<SEC-DOCUMENT>0001641172-25-023985.txt : 20250814
<SEC-HEADER>0001641172-25-023985.hdr.sgml : 20250814
<ACCEPTANCE-DATETIME>20250814160517
ACCESSION NUMBER:		0001641172-25-023985
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250814
DATE AS OF CHANGE:		20250814

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Bausch Health Companies Inc.
		CENTRAL INDEX KEY:			0000885590
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				000000000
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-45947
		FILM NUMBER:		251218743

	BUSINESS ADDRESS:	
		STREET 1:		2150 ST. ELZEAR BLVD. WEST
		STREET 2:		LAVAL
		CITY:			QUEBEC
		STATE:			A8
		ZIP:			H7L 4A8
		BUSINESS PHONE:		514-744-6792

	MAIL ADDRESS:	
		STREET 1:		2150 ST. ELZEAR BLVD. WEST
		STREET 2:		LAVAL
		CITY:			QUEBEC
		STATE:			A8
		ZIP:			H7L 4A8

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Valeant Pharmaceuticals International, Inc.
		DATE OF NAME CHANGE:	20100928

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BIOVAIL Corp
		DATE OF NAME CHANGE:	20100416

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BIOVAIL CORP INTERNATIONAL
		DATE OF NAME CHANGE:	19960522

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GOLDENTREE ASSET MANAGEMENT LP
		CENTRAL INDEX KEY:			0001278951
		ORGANIZATION NAME:           	
		EIN:				134118850
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		300 PARK AVENUE
		STREET 2:		21ST FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2128473500

	MAIL ADDRESS:	
		STREET 1:		300 PARK AVENUE
		STREET 2:		21ST FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <previousAccessionNumber>0001493152-24-006102</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: GOLDENTREE ASSET MANAGEMENT LP -->
          <cik>0001278951</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>


    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>2</amendmentNo>
      <securitiesClassTitle>Common Shares, no par value</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>06/30/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0000885590</issuerCik>
        <issuerName>Bausch Health Companies Inc.</issuerName>
        <issuerCusip>071734107</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>2150 St. Elzear Blvd. West</com:street1>
          <com:street2>Laval</com:street2>
          <com:city>Quebec</com:city>
          <com:stateOrCountry>A8</com:stateOrCountry>
          <com:zipCode>H7L 4A8</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>GoldenTree Asset Management LP</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>34254889.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>34254889.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>34254889.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>9.3</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>GoldenTree Asset Management LLC</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>34254889.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>34254889.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>34254889.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>9.3</classPercent>
      <typeOfReportingPerson>OO</typeOfReportingPerson>
      <comments>(Limited Liability Company)</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Steven A. Tananbaum</reportingPersonName>
      <citizenshipOrOrganization>X1</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>988823.00</soleVotingPower>
        <sharedVotingPower>34254889.00</sharedVotingPower>
        <soleDispositivePower>988823.00</soleDispositivePower>
        <sharedDispositivePower>34254889.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>35243712.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>9.5</classPercent>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Bausch Health Companies Inc.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>2150 St. Elzear Blvd. West, Laval, Quebec, Canada, H7L 4A8</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>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</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>The principal business address of each of the Reporting Persons is 300 Park Avenue, 21st Floor, New York, NY 10022.</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Investment Manager and IMGP are organized under the laws of the State of Delaware. Mr. Tananbaum is a citizen of the United States.</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>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.</amountBeneficiallyOwned>
        <classPercent>See Item 11 of each of the cover pages is hereto.</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>See Item 5 of each of the cover pages hereto.</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>See Item 6 of each of the cover pages hereto.</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>See Item 7 of each of the cover pages hereto.</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>See Item 8 of each of the cover pages hereto.</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>N</notApplicableFlag>
        <ownershipMoreThan5PercentOnBehalfOfAnotherPerson>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.</ownershipMoreThan5PercentOnBehalfOfAnotherPerson>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>GoldenTree Asset Management LP</reportingPersonName>
      <signatureDetails>
        <signature>By: GoldenTree Asset Management LLC, its general partner, By: /s/ Steven A. Tananbaum</signature>
        <title>Steven A. Tananbaum, Managing Member</title>
        <date>08/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>GoldenTree Asset Management LLC</reportingPersonName>
      <signatureDetails>
        <signature>By: /s/ Steven A. Tananbaum</signature>
        <title>Steven A. Tananbaum, Managing Member</title>
        <date>08/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Steven A. Tananbaum</reportingPersonName>
      <signatureDetails>
        <signature>By: /s/ Steven A. Tananbaum</signature>
        <title>Steven A. Tananbaum</title>
        <date>08/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureComments>Exhibit 99 Joint Filing Agreement (previously filed).</signatureComments>
  </formData>
</edgarSubmission>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
