AlphaSituations-Event/Catalyst Driven Research, AlphaSituations

Robert Sassoon

Robert Sassoon has been an equity analyst for more than twenty years focusing primarily on global special situations. Robert has worked in research for several large sell-side institutions, including Credit Suisse, Natwest Capital Markets and Societe Generale. During his career, he has achieved top 5 rankings in various analyst surveys, including the Extel and Greenwich surveys.

In 2017, Robert founded AlphaSituations, an idea-generating investment research service with the goal of delivering a unique portfolio of ideas to drive client growth and returns by uncovering compelling and highly profitable value propositions as well as lucrative shorter-term trading situations arising from select dislocating corporate restructuring events and catalysts. Currently, the main geographical focus of the research is North America. Since its establishment, AlphaSituations has delivered a track record of outperformance with a hit rate of winners of more than 70% of its portfolio of ideas generating annualized average returns of 20%.

In January 2022, AlphaSituations was contracted  by Water Tower Research,  an investor engagement and stakeholder communication platform to provide coverage of Special Situations.

AlphaSituations-Event/Catalyst Driven Research

SpinTalk: The Bausch Corporate Overhaul Is More Illusory Than Substantive At Least for Now

SpinTalk: Why Bausch Health Companies' Planned Eye Care Spin-Off Promises a Major Value Re-Rating

ActivistTalk: Why We Think There Is Even More Value In Bausch Health Companies Pending Restructuring

AlphaSituations

Since its establishment, AlphaSituations has delivered a track record of outperformance with a hit rate of winners of more than 70% of its portfolio of ideas generating annualized average returns of 20%. In January 2022, AlphaSituations was contracted by Water Tower Research, an investor engagement and stakeholder communication platform to provide coverage of Special Situations

Event-Driven

<a href="https://www.smartkarma.com/entities/bausch-health-companies-inc" target="_blank" data-smartkarma-citation="entities:941:1" rel="noopener">Bausch Health Companies (BHC US)</a> recently announced that it intends to split-off via an IPO  its highly profitable and fast growing  medical aesthetics business, Solta Medical, adding to the proposed spin/split-off of its eyecare business, Bausch &amp; Lomb (B&amp;L , which it announced a year ago. At the same time, BHC continues to make progress  in reducing its large debt pile, the legacy of the company's aggressive expansion during the first half of the last decade under the aegis of the management team. Although the share price has climbed ~60% since we published in August 2020 our insight - SpinTalk: Why Bausch Health Companies' Planned Eye Care Spin-Off Promises a Major Value Re-Rating -  the BHC share price appears to have hit a value wall in recent months and has so far struggled to make a sustainable breakthrough the $30 barrier. Indeed since our last update,  ActivistTalk: Why We Think There Is Even More Value In Bausch Health Companies Pending Restructuring, published on March 18, 2021, BHC has lost ~12% of its value  vs a ~9% drop in the <a href="https://www.smartkarma.com/entities/spdr-s-p-pharmaceuticals-etf" target="_blank" data-smartkarma-citation="entities:32128:1" rel="noopener">SPDR S&amp;P Pharmaceuticals ETF (XPH US)</a> while the broader market as represented by the <a href="https://www.smartkarma.com/entities/spdr-s-p-500-etf-trust" target="_blank" data-smartkarma-citation="entities:763:1" rel="noopener">SPDR S&amp;P 500 (SPY US)</a> has risen ~14%.Our insight below discusses why BHC's share price momentum has stalled in recent months and why we believe this represents an opportunity to pick up the considerable value still left on the table.

Bausch Health Companies (BHC US) recently announced that it intends to split-off via an IPO  its highly profitable and fast growing  medical aesthetics business, Solta Medical, adding to the proposed spin/split-off of its eyecare business, Bausch &amp; Lomb (B&amp;L , which it announced a year ago. At the same time, BHC continues to make progress  in reducing its large debt pile, the legacy of the company's aggressive expansion during the first half of the last decade under the aegis of the management team. Although the share price has climbed ~60% since we published in August 2020 our insight - SpinTalk: Why Bausch Health Companies' Planned Eye Care Spin-Off Promises a Major Value Re-Rating -  the BHC share price appears to have hit a value wall in recent months and has so far struggled to make a sustainable breakthrough the $30 barrier. Indeed since our last update,  ActivistTalk: Why We Think There Is Even More Value In Bausch Health Companies Pending Restructuring, published on March 18, 2021, BHC has lost ~12% of its value  vs a ~9% drop in the SPDR S&amp;P Pharmaceuticals ETF (XPH US) while the broader market as represented by the SPDR S&amp;P 500 (SPY US) has risen ~14%.Our insight below discusses why BHC's share price momentum has stalled in recent months and why we believe this represents an opportunity to pick up the considerable value still left on the table.

SpinTalk:Bausch Health Companies- Restructuring Broadens,Considerable Value Still Left On The Table