Bausch Health vs Visa: Founders, CEOs and History
Bausch Health was founded in 1994 by Eugene Melnyk, Milan Panic and is led by Thomas J. Appio. Visa was founded in 1958 by Dee Hock and is led by Ryan McInerney.
Company facts
Bausch Health
- Founded
- 1994
- Headquarters
- Laval, Quebec, Canada
- Current CEO
- Thomas J. Appio
- Employees
- 20,300
Visa
- Founded
- 1958
- Headquarters
- San Francisco, California
- Current CEO
- Ryan McInerney
- Employees
- 34,100
Founders
Bausch Health
Eugene Melnyk
Eugene Melnyk built Biovail into Canada's largest publicly traded pharmaceutical company, with revenue growing from about $19M in 1995 to roughly $1.07B in 2006.
Milan Panic
Milan Panic ran ICN Pharmaceuticals for four decades and made it known for the broad-spectrum antiviral ribavirin, sold as Virazole.
Visa
Dee Hock
Dee Hock (1929-2022) was the founding CEO of National BankAmericard Inc., the bank-owned company that took over the BankAmericard licensing system from Bank of America in 1970 and adopted the Visa name in 1976.
CEOs and their tenures
Bausch Health
- J. Michael Pearson2008–2016
Former Chief Executive Officer
Pearson, a former McKinsey director, became chief executive of Valeant Pharmaceuticals effective February 1, 2008 and ran the company through the September 2010 merger with Canada's Biovail until early May 2016.
Source - Joseph C. Papa2016–2022
Former Chief Executive Officer
Papa, previously chief executive of Perrigo, was named chairman and CEO in April 2016 and took over in early May 2016, inheriting about $30B of debt, an SEC investigation and congressional scrutiny of Valeant-era drug pricing.
Source - Thomas J. Appio2022–present
Chief Executive Officer
Appio became chief executive officer and a director in May 2022, succeeding Joseph Papa.
Source
Visa
- Alfred F. Kelly Jr.2016–2023
Chief Executive Officer
Serving as CEO from 2016 to 2023, he heavily modernized the massive legacy network, aggressively integrating fintechs and preparing the network to process highly complex cryptocurrency transactions.
Source - Ryan McInerney2023–present
Chief Executive Officer
McInerney joined Visa in 2013 as president after senior roles at JPMorgan Chase and became chief executive on February 1, 2023, succeeding Alfred F. Kelly Jr.
Source
Timeline: Bausch Health and Visa side by side
1958Visa
BankAmericard launched
Bank of America launched BankAmericard, the direct predecessor to Visa.
1959Bausch Health
Milan Panic founds ICN Pharmaceuticals
Milan Panic, a Yugoslav immigrant to California, founded ICN Pharmaceuticals in 1959 and ran it for four decades. ICN is the predecessor of Valeant Pharmaceuticals and of today's Bausch Health.
1976Visa
Visa name adopted
The network adopted the Visa name to support international acceptance and brand consistency.
1994Bausch Health
Biovail Corporation International formed in Canada
On March 29, 1994 Eugene Melnyk consolidated his Canadian drug-delivery business by amalgamating Trimel Corporation with its subsidiary to create Biovail Corporation International, the legal entity that files today as Bausch Health Companies Inc.
2003Bausch Health
ICN renames itself Valeant Pharmaceuticals
ICN Pharmaceuticals, then based in Costa Mesa, California, took the Valeant Pharmaceuticals name in November 2003 to distance itself from the governance fights of the Panic era.
2008Bausch Health
J. Michael Pearson becomes chief executive
Valeant appointed former McKinsey director J. Michael Pearson as chief executive effective February 1, 2008, succeeding Timothy C. Tyson. Pearson replaced internal research spending with debt-funded acquisitions of marketed drugs.
2008Visa
Visa IPO
Visa became a public company, changing the economics from a bank association structure to a shareholder-owned company.
2010Bausch Health
Biovail and Valeant complete their merger
The merger of Biovail Corporation and Valeant Pharmaceuticals International closed on September 28, 2010. The combined company kept the Valeant name and Pearson as chief executive but was incorporated in Canada.
2011Bausch Health
Ortho Dermatologics bought from Johnson and Johnson
Valeant agreed to acquire the U.S. Ortho Dermatologics assets from Janssen Pharmaceuticals, a Johnson and Johnson company, for about $345M in cash, building the dermatology franchise.
2013Bausch Health
Bausch + Lomb acquired for $8.7 billion
Valeant agreed in May 2013 to buy eye-health company Bausch + Lomb from Warburg Pincus for $8.7B in cash, adding contact lenses, lens care, ophthalmic drugs and surgical devices.
2015Bausch Health
Salix acquisition closes at about $11.1 billion
Valeant completed its tender offer for Salix Pharmaceuticals on April 1, 2015 at $173 per share, about $11.1B in equity value and roughly $15.8B including debt, gaining the Xifaxan franchise.
