Statement of Changes in Beneficial Ownership (4)

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^* Paulson John	2. Issuer Name and Ticker or Trading Symbol Bausch Health Companies Inc. [ BHC ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle) 1133 AVENUE OF THE AMERICAS, 33RD FLOOR	3. Date of Earliest Transaction (MM/DD/YYYY) 5/12/2020
(Street) NEW YORK, NY 10036 (City) (State) (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, no par value	5/12/2020		P		25000	A	$17.3	20864035	I ⁽¹⁾	By Managed Funds ⁽¹⁾
Common Stock, no par value	5/12/2020		P		162900	A	$17.5	21026935	I ⁽¹⁾	By Managed Funds ⁽¹⁾
Common Stock, no par value	5/12/2020		P		374836	A	$17.33	21401771	I ⁽¹⁾	By Managed Funds ⁽¹⁾
Common Stock, no par value	5/12/2020		P		678400	A	$17.47	22080171	I ⁽¹⁾	By Managed Funds ⁽¹⁾
Common Stock, no par value	5/12/2020		P		799900	A	$17.24	22880071	I ⁽¹⁾	By Managed Funds ⁽¹⁾
Common Stock, no par value	5/13/2020		P		603900	A	$16.32	23483971	I ⁽¹⁾	By Managed Funds ⁽¹⁾
Common Stock, no par value	5/13/2020		P		80300	A	$16.58	23564271	I ⁽¹⁾	By Managed Funds ⁽¹⁾
Common Stock, no par value	5/13/2020		P		645844	A	$16.7	24210115	I ⁽¹⁾	By Managed Funds ⁽¹⁾
Common Stock, no par value	5/14/2020		P		348920	A	$15.85	24559035	I ⁽¹⁾	By Managed Funds ⁽¹⁾
Common Stock, no par value	5/14/2020		P		70000	A	$15.65	24629035	I ⁽¹⁾	By Managed Funds ⁽¹⁾
Common Stock, no par value	5/14/2020		P		624900	A	$15.87	25253935	I ⁽¹⁾	By Managed Funds ⁽¹⁾
Common Stock, no par value	5/14/2020		P		585100	A	$15.92	25839035	I ⁽¹⁾	By Managed Funds ⁽¹⁾

*Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)*
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)			11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

(1)

John Paulson, the controlling person of Paulson & Co. Inc. ("Paulson"), serves on the board of directors of the Issuer. Paulson is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds"). John Paulson may be deemed an indirect beneficial owner of the securities, which are directly owned by the Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the reporting person disclaims beneficial ownership of any securities reported herein, except to the extent that the reporting person has a pecuniary interest therein. This report shall not be deemed an admission that such reporting person is the beneficial owner of any securities not directly owned by such reporting person.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Paulson John 1133 AVENUE OF THE AMERICAS 33RD FLOOR NEW YORK, NY 10036	X