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Summary
- Bausch reduced its debt by C$100 million in 2020 through stock and cash options.
- Bausch’s sharp debt management skills kept the company out of harm during COVID.
- Greenbrook stocks surged more than 1100 per cent in the past 12 months.
These two Canadian healthcare companies, Bausch Health Companies Inc. (TSX:BHC) and Greenbrook TMS Inc. (TSX:GTMS), are currently among the top performers in the industry segment.
Bausch, which operates in multiple countries, has managed to pull off the COVID-hit 2020 with relative ease. It gave a significant performance with some sharp debt management skills.
Greenbrook, on the other hand, was included in the world’s first psychedelics ETF managed by Horizons.
Besides incredible revenue growth, Greenbrook has implemented its business at an optimal pace through its 125 centers for the treatment of various mental health illnesses.
Stocks of both companies have seen exponential growth over the past year, making them the best bet for investors eyeing long-term gains.
Here are some company highlights and fundamentals.
©Kalkine Group 2021
Bausch Health Companies Inc. (TSX:BHC)
Bausch manufactures a range of generic pharmaceutical drugs and medical devices through its flagship business channels such as Bausch+Lomb, Salix, and Ortho Dermatology.
The company reduced its debt by C$100 million in 2020 through stock and cash options.
Bausch posted revenue of C$2.2 billion in the fourth quarter of 2020, which was a decrease of C$11 million year-over-year (YoY). Its full-year revenues were around C$8 billion, a decline of 7 per cent YoY.
Still, it was a significant performance, considering the large-scale COVID disruptions.
According to Bausch Chairman Joseph C. Papa, the company’s vigorous performance during the downturn, matched by robust debt management, has enhanced its future growth opportunities. The company was able to repay C$900 million to its lenders from the 2020 earnings.
Bausch stocks were trading at C$41.13 per share on Wednesday. In the past three months, the stock surged nearly 66 per cent and in the last 12 months by 46 per cent.
The company has a market cap of C$14 billion.
Pic Credit: Pixabay.
Greenbrook TMS Inc. (TSX:GTMS)
Greenbrook provides treatment for mentally ill patients, including depression, through its leading Transcranial Magnetic Stimulation (TMS) technology.
It has treated 14,000 patients to date using TMS.
Greenbrook stocks were trading at C$18.59 at close on Wednesday. Its value surged 400 per cent in the past 30 days and more than 1100 per cent in the past 12 months.
The stock will start trading on the Horizons Psychedelic Stock Index ETF index, the world’s first such exchange. The index started trading on January 27, 2021, with the symbol PSYK.
In Q3 ended September 30, 2020, its revenues were up 42 per cent to US$12 million, compared to the same period in 2019. It recorded revenue growth of 43 per cent to US$33.2 million in the first nine months of 2020 compared to the corresponding period in the previous year.
The company is expected to announce its fourth-quarter results on March 31, 2021. According to Greenbrook CEO Bill Leonard, the company will focus on prudent use of resources as it continues to expand its centers in the upcoming quarters.
Greenbrook has a market cap of C$252 million.
