| Item 1. | |
| (a) | Name of issuer:
Bausch Health Companies Inc. |
| (b) | Address of issuer's principal executive offices:
2150 St. Elzear Blvd. West, Laval, Quebec, Canada, H7L 4A8 |
| Item 2. | |
| (a) | Name of person filing:
Each of the following is hereinafter individually referred to as a "Reporting Person" and collectively as the "Reporting Persons." This statement is filed on behalf of:
GoldenTree Asset Management LP (the "Investment Manager")
GoldenTree Asset Management LLC ("IMGP")
Steven A. Tananbaum |
| (b) | Address or principal business office or, if none, residence:
The principal business address of each of the Reporting Persons is 300 Park Avenue, 21st Floor, New York, NY 10022. |
| (c) | Citizenship:
Investment Manager and IMGP are organized under the laws of the State of Delaware. Mr. Tananbaum is a citizen of the United States. |
| (d) | Title of class of securities:
Common Shares, no par value |
| (e) | CUSIP No.:
071734107 |
| Item 3. | If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: |
| (a) |  Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
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| (b) | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
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| (c) | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
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| (d) | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
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| (e) | An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
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| (f) | An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
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| (g) | A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
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| (h) | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
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| (i) | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
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| (j) | A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
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| (k) | Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
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| Item 4. | Ownership |
| (a) | Amount beneficially owned:
The information contained on the cover pages to this Schedule 13G is incorporated by reference into this Item 4.
The ownership information presented herein represents beneficial ownership of Common Shares of the Issuer as of the date hereof, based upon 369,550,086 Common Shares outstanding as of April 25, 2025, based on the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 1, 2025.
The securities reported herein include 34,254,889 Common Shares held of record by certain managed accounts (collectively, the "Accounts") for which the Investment Manager serves as investment manager. In addition, Mr. Tananbaum is the holder of record of 988,823 Common Shares. Mr. Tananbaum is the managing member of IMGP, which is the general partner of the Investment Manager. As a result of these relationships, each of the Reporting Persons may be deemed to share beneficial ownership of the securities held of record by the Accounts. |
| (b) | Percent of class:
See Item 11 of each of the cover pages is hereto. |
| (c) | Number of shares as to which the person has:
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| | (i) Sole power to vote or to direct the vote:
See Item 5 of each of the cover pages hereto.
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| | (ii) Shared power to vote or to direct the vote:
See Item 6 of each of the cover pages hereto.
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| | (iii) Sole power to dispose or to direct the disposition of:
See Item 7 of each of the cover pages hereto.
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| | (iv) Shared power to dispose or to direct the disposition of:
See Item 8 of each of the cover pages hereto.
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| Item 5. | Ownership of 5 Percent or Less of a Class. |
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| Item 6. | Ownership of more than 5 Percent on Behalf of Another Person. |
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If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
The Investment Manager is an investment adviser registered under Section 203 of the Investment Advisers Act of 1940, as amended. The business of Investment Manager is the rendering of financial services and as such, it provides discretionary investment advisory services to each of the Accounts, which have the right to receive the proceeds from the sale of, or the power to direct the receipt of dividends from, the securities reported in this Schedule 13G. |
| Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. |
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Not Applicable
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| Item 8. | Identification and Classification of Members of the Group. |
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Not Applicable
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| Item 9. | Notice of Dissolution of Group. |
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Not Applicable
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Rule 13d-1(c)