions.
