Company: BLCO
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001860742-25-000023
Chunk: 18

Company: Bausch & Lomb Corp
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 8
Chunk 18
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 or first quarter of 2026, subject to receipt of regulatory approval and other customary closing conditions, and will include an upfront cash payment of approximately $75 million due at closing. The acquisition is expected to unlock manufacturing capacity and expand the Company's margins.Acquisition of Whitecap BiosciencesOn January 3, 2025, the Company, through its affiliate, acquired Whitecap Biosciences, LLC, (“Whitecap Biosciences”) for an upfront payment of approximately $28 million and potential future milestone and royalty payments. The acquisition is expected to expand the Company’s clinical-stage pipeline, as Whitecap Biosciences is currently developing two innovative therapies for potential use in glaucoma and geographic atrophy. The Company accounted for the transaction as an asset acquisition and during the nine months ended September 30, 2025, the Company expensed the upfront payment of approximately $28 million as acquired in-process research development costs, as included within Other expense on the Condensed Consolidated Statements of Operations.2024 AcquisitionsAcquisition of Elios VisionOn December 10, 2024, the Company, through its affiliate, acquired Elios Vision, Inc. (“Elios Vision”), who was the developer of the ELIOS® procedure, the first clinically validated, minimally invasive glaucoma surgery procedure using an excimer laser. The Company consummated the acquisition for: (i) a cash payment of approximately $99 million and (ii) potential future milestone obligations. This acquisition is expected to bolster the Company’s glaucoma treatment portfolio. The acquisition of Elios Vision has been accounted for as a business combination under the acquisition method of accounting. The assets acquired and liabilities assumed are included within the Company’s Surgical segment.As of the acquisition date, the potential future milestone obligations, included as part of the aggregate purchase consideration, were recognized as a contingent consideration liability of $89 million, of which $11 million was recorded as a current liability. The Company reassesses its acquisition-related contingent consideration liabilities each quarter for changes in fair value. See Note 6, “FAIR VALUE MEASUREMENTS” for additional information regarding the fair value assessment of the acquisition-related contingent consideration liabilities. In addition, as of the acquisition date, the Company allocated the aggregate purchase consideration of $188 million based on estimated  fair values, which included recording $177 million of identifiable intangible assets, $16 million of other net liabilities and $27 million of goodwill. See Note 4,