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  "documentTitle": "Bausch Health Companies | Shareholder Engagement Presentation Deck | 19 slides",
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  "authorName": "Bausch Health",
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  "presentationDate": "2022-06-01 00:00:00",
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      "text": "Donut chart showing 55% Bausch Pharma + Solta and 45% Bausch + Lomb, with $8.4 billion total sales in 2021.",
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      "text": "1. Non-GAAP measure. See appendix for further information on definition and reconciliation of non-GAAP measures. 2. Bausch Health, excluding Solta Medical and BAUSCH + LOMB is referred to as “Bausch Pharma”. 3. Subject to market conditions, shareholder, regulatory, stock exchange and other approvals and other factors. 4. Average unlevered adjusted free cash flow conversion (non-GAAP) for the three-year period ended December 31, 2021.",
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      "text": "Bausch + Lomb: 45% of total, +10% reported/ +9% organic growth in 2021. ~89% owned by Bausch Health, opportunistically monetize an additional ~8% of B+L equity. Future spin-off subject to 6.5-6.7x net leverage of pro-forma BHC. Strategy: grow in large durable markets, driven by new products, focus on megatrends and M&A.",
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      "text": "Bausch Pharma + Solta: 55% of total, +1% reported/ +3% organic growth in 2021. 80%+ unlevered adjusted free cash flow conversion capability to support future debt reduction. Strategy: accelerate growth in Salix and International Pharmaceuticals; increase product pipeline through R&D/ BD; drive customer adoption of Solta through brand awareness, geographic expansion.",
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