2015Bausch Health
Drug pricing and Philidor scandal breaks
Congressional investigators pressed Valeant over 525% and 212% increases on the heart drugs Isuprel and Nitropress, bought in February 2015, and over its undisclosed ties to the Philidor mail-order pharmacy.
2016Bausch Health
Joseph Papa replaces Pearson as chief executive
Valeant named Perrigo chief executive Joseph C. Papa as chairman and CEO on April 25, 2016, and he took over in early May 2016 with about $30B of debt outstanding.
2016Visa
Alfred F. Kelly Jr. becomes CEO
Alfred F. Kelly Jr. became CEO of Visa in 2016. Chief executive of Visa from December 2016 to January 2023, when Ryan McInerney succeeded him; Kelly then served as executive chairman.
2017Bausch Health
Skincare brands and Dendreon sold to cut debt
Valeant sold the CeraVe, AcneFree and AMBI skincare brands to L'Oreal for about $1.3B and the Dendreon cancer unit to China's Sanpower Group for about $820M, using the proceeds to repay debt.
2018Bausch Health
Company renamed Bausch Health Companies Inc.
The name change from Valeant Pharmaceuticals International, Inc. to Bausch Health Companies Inc. was completed on July 13, 2018, and the shares began trading as BHC on the NYSE and TSX on July 16, 2018.
2020Bausch Health
SEC settlement closes the Philidor accounting case
On July 31, 2020 Bausch Health agreed to pay a $45M civil penalty to settle SEC charges of improper revenue recognition and misleading disclosures tied to Philidor. Former chief executive J. Michael Pearson and two other executives also settled.
2020Visa
Acquired Plaid (abandoned)
Visa acquired Plaid (abandoned) for $5.3 billion. Visa agreed in January 2020 to buy US data-connectivity fintech Plaid for USD 5.3 billion.
2022Bausch Health
Bausch + Lomb listed on the NYSE and TSX
Bausch + Lomb common stock began trading under the ticker BLCO on May 6, 2022, and a Bausch Health subsidiary sold 35,000,000 Bausch + Lomb shares in the offering. Bausch Health retained about 88% of the eye-health company and still consolidates it. Thomas J.
2022Visa
Tink acquisition
Visa completed its purchase of Stockholm-based open banking platform Tink in March 2022.
2023Visa
Ryan McInerney becomes CEO
Ryan McInerney became Visa's CEO after serving as president.
2025Bausch Health
DURECT acquired and record annual revenue reported
Bausch Health closed the DURECT acquisition on September 11, 2025 for about $63M upfront, completed Solta Medical's Chinese aesthetics distribution purchase on December 1, 2025, and reported FY2025 revenue of $10.266B, up 7%, with net income attributable to Ba…
2025Visa
Revenue reaches $40.0B
Visa reported $40.0 billion in fiscal 2025 net revenue.
2026Bausch Health
RED-C trials miss endpoints and trigger a $1.4 billion charge
In January 2026 the two Phase 3 RED-C trials of amorphous-rifaximin soluble solid dispersion for primary prevention of hepatic encephalopathy missed their primary endpoints.
2026Bausch Health
Second-quarter 2026 revenue of $2.85 billion and raised guidance
Bausch Health reported second-quarter 2026 revenue of $2.85B, up 13%, net income attributable to Bausch Health of $258M and adjusted EBITDA of $1.075B, and raised its full-year 2026 revenue, adjusted EBITDA and cash flow guidance.
Acquisitions
Bausch Health
- DURECT Corporation2025$63M
- Shibo Zhenmei aesthetics distribution business2025Undisclosed
- Salix Pharmaceuticals2015$11.1B
- Bausch + Lomb Holdings2013$8.7B
- Ortho Dermatologics2011$345M
Questions about Bausch Health vs Visa
Who is the CEO of Bausch Health Companies Inc. and Visa Inc.?
Bausch Health Companies Inc. is led by Thomas J. Appio and Visa Inc. is led by Ryan McInerney. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Bausch Health Companies Inc. founded vs Visa Inc.?
Visa Inc. was founded in 1958 — 36 years before Bausch Health Companies Inc., which was founded in 1994. Visa Inc.'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Bausch Health Companies Inc..
How many employees does Bausch Health Companies Inc. have compared to Visa Inc.?
Bausch Health Companies Inc. employs approximately 20,300 people, while Visa Inc. employs approximately 34,100. Visa Inc. has the larger workforce at 34,100 employees, compared to Bausch Health Companies Inc.'s 20,300. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Bausch Health Companies Inc. and Visa Inc. headquartered?
Bausch Health Companies Inc. is headquartered in Canada and Visa Inc. is headquartered in United States. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded Bausch Health Companies Inc. and Visa Inc.?
Bausch Health Companies Inc. was founded by Eugene Melnyk, Milan Panic. Visa Inc. was founded by Dee Hock.
Which company has a longer operating history — Bausch Health Companies Inc. or Visa Inc.?
Visa Inc. has been operating for approximately 68 years, making it the more established of the two companies. Bausch Health Companies Inc. has been in operation for around 32 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Bausch Health vs Visa overview