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Bausch mulls eyewear sale
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November 18, 1998: 8:34 a.m. ET
Plans to focus on eye care businesses; retains Warburg as adviser
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NEW YORK (CNNfn) - Bausch & Lomb said Wednesday it is considering the possible sale of its eyewear business in order to focus on eye care-related businesses.
The Rochester, N.Y.-based company brought on investment banking firm Warburg Dillon Reed LLC to evaluate options for the eyewear unit, which can include a joint venture, spinoff or outright sale of the business.
Bausch & Lomb said the evaluation is consistent with the company's new focus on the opportunities from its three eye-related healthcare businesses - vision care, pharmaceuticals and surgical products.
According to the company, it also fits in with its objective to maximize the profitability of its eyewear product lines, including sunglass brands Ray-Ban, Killer Loop, Arnette and Revo.
Company President and Chief Executive William M. Carpenter said Bausch & Lomb's eyewear unit posted a "substantial improvement in the performance" of the business this year.
"Even as these improvements in the eyewear business continue, it is apparent to us that Bausch & Lomb's greatest potential for accelerated growth in the future lies in our healthcare businesses for the eyes," Carpenter said. "Those businesses share common professional customer bases and distribution channels, similar engineering and manufacturing platforms, comparable R&D needs and capabilities, and similar infrastructure needs."
He added the company has been "making good progress" in its eyewear business, and said Bausch & Lomb has reduced costs and increased distribution margin performance for its Ray-Ban brand sunglasses and other brands.
Shares of Bausch & Lomb (BOL) closed up 9/16 at 47-4/8 Tuesday on the New York Stock Exchange. 
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Bausch & Lomb
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