<?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</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001901361</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Ordinary Shares - Class A</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>01/30/2026</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001818093</issuerCik>
        <issuerName>Beauty Health Co</issuerName>
        <issuerCusip>88331L108</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>2165 SPRING STREET</com:street1>
          <com:city>LONG BEACH</com:city>
          <com:stateOrCountry>CA</com:stateOrCountry>
          <com:zipCode>90806</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Capricorn Fund Managers Ltd</reportingPersonName>
      <citizenshipOrOrganization>X0</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>19404192.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>19404192.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>15.2</classPercent>
      <typeOfReportingPerson>IA</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Beauty Health Co</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>2165 SPRING STREET, LONG BEACH, CALIFORNIA, 90806.</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Capricorn Fund Managers Limited</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>Malta House, 36-38 Piccadilly, London, W1J 0DP</principalBusinessOfficeOrResidenceAddress>
        <citizenship>United Kingdom</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>IA</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>19404192</amountBeneficiallyOwned>
        <classPercent>15.2</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>19404192</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>0</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>0</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>0</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
        <classOwnership5PercentOrLess>N</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </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 acquired and are held in the ordinary course of business and 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.

By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Foreign investment advisor - registered &amp; regulated with the FCA is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Capricorn Fund Managers Ltd</reportingPersonName>
      <signatureDetails>
        <signature>Parth R Karia</signature>
        <title>Head of Risk - Capricorn Fund Managers Limited</title>
        <date>02/05/2026</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
