Bausch + Lomb, a global eye health business owned by Bausch Health Companies Inc. (BHC), announced Tuesday that it has signed a deal with Lochan LLC. This software development company brings new solutions to complex ophthalmic calculations using artificial intelligence and advanced analytics.
Under the agreement, the two companies will collaborate to develop the next generation of Bausch + Lomb eyeTELLIGENCE™ clinical decision support software. They plan to launch the first phase of the software in 2022.
Joseph Gordon, U.S. president, Bausch + Lomb said, “In 2018, we started our journey to deliver on this need when we became the first company to connect the operating room to the cloud using our eyeTELLIGENCE technology. The agreement with Lochan propels us into the next phase of this journey to further enhance surgeon’s ability to improve practice efficiency.”
Ophthalmic surgical procedures require a manual transfer of data between each step, which can take a lot of time and lead to unintentional human errors.
The eyeTELLIGENCE software allows surgeons to experience better connectivity between the different phases of a surgery planning process to maximize overall efficiency.
Mark Lobanoff, M.D., founder of Lochan LLC, said that the next generation of eyeTELLIGENCE software will help surgeons use data to make faster treatment and procedural decisions. (See Bausch Health Companies Inc. stock analysis on TipRanks)
On June 1, H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating with a $55.00 (C$66.45) price target. This implies 74% upside potential.
Selvaraju expects Bausch Health to post a loss per share of $1.71 for the second quarter of 2021.
Overall, the stock scores a Moderate Buy consensus rating based on 3 Buys, 1 Hold, and 1 Sell. The BHC average analyst price target of C$11.28 implies 57% upside potential to the current levels. Shares have gained approximately 40% year-to-date.
TipRanks’ Smart Score
BHC scores a 3 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock returns are likely to underperform the overall market.
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