- Solta Medical Corporation ("Solta"), a wholly owned subsidiary of Bausch Health Companies Inc. (NYSETSX: BHC) ("Bausch Health"), announced that Gary Gemignani will join as Chief Financial Officer (CFO), effective March 28, 2022 .
An accomplished health care executive with more than 35 years of financial and corporate strategy experience, Mr. Gemignani has served in multiple CFO roles at various life sciences and pharmaceutical companies for nearly 20 years. Earlier in his career, he served in numerous global finance functions, including financial controller roles in the United States and the Asia Pacific region for Novartis Pharmaceuticals, Prudential Financial and Wyeth, which followed a lengthy tenure at Arthur Andersen.
"Gary has a well-established track record in the life sciences industry, and his expertise in both finance and operations makes him a welcome addition to our Solta leadership team," said Scott A. Hirsch , chief executive officer, Solta. "I have known Gary for several years, and I am confident his global financial experience is the right match for us as we embark upon this new chapter for Solta and launch our IPO, subject to market conditions, approvals and other factors."
"It's an exciting time to join Solta, which has a strong reputation as an innovative leader in medical aesthetics, and I look forward to working with Scott and the leadership team during this pivotal time for the company," said Mr. Gemignani.
About Gary Gemignani
Gary Gemignani most recently served as executive vice president (EVP) and CFO of Acacia Pharma Group plc where he led the Finance and Corporate Strategy functions. Prior to that, he served as EVP and CFO of Synergy Pharmaceuticals Inc. from 2017 to 2019 and as chief executive officer and CFO of Biodel Inc. from 2014 to 2016. He also previously served as a consultant for TNI Biotechnology from 2012 to 2014; as EVF and CFO of Champions Oncology Inc. from 2011 to 2013; as EVP, CFO and chief operating officer of Coronado Biosciences from 2010 to 2011; and as EVP and CFO for Gentium S.P.A. from 2006 to 2010. Earlier in his career, Mr. Gemignani served in various roles of increasing importance in the finance organizations at Novartis Pharmaceuticals, Prudential Financial and Wyeth. He began his career in 1986 at Arthur Andersen & Company. Mr. Gemignani currently serves on the Boards of Directors for Algorithm Sciences and Bluejay Diagnostics. He earned a B.S. in Accounting from St. Peter's College .
On Feb. 8, 2022 , Bausch Health announced that Solta publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the "SEC") relating to a proposed initial public offering ("IPO") of Solta's common shares. The number of shares to be offered and the price range for the proposed offering have not yet been determined. Solta has applied to list its common shares on the Nasdaq Global Select Market under the symbol "SLTA."
This news release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Solta is a leading global aesthetic medical device company focused on the development, manufacture and sale of innovative technologies that provide aesthetic and therapeutic benefits. With one of the longest track records in the aesthetic medical device industry, Solta's category-leading brands – Thermage®, Clear + Brilliant®, Fraxel® and VASER® – are well-respected and well-known to consumers of skin and body aesthetic treatments. Solta is headquartered in Vaughan, Ontario with a corporate office in Bridgewater, New Jersey . For more information, visit www.solta.com and connect with us on LinkedIn .
About Bausch Health
Bausch Health Companies Inc. (NYSE/TSX: BHC) ("Bausch Health") is a global company whose mission is to improve people's lives with our health care products. Bausch Health develops, manufactures and markets a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. Bausch Health is delivering on its commitments as it builds an innovative company dedicated to advancing global health. For more information, visit www.bauschhealth.com and connect with us on Twitter and LinkedIn .
This news release may contain forward-looking statements about a potential IPO or transaction involving Solta, which may generally be identified by the use of the words "anticipates," "hopes," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions, including statements about the timing of completion of the IPO and the pricing of the common shares to be issued pursuant to the IPO. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties identified in the prospectus relating to the IPO; risks relating to the transaction not being timely completed, if completed at all, including due to unfavorable market or other conditions or factors; risks related to the receipt of (or failure to receive) the regulatory approvals required in connection with the transaction and the timing of receipt of such approvals; the possibility that the other approvals for or conditions to the transaction are not received or satisfied on a timely basis or at all; changes in the anticipated timing for closing the transaction; business disruption during the pendency of or following the transaction; diversion of management time on transaction-related issues; the ability to retain Solta management team members; risks related to the reaction of customers and other parties to such transaction; the impact of such transaction on relationships with customers, suppliers, employees and other business counterparties; and other events that could adversely impact the completion of the transaction, including industry or economic conditions outside of Bausch Health's or Solta's control. In particular, neither Bausch Health nor Solta can offer any assurance that any IPO will occur at all, or that any such transaction or transactions will occur on the timelines, in the manner or on the terms anticipated by Bausch Health or Solta.
Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Neither Bausch Health nor Solta undertakes any obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.
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SOURCE Bausch Health Companies Inc.